Is mobile banking secure?

Mobile banking is fairly secure, especially when customers take some basic precautions to protect themselves, according to Bankrate. Additionally, many banks refund all fraudulent charges, especially when they are reported within 60 days of occurrence.

One of the best ways to deter mobile banking problems is to use password protection on a phone, according to Bankrate. Not allowing automatic log-in to online bank accounts is another important safety measure. Mobile apps distributed by banks are often secure to use, but they may allow for easy hacking if a thief gets a hold of the person's phone. Users should also not share any PIN numbers or secret questions.