IMPORTANCE OF MOBILE BANKING FOR ANNE CURTIS  

HOSTING and acting for several TV shows, taping for product endorsements, and posing for photo shoots and magazine covers are just some of the things that keep multi-hyphenated celebrity and PSBank ambassador Anne Curtis busy. At the recent contract renewal with PSBank, Anne shared how she heavily relies on her smartphone not only to stay connected with friends, family and fans, but also to manage her finances. “Mobile banking is the key for people my age, my generation, now that everything is available on the phone. Young professionals are always on the go, and they don’t always have the time to go to banks. Having online banking makes everything accessible. It’s great for us who are always busy,” she said. Like Anne, on-the-go yuppies can make their lives easier by downloading the new PSBank Online Mobile App. They can use it to pay their utility bills on time, monitor bank accounts, reorder checkbooks, reload their PSBank Prepaid MasterCard, and freeze or block their ATM card in case of loss or theft. * RAD MORE...

ALSO: 5 Mobile Banking Security Tips  

How can you keep your private information safe while mobile banking? It wasn't that long ago that an account deposit or withdrawal required a visit to your bank to complete the transaction. Banking was inconvenient and time consuming. Today, we have lots of options when it comes to financial transactions. Mobile banking is an increasingly popular way to monitor and manage your money.
But how secure is mobile banking? Could a thief sniff out your bank account information digitally? Is it safe to make financial transactions using an app or text messaging, or by visiting a mobile Web site?
The good news is that mobile banking is somewhat secure just because there are so many variations of banking apps and methods in the market.  A thief has no way of predicting which method a potential victim might use. If there were only one standardized method the story might be different. Even so, there are certain rules you should follow to make sure your banking information remains safe.*CONTINUE READING THE 5 TIPS...

ALSO: How Online Banks Work

When was the last time you went inside a physical, brick-and-mortar bank? A little weird, wasn't it? It's kind of like walking back in time, to an age where tellers knew you by your first name and little kids were given leather-bound savings account passbooks for Christmas. Bank branches can feel like ghost towns at times. Big, half-empty rooms with a bored branch manager, an even more bored security guard and one lonely teller retrieving an account balance for a septuagenarian customer. Most of us prefer to do our banking online, whether from a home or office computer or our Web-enabled smartphone. According to the American Bankers Association, 62 percent of American adults prefer banking online in 2011. And that holds true for older Americans. An impressive 57 percent of Americans above age 55 prefer to bank online, up from 20 percent in 2010 [source: American Bankers Association]. All of which makes you wonder, do you really need a physical bank branch at all? If you do all of your banking through your bank's Web site -- deposits, transfers, bill pay, statement delivery -- then what's the point of paying extra fees and maintenance charges that help cover the electric bill for the branch manager's desk lamp? This is the idea behind online banks -- also known as online-only banks, Internet-only banks or direct banks -- which exist entirely on the Internet without any physical branches. The very first online bank was Security First Network Bank founded in 1995 and based in Kentucky [source: Christopher]. Some of the bigger names in online banking today are Ally Bank, ING Direct and Discover Bank. In the rest of this article, we'll explain the services offered through online banks, highlight the advantages of ditching brick-and-mortar banks, and discuss the hottest topic in online banking: security. Keep reading to learn exactly what you can do at an online bank. *CONTINUE READING...


READ FULL MEDIA REPORTS:

Importance of mobile banking for Anne Curtis


PSBank ambassador Anne Curtis with (from left) PSBank Senior Vice President/CFO Perfecto Ramon Dimayuga, Jr.; PSBank Executive Vice President Jose Vicente Alde and Viva Artists Agency President and COO Veronique Corpus.

MANILA, SEPTEMBER 1, 2014 (MANILA STANDARD)  By MST Tech - HOSTING and acting for several TV shows, taping for product endorsements, and posing for photo shoots and magazine covers are just some of the things that keep multi-hyphenated celebrity and PSBank ambassador Anne Curtis busy.

At the recent contract renewal with PSBank, Anne shared how she heavily relies on her smartphone not only to stay connected with friends, family and fans, but also to manage her finances.

