While convenient, there are several safety precautions you should take when banking via mobile.
Password Protect Your Phone/Tablet
Password protect your mobile device when it's not in use to prevent unauthorized access and to protect yourself in case your phone is lost or stolen. Consult the documentation of your device for information on how to set up password protection.
Don't Keep Your Accounts Auto Logged In
Avoid keeping your bank or credit card accounts auto logged in. While the auto login feature is nice, you run the risk of unauthorized access.
Don't Provide Personal or Account Information Unless You Initiate Contact
Your financial institution should not ask for you to supply personal information, such as your social security number or account number, via text or email. Be suspicious of any unsolicited requests for your information. When in doubt, contact your financial institution via the phone number on the back of your debit/credit card.
Delete Old Text Messages from Your Financial Institution
If you bank via text, delete old text messages no longer needed. Again, the idea is to limit exposure.
Report Lost/Stolen Devices Right Away
If your mobile device is lost or stolen, report it right away to your wireless carrier and to your financial institution. Many financial institutions connect your phone number with your account. You'll want to let them know if your device was stolen.