Cybersecurity experts say that banking apps are safe. Just that you need to be careful to avoid identity theft. The best private bank in India offers biometric authentication that cannot be forgotten, lost or stolen. It is incredibly tough for scammers to hack them. Most other Indian banks are taking steps to stay ahead of frauds. Mobile banking is a fast-growing segment of the financial world and you can follow these steps to pick the most secure mobile banking app for Android. Read the below information to learn more.
1. Look for a Genuine App
Head over to the bank’s official website. See the safety measures that are built in the app. It will include data security where everything is encrypted and transmitted across banking channels with tight security. The best app maintains utmost transparency regarding data that is linked to your:
- identity- financial information
- contact information
- search history and
Talk to a bank executive to have a better understanding of how to protect your account. You will be able to enjoy a worry-free banking experience.
2. Check the Safety and Security
The top private bank in India offers SIM Binding feature for secure banking. Face ID and biometrics (fingerprint scanner) are also available for log-ins. MPINs, passwords, user IDs and mobile numbers are used as proof of your identity. All safety standards are as per RBI guidelines. The app uses a two-factor authentication:
- Username and password to login.
- No information is stored in the phone or SIM card.
Overall, there is end-to-end security for the banking app. All of these will ensure secure payments, UPI transfers, online credit banking and instant bill payments. The bank expects all users to stay active and alert regarding their accounts.
3. Learn About Personalised Recommendations
The mobile banking app for Android must offer investment ideas as per your risk profile. For instance, age is a factor that matters. Having a clear understanding beforehand will increase the chances of reaching your financial goals. Else, there could be chances of losing money. You must be able to view your investment portfolio anytime to be updated.
4. Be Sure of Zero Charges
The best banking app in India offers 28 savings account-related activities free of cost. This will include online account opening, debit card issuance, money transfers without adding a beneficiary and cheque re-issuance. Services like DD and pay order issuance and third-party approvals must also be without any charges. No fees on international transactions is another feature to check for seamless banking.
5. Live Chat Feature
You must be able to interact with a real human whenever required. Look for an app that offers bank executives who will talk to you on chat or video calls. This way any trouble or query can be addressed immediately. You do not have to visit the bank or be on hold for days to get your concerns resolved. Real-time support is necessary since humans are able to understand the urgency and can be sympathetic, unlike bots.
IDFC FIRST Bank offers the Optimus App that is safe with fewer chances of a scam. It is necessary to take safety steps on your end as well for a great banking experience.