“Mobile banking is the key for people my age, my generation, now that everything is available on the phone. Young professionals are always on the go, and they don’t always have the time to go to banks. Having online banking makes everything accessible. It’s great for us who are always busy,” she said.

Like Anne, on-the-go yuppies can make their lives easier by downloading the new PSBank Online Mobile App. They can use it to pay their utility bills on time, monitor bank accounts, reorder checkbooks, reload their PSBank Prepaid MasterCard, and freeze or block their ATM card in case of loss or theft.

* PSBank Online Mobile App is also the only mobile app that allows users to do inter-bank fund transfers and view images of their paid checks. This enables them to immediately send money to their loved ones, fund their checks or monitor their checking account. Users can also enroll in the app’s mobile alert feature to help them secure their accounts and monitor their budget.

“Anne Curtis embodies the spirit of young, mobile Filipinos. Like her, they also strive to manage their finances despite their busy lifestyle. We launched the PSBank Online Mobile App to help them achieve this. It’s all part of the simple and reliable banking experience we offer our clients,” said PSBank Executive Vice President Jose Vicente Alde.

Aside from managing her finances, Anne also enjoys using her smartphone to stay connected with family, friends and her 14 million social media fans on Facebook, Twitter and Instagram. “I enjoy spending a lot of time in social media. These sites allow me to show who I really am. I post everything in there. I tweet what happens in my life every day. It’s been about me sharing my real self with my followers,” she said.

True to this intention, Anne was recently included as the only Filipino in TIME Magazine’s “50 Smartest Celebrities in Twitter,” where she placed 25thalongside Harry Potter author J.K. Rowling and Latin superstar Ricky Martin. In addition to social media, Anne also makes use of her mobile phone to make smarter shopping decisions by visiting online shopping sites.

FROM HOWSTUFFWORKS.COM

5 Mobile Banking Security Tips by Jonathan Strickland


Jonathan Strickland --You can find Jonathan on Twitter at @TechStuffHSW and on Facebook at the official TechStuff page.

How can you keep your private information safe while mobile banking?

It wasn't that long ago that an account deposit or withdrawal required a visit to your bank to complete the transaction.

Banking was inconvenient and time consuming. Today, we have lots of options when it comes to financial transactions.

Mobile banking is an increasingly popular way to monitor and manage your money.

But how secure is mobile banking? Could a thief sniff out your bank account information digitally? Is it safe to make financial transactions using an app or text messaging, or by visiting a mobile Web site?

The good news is that mobile banking is somewhat secure just because there are so many variations of banking apps and methods in the market.

A thief has no way of predicting which method a potential victim might use. If there were only one standardized method the story might be different. Even so, there are certain rules you should follow to make sure your banking information remains safe.

1. Don't Follow Links

You may have heard the term phishing. Phishing refers to the practice of tricking someone into revealing private information. Fishing and phishing are similar concepts -- there's bait involved with both. With a phishing scheme, that bait might be as simple as a text message or e-mail. It may be as complex as a fake Web site designed to mimic your bank's official site, which is called spoofing.

You should never follow a banking link sent to you in a text message or e-mail. These links could potentially lead you to a spoofed Web site. If you enter your information into such a site, you've just handed that data over to thieves. It's always a good idea to navigate to a Web site directly. Enter your bank's Web address into your phone and bookmark it. This will help you avoid bogus Web sites.

On a related note, you should never send your account information or password via text message or e-mail. It's a common phishing scheme to send out bogus requests for such information. Don't fall for it!

2. Avoid Banking While on Public Networks

Many mobile devices allow you to connect to different types of networks, including Wi-Fi networks. You might be tempted to check your balance or make some transfers while you grab a quick drink at a coffee shop. But before you log into your account, make sure you're not connected to the public network.

Public connections aren't very secure -- most places that offer a public Wi-Fi hotspot warn users not to share sensitive information over the network. If you need to access your account information, you may want to switch to another network.

If you're using a smartphone or other cellular device, disabling the Wi-Fi and switching to a cellular network is a good solution. You never know who might be listening in over the public network.

3. Use Official Bank Apps When Possible

Many banks now offer official applications in smartphone and tablet app stores. In general, these apps tend to be more secure than sending information by SMS message or e-mail. Most banks go to great lengths to make sure any information sent across a network by an app is encrypted.

