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Mobile Money Apps: Convenient and Secure Options

Elderly woman holding mobile phone with the Hawaii State FCU Mobile App

As published in the Star-Advertiser on August 14, 2018.

While nothing can replace the experience of visiting your local brick-and-mortar financial institution, mobile banking apps can make it easy to complete basic transactions at home or on the go.

At the touch of a button, users can conveniently manage their money through their mobile device, such as their mobile phone or tablet. This is especially helpful for individuals for whom it may be inconvenient to visit a branch during business hours.

Along with banking apps, there’s a wide variety of financial apps that can help with budgeting, financial education and security. Read on to learn about the various benefits and capabilities that come with mobile money management.

Banking apps

If you can’t make it to your local branch, many financial institutions have their own mobile app that offers basic features such as viewing account balances, transferring funds between accounts or even depositing checks.

Some apps, such as Hawaii State FCU’s mobile app, offer live chat services so members can interact with customer-service specialists in real time. Individuals who want to learn more about how to use the mobile app may find the live chat feature especially helpful.

Credit card and debit card apps

Credit card and debit card apps allow you to manage your account through your mobile device. Common features include accessing e-statements and reviewing recent transactions. Credit card apps may also allow you to pay your bill and check available credit. Debit card apps may also allow you to transfer money electronically between accounts.

Check to see if your credit card’s or debit card’s mobile app has the ability to create transaction alerts that notify you in the event of a suspicious transaction. Separate apps such as CardLock, offered through select financial institutions including Hawaii State FCU, enable users to increase security by setting alerts for suspicious transactions. It also has the ability to “lock” card use; in the event that your card goes missing, you can temporarily disable it until it resurfaces, which may prevent certain types of transactions from being processed.

Budgeting apps

A bevy of budgeting apps exist that can help you spend responsibly and prioritize financial goals. Hawaii State FCU members can access a free budgeting app that gives you the ability to create budgets for different categories, such as groceries, entertainment and utilities, track your spending throughout the month and even allocate money towards goals such as saving for a home.

Stay secure

When using any mobile app that calls for sensitive information, do your research. Visit the app’s website to get information on the developer and ensure it’s from a trusted source, such as your financial institution or a reputable company. Check to see what security measures the app has in place, such as multi-factor authentication (two or more pieces of evidence that you are the verified user, such as a password and security question), encryption and partnership with leading data security providers.

Find the apps best suited to your needs and start enjoying greater convenience to take better control of your finances.

Learn more about Hawaii State FCU’s mobile app today!

Financial Educator, Jennifer Russo headshot

About Jennifer Russo

Jennifer Russo is Hawaii State FCU’s financial educator. She develops, markets and delivers financial resources to members under the credit union’s financial literacy initiative. She also works with community partners to develop strategies addressing the unique needs of Hawaii’s diverse population.

Jennifer has more than 15 years of experience in marketing and program management within the federal government and private industries. She received her Master of Business Administration from Colorado State University in Fort Collins, Colorado, and holds a bachelor’s degree in mass communications and public relations from McNeese State University in Lake Charles, Louisiana.

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