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How digital banking technology can make your accounts even more secure

With so much financial activity happening online, it's important to protect yourself
Posted at 1:57 PM, Oct 12, 2023

With so much of our financial activity happening online, it's important to protect yourself.

Shelby Peterson with Mountain America Credit Union says there are many benefits that come along with using digital products and services.

The key, she says, is to use them as safely as possible and take advantage of the protective features available to you. Every financial institution and app is different, so you'll need to check with your institution.

Shelby says, "At Mountain America, we make it easy for members to set up account alerts to get notified of certain activity quickly. That might mean setting up an alert to be notified any time there is a transaction on your account over $50, or any time your debit or credit card is used to purchase something. That way you can look out for unexpected activity on your account in real time."

If you get an alert that something isn't right, Mountain America as well as many other institutions, let you lock your credit or debit card right from the app.

That will prevent further charges – by you or anyone else – from going through. You may be able to dispute those transactions online or in the mobile app. You can also order a new card, if necessary.

One of the newer technologies seeing wider adoption is the mobile wallet. Mobile wallets are apps for your phone that store your credit and debit cards, store loyalty cards, event tickets, things like that. You can then press your phone up to a reader – like you would tap to pay with a credit card in a store – and securely use your payment method or other information.

Shelby says what's nice about the mobile wallet is you don't need to carry around one or more physical cards that can be lost or stolen.

Even if someone were to get your phone, they wouldn't be able to open your mobile wallet without your fingerprint, facial recognition or some other kind of passcode.

So it's safer than walking around with your physical cards, and many places are accepting tap-to-pay and mobile wallets now.

Shelby says you can do just about anything through a mobile app that you might do in a branch these days. Depositing checks is as simple as taking a picture. Opening additional savings accounts or certificate accounts can be done with just a few clicks online. You can even apply for loans.

And for Mountain America members who have a MyStyle Checking account, you can access great rewards and other perks right through your Mountain America mobile app.
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