US EditionIs mobile banking safe? How to actually protect your money
Banks invest billions in cybersecurity and cover most fraud losses, while consumers must follow best practices to secure mobile banking on phones and apps.
- Libby Wells, Bankrate.com reports that mobile banking is how a majority of Americans manage money and is a growing target for fraud, but mobile phones can be safer than cards with proper precautions.
- The FBI warns that attackers focus on smartphones using app-based banking Trojans and exploit users via phishing emails and smishing texts, while free public Wi‑Fi networks make hacking easier.
- Banks and credit unions protect accounts with high-end encryption, multi-factor authentication and customizable alerts, while Regulation E limits consumer liability to $50 if reported within two business days and $500 afterward.
- Most banks carry FDIC insurance protecting up to $250,000 per depositor, while consumers must secure their phones and monitor quick notifications to detect fraud early.
- Experts recommend downloading apps only via your bank's official site, using two-step verification and a password manager, as Paul Benda says mobile banking is safe when proactive.
15 Articles
15 Articles
Is mobile banking safe? How to actually protect your money
By Libby Wells, Bankrate.com Mobile banking is how a majority of Americans manage their money. But it’s also a growing target for fraud. The good news: when done right, it can actually be safer than swiping your debit card at a store. Related Articles Most US stocks rise with hopes for lower interest rates, but a drop for Nvidia holds the market back US retail sales rose slightly in September, adding to months of b…
Is mobile banking safe? How to actually protect your money
By Libby Wells, Bankrate.com Mobile banking is how a majority of Americans manage their money. But it’s also a growing target for fraud. The good news: when done right, it can actually be safer than swiping your debit card at a store. Related Articles What to buy (and skip) on Black Friday 2025 Building an emergency fund can feel daunting, but these tips can help Is giftflation blowing up your holi…
Is mobile banking safe? How to actually protect your money
By Libby Wells, Bankrate.com Mobile banking is how a majority of Americans manage their money. But it’s also a growing target for fraud. The good news: when done right, it can actually be safer than swiping your debit card at a store. Related Articles Work rules could push millions of Californians off SNAP What to buy (and skip) on Black Friday 2025 Building an emergency fund can feel daunting, but…
Is mobile banking safe? How to actually protect your money
By Libby Wells, Bankrate.com Mobile banking is how a majority of Americans manage their money. But it’s also a growing target for fraud. The good news: when done right, it can actually be safer than swiping your debit card at a store. Related Articles Consumer confidence slides as Americans grow wary of high costs and sluggish job gains Most US stocks rise with hopes for lower interest rates, but a drop for Nvidia …
Is mobile banking safe? How to actually protect your money
By Libby Wells, Bankrate.com Mobile banking is how a majority of Americans manage their money. But it’s also a growing target for fraud. The good news: when done right, it can actually be safer than swiping your debit card at a store. Related Articles US retail sales rose slightly in September, adding to months of big gains Tyson’s beef plant closure in Nebraska will impact a reliant town and ranchers nationwide …
Is mobile banking safe? How to actually protect your money
By Libby Wells, Bankrate.com Mobile banking is how a majority of Americans manage their money. But it’s also a growing target for fraud. The good news: when done right, it can actually be safer than swiping your debit card at a store. Related Articles Most US stocks rise with hopes for lower interest rates, but a drop for Nvidia holds the market back US retail sales rose slightly in September, adding to months of b…
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