Staying on top of your finances is important at any stage of life, but it can be especially important for seniors on a fixed income. Mobile apps make life more enjoyable and convenient, and mobile checking apps can be particularly handy when you want to keep track of your money. Banking apps also come with risks and challenges, so understanding how to use them safely can help protect your money.
Mobile checking uses a mobile app to give you access to your bank account information. You download the app on your phone or tablet, so you can handle banking activities remotely instead of calling or going into the bank. Once you download the app, you'll create a username and password to log in.
Mobile apps let you interact with your checking account in many ways. Things you can do on most mobile banking apps include:
The features offered vary from app to app. Some banks offer robust apps with lots of features and options, while others are limited to the basics like checking your balance and transferring funds. Exploring your bank's app helps you become familiar with it.
One of the biggest benefits of mobile banking is having access to your account without leaving home. Residents of Broadmoor Court will especially appreciate that perk during cold Colorado Springs winters. The benefits of using a banking app include:
You can use your banking app as much or little as you feel comfortable. Some people use them for quick balance checks, while others handle almost all banking tasks through the app.
Despite the convenience of using banking apps on your phone, there are some drawbacks to consider. Some potential negatives include:
Being aware of these issues can help protect you and your banking information. Most bank apps have very secure features, but there are still risks of being compromised, especially if you fall victim to scams related to your banking app use.
Having your account compromised is perhaps one of the biggest threats of using any mobile app. These tips can help you use a mobile checking app safely:
Banking apps can be completely safe when you use an authentic app and practice safe online banking strategies.