Digital Banking: Here’re The Ways To Navigate

Outlook Money

Mobile and Online Banking 

There's an increase in the trend of people switching to online and mobile banking. In such a scenario, it becomes important to understand how to use them. 

Mobile and Online Banking

Steps To Navigate 

1] Bank-Specific Mobile Apps- One must use only the official apps of banks. These can be downloaded from trusted sources like Google Play Store or Apple App Store.

Steps To Navigate

Fake Apps 

Multiple fake apps can steal all the login details and get access to one's bank. Therefore, one must be very careful with the app being used. 

Fake Apps

2] Enable Two-Factor Authentication (2FA) 

Two-factor authentication is an extra layer of security for the banking apps. Here, there are two steps of logging in which usually is the password and a code sent to mobile.

Two-Factor Authentication (2FA)

3] Use UPI Apps with Caution 

Unified Payments Interface (UPI) apps should be used with caution. Only the government-backed BHIM app or popular options like Google Pay, PhonePe, and Paytm should be preferred. 

UPI transactions

UPI Safe Habits 

One should never share the UPI PIN, verify the receiver's name, or payment requests and avoid scanning QR codes. 

UPI App

4] RBI’s Digital Locker and Complaint Portal

Digilocker app lets one store digital copies of important documents like Aadhaar, PAN card, driving license, and more. It can help during fraud. 

RBI’s Digital Locker

5] Keep Tools Updated

A reliable antivirus should be installed on the phone Or computer and there should be auto-updates. 

Keep Tools Updated

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