With mobile, Internet-enabled devices, you can bank online on the move. But beware: all the dangers you know from online banking with a computer exist with mobile banking too. There are also some additional security risks with mobile devices. You can find out what you can do to protect yourself against the dangers here.

Golden rules for secure mobile banking

Mobile banking is the processing of various banking transactions such as checking account balances, making transfers, setting up or managing standing orders or going through credit card statements using a mobile device. It is not the same as mobile payments, where payment transactions are processed at the point of sale (POS) using a mobile device.

For mobile banking, special banking apps must be installed on the mobile devices. Alternatively, the online services provided by the banks can be accessed on the Internet via browsers.

With more and more people using mobile devices for lots of everyday things, it is becoming popular to use them for financial matters too. They offer many advantages: mobile banking is possible anywhere and any time, around the clock. User friendliness has also improved, particularly with customers able to use their usual (online) access data and with faster upload times. Security and convenience are the most important benefits to expect from mobile banking. The following tips will help you to increase the security of your mobile banking:

1. Do not use a rooted/jailbroken mobile device for mobile banking.
2. Keep your mobile device up to date with the latest operating system, etc.
3. Only install the corresponding software (banking app) from trustworthy sources - your bank or your usual app store.
   Use the latest version of the banking app and install software updates as soon as they are available.
4. Think carefully about whether to choose a multibank app that lets you use several accounts at different banks with special functions and only one app. The possibility that various account movements could be linked with usage and location data carries the risk that usage profiles could be created.
5. Secure the banking app with a strong password. Use the strong customer authentication offered by the bank.
6. Log out of the banking application correctly using the "Log out" button, rather than simply closing the app.
7. Do not give your PIN/TAN for the banking account to third parties. Never store PINs/TANs as disguised telephone numbers or dates of birth in the device.
8. Use the lock function of your mobile device to ensure the device can only be used again after entering a code or using the biometric lock function.
9. If you lose your mobile device, have your SIM card and all access to your bank accounts blocked immediately.
10. Check the transactions on your account regularly and inform your bank of any unusual activity.
11. Do not use public networks or (public) WLAN hotspots when using mobile banking.
12. Only activate Bluetooth, NFC and WLAN when you use them to make it more difficult for attackers to connect to your mobile device. You can switch the functions off and on in the quick settings

Threats: phishing

The greatest threat with mobile banking, as with online banking from a home PC, is spying on the access data, known as phishing. A fraudster who is successful with a phishing attack gains access to the account and can misuse it for financial transactions. Phishing attacks can be carried out via e-mails, Trojan horses or spyware, for example.