Mobile Banking - how safe is it?

[Personality+]

my email is not connected to any apps on my phone - so I think I'd be ok (if they didn't have email access) due to requiring authentication for most transaction (Amazon is one of the few places that is automatic for me)

I used to like using 2fa for everything but this becomes horrible if you don't remember or have access to your back up codes.

Guess the apps could start making you verify with a quick video to confirm you want to do transactions (if you opt in) as an added layer of security. I also have to record a little video to log in on a new device as an example.

 

[Jelly4mybelly]

I have am yet to identify a scenario personally where having banking apps on my phone to be beneficial. Often before making an online purchase I will compare a few product reviews and prices before going ahead, both are far easier on a full PC rather than a mobile phone screen. If I am out at the supermarket I will bring my creditcard and keep that in my front pocket.

Unless we are super aware of our surroundings we cannot be sure who is watching over us trying to observe our phone unlock code. On my mobile I do not even have my email address signed in, rather a burner Gmail account so I can set up a few Youtube subscriptions and playlists.

 

[Disco_P]

I have everything on my phone. With biometrics, it's dead easy to 2FA authenticate things with a password (something I know) and my face/fingerprint (something I am).

Banking apps are so much better than the websites, on my old phone I have 15 of them and the new phone has about 10. Super easy to check balances, move my money around for all the bonuses and pay my friends. Chase and Tembo are app only.

All these apps need another passcode or biometrics to open so if someone did steal my unlocked phone, they wouldn't be able to open the apps.

Plus if they did knick it, it has theft protection built in and can be remotely locked down from another phone with a text, then remotely wiped.

 

[Richie]

I have everything on my phone. With biometrics, it's dead easy to 2FA authenticate things with a password (something I know) and my face/fingerprint (something I am).

Banking apps are so much better than the websites, on my old phone I have 15 of them and the new phone has about 10. Super easy to check balances, move my money around for all the bonuses and pay my friends. Chase and Tembo are app only.

All these apps need another passcode or biometrics to open so if someone did steal my unlocked phone, they wouldn't be able to open the apps.

Plus if they did knick it, it has theft protection built in and can be remotely locked down from another phone with a text, then remotely wiped.

I have that on mine but where do you see the bottom screenshot yoo put?

 

[Disco_P]

I have that on mine but where do you see the bottom screenshot yoo put?

Thats's the interface on Google "find my device " on a desktop browser

 

[pallys]

People saying they have face id and passwords yes, but the guy in the article is saying the same thing. So how did they get the funds?

Yeah I've come to the conclusion if someone snatched your phone unlocked it can all bypassed as per that guy on YouTube video.

Knowing that I'm going to buy a 2nd cheap phone that stays at home with the banking apps and delete these off my main phone. The amount of money at risk just isn't worth it.

Anybody recommend a cheap £100 phone for this? Ideally a manufacturer that provides the longest possible security updates too?