The general security tips you follow online, like creating a strong password, should be followed when banking with your smartphone, too. The most infallible passwords should have eight or more characters, and include a combination of numbers, letters, punctuation marks and symbols that are located all over the keyboard [source: Microsoft]. If your smartphone has a prompt that offers to remember your password, refuse the convenience. It's better to manually enter the password each time than to risk storing it -- and offering one-click access to your financial accounts if your smartphone falls into the wrong hands.
You should password-protect your smartphone, too. Most smartphones, regardless of which operating system they use, have a screen lock option that prevents others from using your smartphone without your permission. Although screen lock setup varies, you can usually activate this security measure from your phone's settings menu and select your own PIN or code [source: Dachis].