Make sure your bank sanctions the app before you download and install it. Most banks will include a section on their Web sites to let you know about the official app. Once you've verified the app is official, it shouldn't be difficult to download and install to your device.

CONVENIENCE VS. SECURITY

Depending upon your mobile device, you may be able to store passwords so that when you activate an app, it launches directly into the program without the need for authentication.

This makes accessing the app faster, but it's not as secure as entering your username and password each time.

4. Be Careful of What You Download

While there aren't as many examples of malware out in the mobile device market as there are on traditional PCs, the fact remains that mobile devices are just specialized computers. That means it's possible for someone to design an app that could try to access your information. One way this could happen is if the app hides a keylogger.

A keylogger is a program that records -- or logs -- keystrokes. Every letter or number you enter into your phone could be recorded. If a hacker pairs a keylogger with some code that either sends off an e-mail or text message at certain times of the day, you might be sending all your keystrokes to someone anywhere on the globe.

For the moment, mobile devices are less prone to malware attacks than computers. But you should still be careful when downloading apps -- not just your banking app, but all apps.

Do a little research before you download that next widget or game to make sure the app developer has a good reputation.

And if you've jailbroken an iPhone or you've sideloaded unapproved apps, be aware that your data could be vulnerable.

5. Keep Track of Your Mobile Device

Perhaps the biggest risk is also the reason why mobile banking is so popular -- mobile devices are easy to carry around everywhere we go. They can contain everything from passwords to contact lists to our calendar appointments.

Information like that can be dangerous if your mobile device falls into the wrong hands.

Apart from tethering all your gadgets to your body or scrapping all electronics and turning into a luddite, there are a few things you can do to minimize your risk. If your device has a digital locking mechanism you should use it.

Some devices require you to trace a pattern or insert a PIN. While it might slow you down to have to enter a PIN each time you want to use your phone, that layer of security might be enough to keep a thief from accessing your bank account before you can report your phone as missing.

Don't be scared off from using your mobile device to access your bank accounts. Just be sure to practice good, safe behaviors and keep track of your gadgets.

With a little common sense and attention, mobile banking can be both convenient and secure.

How Online Banks Work by Dave Roos

When was the last time you went inside a physical, brick-and-mortar bank?

A little weird, wasn't it? It's kind of like walking back in time, to an age where tellers knew you by your first name and little kids were given leather-bound savings account passbooks for Christmas.

Bank branches can feel like ghost towns at times. Big, half-empty rooms with a bored branch manager, an even more bored security guard and one lonely teller retrieving an account balance for a septuagenarian customer.

Most of us prefer to do our banking online, whether from a home or office computer or our Web-enabled smartphone. According to the American Bankers Association, 62 percent of American adults prefer banking online in 2011.

And that holds true for older Americans. An impressive 57 percent of Americans above age 55 prefer to bank online, up from 20 percent in 2010 [source: American Bankers Association].

All of which makes you wonder, do you really need a physical bank branch at all? If you do all of your banking through your bank's Web site -- deposits, transfers, bill pay, statement delivery -- then what's the point of paying extra fees and maintenance charges that help cover the electric bill for the branch manager's desk lamp?

This is the idea behind online banks -- also known as online-only banks, Internet-only banks or direct banks -- which exist entirely on the Internet without any physical branches. The very first online bank was Security First Network Bank founded in 1995 and based in Kentucky [source: Christopher]. Some of the bigger names in online banking today are Ally Bank, ING Direct and Discover Bank.

In the rest of this article, we'll explain the services offered through online banks, highlight the advantages of ditching brick-and-mortar banks, and discuss the hottest topic in online banking: security. Keep reading to learn exactly what you can do at an online bank.

Online Banking Services and Features

Online banks offer many of the same services provided by traditional banks -- and sometimes a few more.

One of the first questions that consumers have about online-only banks is how to deposit a physical check. The preferred method for most online banks is to scan the check on both sides and upload the check image to the bank's Web site.

Some online banks even let you snap a pic of your check with a smartphone app and make a deposit on the go.

Depending on your online bank, the funds will be available in your account the same day or the next business day. If you don't have a scanner or a fancy smartphone, most online banks also provide customers with free pre-paid envelopes to mail in checks for deposit.

