Why Public Wi-Fi Networks and Mobile Banking Don’t Mix

With the growth of mobile banking, managing finances has become easier and more convenient. Many people now choose to handle their banking tasks on their mobile devices instead of visiting payment centers or bank branches.

However, it’s essential to be cautious about the network connection you’re using for mobile banking. Are public Wi-Fi networks safe for these transactions? Why do experts advise against them? Let’s explore this in the guide below.

What are public Wi-Fi networks and where can you find them?

Public Wi-Fi networks are open internet connections that anyone can access. They don’t require passwords or access codes and are typically found in public places like schools, malls, airports, hotels, libraries, or coffee shops. People often use these networks for free internet access on-the-go.

What are the risks of using public Wi-Fi for mobile banking?

Since public Wi-Fi networks are free and accessible to all, they usually lack the strong security features found in private networks, such as encryption. Any data sent or received while connected to a public network can be compromised, especially during sensitive transactions like mobile banking. Public Wi-Fi can expose users to security risks, such as rogue networks, malware insertion, and data breaches.

How can you safeguard your data while using public Wi-Fi?

Although public Wi-Fi carries security risks, you can follow these tips to keep your data safe while banking online:

1. Use a secure, personal network. Instead of using public Wi-Fi, opt for your personal mobile hotspot when accessing online stores or mobile banking apps. Personal network offers better security, such as password protected connection.

2. Turn off Wi-Fi Auto-Connect. The auto-connect feature is very convenient when at home or at work, but it can be risky in public, especially when banking online. To turn off Wi-Fi auto-connect on iOS, go to Wi-Fi settings and set “Ask to Join Networks” to “Ask” and “Auto-Join Hotspot” to “Ask to Join.” For Android, go to Wi-Fi settings, and under Intelligent Wi-Fi, in the three vertical dots section, disable the option for Wi-Fi to turn on/off automatically.

3. Use additional security features like biometrics login and the PNB Digital Key. These features provide an extra layer of protection against unauthorized access to your accounts .