Tips for online banking protection on smartphone

If you live on the move online banking on your smartphone can seem like anvideal way to keep trexk of your finances and also make your banking easier.
       The question is, banking online on my smartphone is it a safe way to manage my money ? Some banks, using your smartphone, provide you and anyone who accesses your phone- with direct access to your bank accounts
         Most bank provide apps that let you manage your money via your smartphone. Others only allow smartphone users to log into a full version of their internet banking site

According to www.money.co.uk, here is everything you need to know about banking online on your smartphone.
Some dedicated mobile banking apps also let you send money to existing recipients you have set up using the bank's online service.this means you can send money out to your pre-authorised recipients but not to any bank account.

Using your smartphone to access The online banking facility on your bank's website lets you perform the same functions as if you were logging onto your PC in your living room

While this open you to some risks, it does provide you with easier access to your account and means that should you fall victim, you will be quicker to spot any fraudulent transaction and report them.
  If you take the necessary security measures there is no reason to think that banking via your smartphone is any less secure than any other means of accessing your accounts, according to experts.

Things to know about online banking apps
        Most mobile banking apps do not store your bank details directly on your phone, but instead access them from a secure data centre. This means your mobile itself will never hold your personal bank information. Some banks now offer specific software to tackle the threat of mobile fraud.
         For example, some other free kapersky mobile security software with their mobile phone banking application. This is aimed at providing extra security level to protect you from any virus or trojan attack.
          You need to ask your bank if it will refund any losses you can incur if you fall victim to mobile phone banking fraud. Most Nigerian banks are often reluctant to refund any losses even if you have taken reasonable care and not misused the service.
       The truth is that most bank do not state a policy on guarantees against fraud when you access internet banking from your smartphone. If you have any doubt as to where you stand,then you should contact your bank to check before logging on.
 Most antivirus providers offer dedicated smartphone security packages. These monitor background activity on your phone to stop viruses compromising your personal data
  If you plan to use your phone for online banking on a regular basis then, antivirus software adds an extra level of protection.
 Mobile viruses and worms are only going to become more sophisticated and a greater threat in the near future. As a result it is certainly something worth considering.

Making online banking on smartphone safer