[nazali]

Hey guy's,
I use online and have done so for decades, no problems (PC and scarily enough a win7 pc to boot! LOL)
Looking at downloading a app for my CC, which will let me get through to the bank quicker, get notifications etc etc
it has 2 step MFA, to text or email and or fingerprint ID

I'm worried about stolen or hacking

it's just another point of failure, I'm not paying anything, but I'm guessing my CC info will be on there,

any thoughts?

[vreihen16]

Welcome to the 21st century!

With reports of restaurant/bar employees recording card numbers and using them online and ATM/gas pump magnetic stripe skimmers being placed over legitimate devices to steal your card info, going to an NFC-type point-of-sale payment system seems like a more secure option.

FWIW, I have traveled up and down the east coast twice in the past year paying for almost everything using my Apple Watch and ApplePay. If you have an Apple device and your bank supports it, I'd trust it more than a dedicated banking app as a payment method.....

[leopard print]

I’ve been using the Amex app for years. Not one issue ever. I say you don’t have anything to worry about, unless you have a habit of leaving your phone around unlocked.

[Tyga11]

Why are you concerned about security? You're covered for fraudulent charges with every CC and bank. My credit card is 'stolen' probably 3x a year. I don't care. They send me a new one and delete the fraudulent charges.

[BRAKE!]

Most banks design the apps to ensure security, however, nothing is 100%. It will ultimately come down to your risk tolerance. Millions are using it without issues and if it was that dangerous, I’m sure the banks would’ve pulled it by now.

[nazali]

wow !

[QUOTE=Tyga11;29365128 My credit card is 'stolen' probably 3x a year. I don't care. They send me a new one and delete the fraudulent charges.[/QUOTE]

[nazali]

awesome txs for all the great replies and responses

[tranquility]

I guess I'm still in the stone ages, I don't see the need personally for me to use a phone app, just online is sufficient, not in a hurry to move my $ around pronto, but ofc this depends on one's personal needs; so, I avoid another pt of vulnerability. (Talking about using banking apps, not cc stuff.)

[jmg]

Originally Posted by nazali

Hey guy's,
I use online and have done so for decades, no problems (PC and scarily enough a win7 pc to boot! LOL)
Looking at downloading a app for my CC, which will let me get through to the bank quicker, get notifications etc etc
it has 2 step MFA, to text or email and or fingerprint ID

I'm worried about stolen or hacking

it's just another point of failure, I'm not paying anything, but I'm guessing my CC info will be on there,

any thoughts?

There is no way to guarantee that you will never get "hacked", but there are steps to take to reduce the chances or at least catch your errant CC in the wild right away:

My CC notifies me through the app/text/email whenever there is a new charge. I literally get the notice seconds after I use it. I don't think you need the app, but I have it anyway so it's not dependent on email or imessage servers.

I place these cards in my Apple Wallet and use my iwatch or iphone to pay as often as I can. This places control of your card in your hand, and afaik also helps fight skimmers.

I check my charges almost weekly via quicken. Being hyper aware of my expenses also lets me catch fraudulent or even incorrect charges.

Every time I've been a victim, it's been a non-issue. I catch it early, the CC company investigates and credits the fraudulent charges. It's no big deal, because I catch it early. Most I got charged was around $600 for some stuff.

[Angelo_GraysonMiniBMW]

My wife likes using M1 banking to stock pile a little money and provides a 2.5% return on the savings account.

[Our03z4]

Originally Posted by Angelo1

My wife likes using M1 banking to stock pile a little money and provides a 2.5% return on the savings account.

Love M1, we are starting to use it more and more. Their CC is great as well.

[dreamingat30fps]

Originally Posted by nazali

Hey guy's,
I use online and have done so for decades, no problems (PC and scarily enough a win7 pc to boot! LOL)
Looking at downloading a app for my CC, which will let me get through to the bank quicker, get notifications etc etc
it has 2 step MFA, to text or email and or fingerprint ID

I'm worried about stolen or hacking

it's just another point of failure, I'm not paying anything, but I'm guessing my CC info will be on there,

any thoughts?

Wouldn't there be a higher probability of your windows 7 PC getting hacked than your smart phone? (I'm assuming you have a smart phone)

I mean the app and the website basically do the same thing. Connect to the banks servers using a secure encrypted connection. If the banks servers are compromised then you are screwed regardless if you use the app or a web browser.

[tranquility]

Originally Posted by tranquility

I guess I'm still in the stone ages, I don't see the need personally for me to use a phone app, just online is sufficient, not in a hurry to move my $ around pronto, but ofc this depends on one's personal needs; so, I avoid another pt of vulnerability. (Talking about using banking apps, not cc stuff.)

