Personal Finance Apps

How to Safely Use Personal Finance Apps

If you use a personal finance app, such as RobinHood, CashApp, Venmo, Paypal, and more, there are some important steps you can take to protect your personal data.

1. Examine the terms of service for apps you are using.

• Before agreeing to download, review the app’s data retention policies.
• Determine whether the app resells your information.

2. Find out what security features the app offers.

• Take advantage of any features that ensure your personal information remains safe.
• If you can, opt in to two-factor authentication for an extra level of protection.

3. Always confirm the validity of the app.

• Make sure you are downloading the correct app from your app store.
• Don't provide any personal or financial information unless you trust the organization.

4. Change your passwords regularly and avoid repeating passwords.

• Highly secure passwords often contain letters, numbers, and special characters.
• Don’t store passwords on your phone or in a location where others might be able to access them.

5. Do not send money to someone you do not know and trust.

• Always double-check the recipient's information before sending a payment to ensure it is going to the intended person.
• Never share your account information and/or login credentials with anyone.

6. Check your account regularly to verify your transaction history.

• Doing routine checks can help you quickly spot fraud and take action.

• Your financial institution is unable to help retrieve any funds sent through a Mobile Payment App. You must report fraudulent transactions and scams via the support chat in the Mobile Payment App.

Contact us right away if you feel your information has been compromised!

Main Office: 207-623-3857       Winslow Branch: 207-872-2636

Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.