Cell phone banking?

[DeadPoolX]

Maybe I'm old-fashioned (or paranoid), but who would really want to do their banking on a cell phone? Since most people have a "smart phone" today, many banks and other financial institutions have decided to create applications that allow for easy online banking.

I don't mean small regional banks, either. There are cell phone banking applications for BoA, Chase, Fidelity, TD and presumably many others.

I do my banking online, but at home and through a wired connection and a firewall. I wouldn't even trust a wireless PC connection to do my banking. Even so, a computer wireless connection is probably a lot safer than using your cell phone!

Cell phone data and calls can be intercepted a lot easier than wired/wireless Internet traffic on a PC. Assuming no one did intercept the data, it's always possible to lose your cell phone. If that happened, it's conceivable that someone would use it.

I know what you're thinking: that's why you have a password to do online banking. Yes, you're right, but... I have to imagine the sort of person who'd bank on a cell phone also has their password set to "always remember" as well.

Am I alone here in thinking that cell phone banking is a bad idea?

[Collector]

I'm with you, in that while I do most of my banking online, I only do it at home on my desktop. Identity theft is one of the most common crimes and mostly because some people are a little too lax about security. I have never checked my accounts at work where key loggers and other monitoring programs are often used and where others have access to my PC. I also never access my accounts from my laptop, where I always use a wireless connection and being portable, it could be lost or stolen.

[BBP]

Don't get it either. I hate cellphones. Seeing how people trust their music, their intimate photos and videos, their personal contacts, online activities, banking etc onto a small device that you can lose in the blink of an eye is a bit of a shocker.

[Maiandra]

Yeah, I thought that was pretty ridiculous as well. At this stage of cell phone/smart phone technology, I'm not convinced it would be secure enough. I tend to be exceedingly cautious about that kind of thing as well. I can't get over how careless people are with their personal information sometimes.

[DeadPoolX]

I have a huge list of contacts in my Blackberry, but that's mostly because it's easier to do that than use business cards or a roledex (anyone remember those?) I try not to put TOO much personal info in my phone, but business or shopping related information is fine, so long as nothing too important is listed.

Sometimes I do list "important" items, like library card numbers, but I don't worry about that too much. If someone managed to steal my library card, well... I won't lose much sleep over it. Besides, if someone did steal it, that'd mean they either have my phone or wallet. I care more about those two items than my library card.

[BBP]

Oooh be careful with that DPX. My sister had her library card stolen, and the thief used that item to borrow without return a number of library CDs. My sister was left with the damage bill, which was quite a hefty sum, especially for a teenager.

[DeadPoolX]

Seems unlikely to me that a thief would think, "Oh yeah, baby! I can rent books, CDs and movies now!" They'd probably look for items like passwords, financial data, using my cell phone to make pricey calls or if it's my wallet, cash and credit cards.

Besides... Maia and I go to the library enough that I'd simply have a new card made up and the other one canceled. I couldn't even check a book out without the physical card. I just keep the numbers in my phone if I need to renew a book and I'm not at my computer or at the library itself.

Come to think of it, my library card might expire soon. I'll need to look into that.

Regardless, having a library card number on my phone is nowhere near as bad as doing your banking through it. I still can't imagine that since it'd be possible to get someone's password and/or security questions, plus the actual account number(s).

[BBP]

Actually we assume he sold them on. Of course he was a pickpocket and was probably disappointed by the low booty to have to stoop to going to a library.

[Rath Darkblade]

Identity thief stealing library card info. LOL! "Aw, that wasn't worth it - all I can do is borrow books and CDs. D'oh!"

Anyway, I agree with everyone on this thread re: cell phone banking. I'd never do it. There's way too much risk involved, and besides, it's simply unnecessary for me.