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Is mobile banking safe?

minute read

    You probably already know that mobile banking usually works through an app on your phone or other handheld device. But is mobile banking safe? Fortunately, mobile banking offers innovative security features that may help keep your account secure.

    What is mobile banking?

    Mobile banking takes many of the features of in-person and desktop banking and puts them on your phone in the form of an app or mobile-friendly website. With the Chase Mobile® app, for example, you can do things like deposit checks, transfer funds and make payments all from your smart phone.

    Chase Mobile® app safety features

    Of course, with mobile banking comes mobile banking risks. Fortunately, the Chase Mobile® app can help protect your accounts with various security features:

    Card lock

    If you lose your physical card you can lock your missing card to prevent purchases. If you end up finding your missing card, you can unlock it through the same app. But if you don’t find the card, you can request a new one through the app.

    Stored credit cards

    The Chase Mobile® app works with trusted partners so that you can enjoy the ease of contactless payments. How does it work? The mobile banking app stores your card information in a digital wallet that you can use to pay at checkout, often with just a tap or wave of your phone.

    Face and touch ID

    Thanks to face and touch ID features, your accounts are better protected than with just a password. But when your face isn’t accessible, the app may require your password, or a password reset. This can help safeguard your accounts with extra security.

    Chase QuickDeposit security

    Chase QuickDeposit℠ helps you deposit checks through the Chase Mobile® app. Using advanced security features, Chase can better help protect your banking experience while you're in the mobile app.

    Digital safety habits

    While using the Chase Mobile® app can help protect your account, there are additional things you can do to help enhance your digital security in general.

    Username and password protection

    More complex passwords can help protect your accounts. The most secure examples typically combine letters and numbers with special characters. To help further improve password security, you can change your password regularly and use a separate password for every app.

    Multi-authentication email accounts

    When you sign in for the first time or with a new device, your mobile banking app may ask you for your username, password and a temporary identification code. This extra validation step may arrive by phone, email or text message. Once you respond to this inquiry with the identification code, only then can you sign into your accounts.

    Shared personal information with someone you don’t know?

    If you’ve accidentally shared sensitive personal data, there are steps you can take to help protect your account. First, you can sign into the mobile app or to check your account information. If you find suspicious activity in your accounts, you can get in touch with your bank directly through the app. A customer service representative can review the situation and help you with your account.

    Did you know?

    Mobile apps are one of the most popular ways to bank. In fact, many people now say their banking app has become an essential tool for their life.

    In 2021, Chase customers:

    • Opened about 50% of consumer deposit accounts digitally.
    • Seamlessly moved more than $3 trillion in digital payments.
    • Processed more than 5 million card replacements digitally.

    In summary

    So, is mobile banking safe? Your mobile banking app can work safely when used correctly and paired with the latest security features. That’s how you could use mobile banking in a safe way to help manage your accounts and more, right at your fingertips.

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