Wausau (WAOW)-- Remember when banking on your computer was a big innovation? That's so yesterday. Now it's all about banking on the move. Consumer Reports Money Adviser sizes up the benefits of mobile banking and has the security precautions you need to take.
Like a growing number of people, Katy Rosati does almost all her banking on her smart phone.
"I don't need to find an ATM or a computer to know what's going on in my bank account."
Consumer Reports Money Adviser says banking on a cell phone is like having an ATM in your pocket.
Text banking can be done with the simplest of phones. You send messages to get your account balances, and you get text messages when your balance is low or when your withdrawals or deposits are posted.
If you have a smart phone, like Katy, or a tablet computer, you can transfer money and pay bills, too. It seems so easy.
There are also banking applications designed specifically for your bank and model of phone. Chase, for example, will let you take a picture of your check with your camera phone and deposit it.
But you do need to make sure your banking on the go is secure.
Here are a few tips to consider when banking on the go.
1. Never do mobile banking on a public Wi-Fi network.
2. When on your bank's web site, always look for the little lock symbol in the browser to know that you're on a secure site.
3. Install security software.
This way you can safely join Katy and 39 million other Americans who already do mobile banking.