Guard the Connection
Banking apps and Web sites incorporate security precautions to protect users' data, but there are two things you can do to safeguard your accounts, too: Don't connect to your account using public WiFi and don't text sensitive information to your bank.
Most smartphones connect to the Internet using either a wireless Internet connection or a mobile provider network, which is the most secure option. The problem with free WiFi is that imposters create look-alike WiFi networks and when you connect to them, your financial data can be intercepted [source: Saltzman]. Your best bet is to connect using your smartphone's 3G or 4G network or your password-protected home network, which are much more difficult for the bad guys to intercept data from.
You'll also want to steer clear of sending text messages to your bank about your account because text transmissions don't travel over a secure network. If your bank, credit union or credit card sends you a text -- even if it doesn't contain sensitive information -- don't store it in your phone [source: Rosencrance]. Keeping the information only gives more ammunition to would-be thieves if your phone is lost or stolen.