Online banks also offer direct deposit and free incoming wire transfers to make deposits electronically.

Checking accounts and savings accounts are standard at online banks. Even better, most offer free checking with no minimum balance. A number of online banks offer interest-bearing checking accounts, something that isn't standard at brick-and-mortar banks or is reserved for customers with high balances.

As of November 2011, the best interest rate for a traditional checking account is 0.10 percent with a $500 minimum balance, while rates on some online checking accounts are as high as 0.85 percent with a $1 minimum balance [source: Google Advisor]. Debit cards are also standard for online checking accounts.

It's free and easy to transfer money between separate online banking accounts, and free to send money to other customers of the same online bank. Some banks even offer free person-to-person money transfers, even if the recipient isn't an online bank customer. All you need is the person's name, their email address, the bank name and the last four digits of their bank account number [source: ING Direct].

A few online banks offer loans, mortgages and automobile financing. Ally Bank, one of the largest US-based online banks, used to be GMAC, and is still one of the most popular backers of auto loans for US carmakers. Several online banks also offer investment services. The most common are certificates of deposit (CDs), money market accounts, and Roth IRAs and IRA CDs.

Now let's look at a few of the top advantages for choosing an online bank over a brick-and-mortar institution.

Benefits of Online Banking

The biggest benefit of choosing an online bank over a more traditional bank with physical branch locations comes down to saving money. It's common for a traditional bank to charge for checking accounts, ordering physical checks, or for failure to maintain a minimum account balance. It's also common for banks to charge customers a fee for using an ATM at another bank. In contrast, most online banks don't charge any fees at all.

Online banks are able to charge less for banking services because they have fewer expenses to cover. Think of the costs associated with running a large chain of bank branches: the cost of buying or renting the land, constructing the building, employee salaries, utilities, the list goes on. Because most online banking services are provided by a roomful of servers and an outsourced customer service staff, there is much less overhead [source: Roberts]. And some of those savings can be passed along to customers.

For example, most online checking accounts are free, with free checks and no minimum account balance. Several online banks offer 100 percent free ATM services at any ATM in America. Any fees that you are charged by another bank are reimbursed with your monthly bank statement.

Another benefit of online banking is higher interest rates on checking accounts, savings accounts and investment products like CDs and money market accounts [source: Bomberger]. In this case, the differences can be significant. As mentioned on the previous page, the rate for a $1 minimum balance online checking account is eight times higher than a traditional checking account with a $500 minimum balance.

Security is a major concern with online banking

According to the 2010 Global Online Consumer Security Survey by security firm RSA, 86 percent of respondents said they were "very concerned" or "somewhat concerned" about having their personal information stolen or misused while banking online [source: RSA].

Although losses related to online banking fraud have decreased significantly over the past five years, it still costs consumers tens of millions of dollars a year in countries like the U.K. and U.S. [source: Kirk].

Phishing scams are one of the most popular methods of committing online banking fraud. The classic phishing scam consists of an e-mail that looks like it's from your bank, complete with logos and graphics.

In the e-mail, your online bank says that your account will be terminated unless you click on a link and confirm your account information and personal information like your date of birth and Social Security number. Criminals can then use this highly sensitive information to access your real bank account or apply for credit cards in your name.

Recently, Chase.com posted an example of a phishing scam that used a phony pop-up window where users are asked to enter their account information [source: Chase].

The best protection against phishing scams is the knowledge that your bank will never e-mail you and request your personal information or account information. They already have that information on file. If you ever receive a questionable e-mail, the best advice is to call your bank's customer service line and see if the message is legit.

Another concern with online banking is the financial integrity of the bank itself. Is this a fly-by-night operation or a stable, well-financed institution? For peace of mind, make sure that you work only with online banks that are insured by the FDIC [source: Bomberger].

The FDIC was established in 1933 to protect depositors in the case of a bank failure. The typical FDIC insurance policy guarantees up to $250,000 in deposits for each individual [source: FDIC].
 


Chief News Editor: Sol Jose Vanzi
© Copyright, 2014 by PHILIPPINE HEADLINE NEWS ONLINE
All rights reserved


PHILIPPINE HEADLINE NEWS ONLINE [PHNO] WEBSITE