A new smartphone often means better performance, a fresh design and innovative features. Yet while it is often easy to transfer most apps to a new device, this could get complicated when mobile banking apps are involved. Why? Security measures and different software solutions employed by various banks may make any change-over a complicated matter.
Many banks use two-factor authentification (2FA) to ensure only account owners themselves can access an account. When changing to a new device, owners therefore have to re-confirm their identity. This is frequently done using a QR code or activation letter by post – a time-consuming method. It is therefore advisable to keep your old smartphone for a while longer until you have successfully set up your mobile banking app on your new device.
Each bank has its own IT solution for their app, so that changing to a new mobile phone might look different from one bank to the next. With traditional banks in particular, reactivating your mobile banking app might require several steps. It is advisable to look into what exactly your bank requires here.
With neobanks such as Neon or Revolut, it is easier to swap phones: As they are completely app-based, they go for more slimline security solutions which might just make any change more straightforward.
It is vital to properly protect you smartphone. You can do so by following our 5 steps for your digital security. Once you have successfully migrated your mobile banking app to your new smartphone, there are a few points to consider when using it: Detailed information on this topic can be found here.