To expand on my above, yes, CCs are pretty much protected and you won't get left holding the bag if you got scammed, but I dunno about you guys, when it happened to me (a handful of times over the years), it was a real PITA, as I had to wait for a new card, figure out if my pre-pays were affected/redo authorizations, can't accumulate pts on that card, etc. So much freaking hassle, so if I can avoid another area of exploitation, I'd do it.

Also, about the above post, aren't our phones more vulnerable than our computers since there are less effective AVs available for the former? I dunno. Anyway, this is still an *additional* pt of attack even if the phone's security is stronger. Maybe an IT expert can chime in.

[jmack]

I work in cybersecurity and have 0 qualms with using my banks' mobile apps.

The only thing I don't like is the lack of transparency around using encrypted transport, ie: in a browser you can see that it's HTTPS, while the app hides it. I've verified myself that the apps are encrypted, so as long as botched app update doesn't break it, it's no more or less secure than a PC browser.

[tranquility]

Originally Posted by jmack

I work in cybersecurity and have 0 qualms with using my banks' mobile apps.

The only thing I don't like is the lack of transparency around using encrypted transport, ie: in a browser you can see that it's HTTPS, while the app hides it. I've verified myself that the apps are encrypted, so as long as botched app update doesn't break it, it's no more or less secure than a PC browser.

That's great to know. I'm still going w using as few methods as possible when accessing my money but understand if ppl need to access on-the-go so they use those apps.

[2000cs]

I use only the app from my financial institutions, no third party banking app. I use CreditKarma for example to see my scores, but never load in any banking info or access.

For bank accounts, the ones that are public facing have limited funds (debit card only $500, checking under the bank’s $10k cyber reimbursement limit, etc). All other funds are in a separate, non-linked account. I can transfer funds between as needed, but if someone got ahold of my payment info or a check (rarely used) and tried to steal from my checking account, it is covered. Banks will link the accounts to protect you from overdrawing, but that puts all of the linked accounts at risk from one fraudster.

Credit cards all have immediate notification of any charge over $1.00. That is very effective.

I look at my bank balances every weekday morning, brokerages after the markets close, and that way would see any suspicious activity. Takes maybe 5 minutes. I only do this at home on my network, never in a hotel or other public WiFi.

A few simple disciplines like this make on-line banking safe enough for me.

[Tyga11]

Originally Posted by tranquility

To expand on my above, yes, CCs are pretty much protected and you won't get left holding the bag if you got scammed, but I dunno about you guys, when it happened to me (a handful of times over the years), it was a real PITA, as I had to wait for a new card, figure out if my pre-pays were affected/redo authorizations, can't accumulate pts on that card, etc. So much freaking hassle, so if I can avoid another area of exploitation, I'd do it.

Also, about the above post, aren't our phones more vulnerable than our computers since there are less effective AVs available for the former? I dunno. Anyway, this is still an *additional* pt of attack even if the phone's security is stronger. Maybe an IT expert can chime in.

With credit cards now - they overnight you a replacement card and your pre-pays aren't affected.

[Suds]

I have had more problems with checks I have sent in the US mail than CC fraud and that is me mailing about six at the most. Too many crooks in the Postal Service.

[2000cs]

Originally Posted by Suds

I have had more problems with checks I have sent in the US mail than CC fraud and that is me mailing about six at the most. Too many crooks in the Postal Service.

Years ago I had a check stolen and washed. Turns out the crook was an employee of our local post office. Ever since, when I write a check, it is with a sharpie. But I rarely write checks anymore. I use the bank’s bill pay function or have them auto-pay on my credit card.

[Suds]

The Sharpie is a great idea. I only write checks to my yard crew and I always mailed it from inside the post office. So now I try to catch them at my house on yard day every couple of months and pay in person.

Originally Posted by 2000cs

Years ago I had a check stolen and washed. Turns out the crook was an employee of our local post office. Ever since, when I write a check, it is with a sharpie. But I rarely write checks anymore. I use the bank’s bill pay function or have them auto-pay on my credit card.

[dreamingat30fps]

Originally Posted by Suds

The Sharpie is a great idea. I only write checks to my yard crew and I always mailed it from inside the post office. So now I try to catch them at my house on yard day every couple of months and pay in person.

I use the banks bill pay to pay my lawn guy. It's automated and has been running with no issues for a decade probably at this point. I guess he just gets a check automatically sent by the bank every month.

The only issue I can recall ever having was making a deposit in person with a teller. The deposit never showed in my account and I had to go back and argue with them and bring my receipt etc. Before that all my deposits were at the ATM and now pretty much all my deposits are through the mobile app.

[tranquility]

Originally Posted by Tyga11

With credit cards now - they overnight you a replacement card and your pre-pays aren't affected.

That's not the case for me, took like 1-2 weeks? It's a pita.