Is Mobile Banking Safe? You have to pay attention to that

With mobile banking, you can manage money transactions on the go with your smartphone. Whether your account is secure depends primarily on your bank's standards and your own precautions. In this practical tip, we will tell you what you absolutely have to pay attention to and what precautions you can take to protect your money.

Mobile banking: that's how secure smartphone apps are

Mobile banking is becoming increasingly popular: More than a third of Germans do money business from their iPhone or android - and the trend is rising. You no longer access your account via the browser, but with apps.

• From the Sparkasse to Volksbank-Raiffeisenbank to ING-DiBa, numerous banks offer banking apps exclusively for their customers.
• If you access your account using Bank's own smartphone apps, you are usually even more secure than when logging in via the browser: You can neither fall for the wrong internet address nor go to a dangerous phishing site due to typing errors.
• Most banking apps also use high security standards. In many cases you will need an individual master password in addition to your PIN, which you must enter before each app call. In addition, all transactions are secured with 256-bit encryption - a process that is still considered unbreakable to this day.
• We have put together the best apps for mobile banking in a picture gallery for you. Stiftung Warentest also tested the bank apps closely.

Secure TAN procedures for mobile banking - these are the options

Anyone who operates online banking can have their TANs - short combinations of numbers for transaction confirmation - sent as SMS using the mTAN procedure. With mobile banking, however, we strongly advise against this: If you receive your TANs on the same device with which you make transfers, hackers will have no problem. The following TAN procedures are more suitable for mobile money transactions:

• With the Push-TAN, the transaction confirmation number can be requested in a separate app, which you must protect with another password. While this is convenient, all the data is on the smartphone again. Once a virus has sneaked into your device, it may read both the banking and the TAN app.
• The Photo-TAN already offers more security: Before the transfer, a cryptic image is generated that you have to photograph with a smartphone or tablet. A special app then reads the TAN from the graphic. However, this procedure is much more complicated - after all, you always have to have two devices with you for banking transactions on the go.
• The chip TAN procedure is the most secure variant for mobile banking so far: With the help of your bank card and an additional card reader, unique TAN codes are created for every transaction. The small TAN generator basically cannot be hacked, but in most cases you have to buy it separately.

Additional security tips for safe mobile banking

• Download banking apps only from trusted sources, such as Google Play and the App Store for iOS. It is best to use the original apps of your bank - if you are unsure, ask your advisor beforehand.
• Your smartphone is also not completely protected against hacker attacks, Trojans and viruses. Therefore, be careful on the Internet, download only apps and email attachments from well-known providers and protect your device with antivirus software for iOS or Android.
• Also, never save your PIN and PUK for mobile banking on your smartphone, not even in the address book disguised as a phone number or date of birth.
• Never use mobile banking if you are connected to the Internet via public networks. Also avoid it if Bluetooth is switched on on your device - data thieves can connect to your smartphone much easier.
• Always make sure that no one is watching you entering your master password. Always use a secure password.

Not only mobile banking requires security measures, banking transactions on the computer can also be easily spied on. To prevent this from happening, you should consider our tips for secure online banking.