It appears that Americans are doing almost nothing to avoid going to the bank. The proof is that mobile banking is overwhelmingly popular. According to an American Bankers Association survey in September 2011, 62% of Americans prefer to do all their online banking, up from 36% a year earlier[ source: ABA]. And most banks now offer mobile apps for same services–balances, transfers, payments–on smartphones or tablets. USAA was the first bank to offer mobile deposits a few years ago to give a front and back image of a check on a telephone and immediately credit funds to the account[ Source: Stellin].
SMS banking is a popular mobile banking method, but is less secure than a mobile banking application. SMS messages coming and going are stored on your phone and you could possibly put your old messages together to access your account. On the other hand, banking apps do not store any account or password information on the device itself. In addition, bank apps communicate with servers of the bank using their own encryption algorithms, protecting data integrity from the device into the bank account and back
Smartphone and tablet users never save their passwords on online bank accounts in the browser of the device for the safest mobile banking experiment. You should also not conduct online banking sessions through public Wi-Fi or Wi-Fi connections that can not be encrypted. Finally, make sure that when your session is over, you close all browsers and banking applications.
The good news is that banks such as Wells Fargo and Bank of America have guarantees online banking that extend to their mobile users. These guarantees cover 100 percent of fraud as long as you don’t make a foreigner from Ukraine any stupid thing like emailing your Social Security number.