Warning to South Africans with banking apps on their phones

Well it is kinda like a wallet with cards in it. In this abusive respect.


My rule of thumb with cards is to keep the access limits low with the cards I travel with.
With banking apps - tried using it with virtual cards, decided I didn't need it enough.
Recon I'm therefore in a safer condition.

Will of course depend on where we are, and if we walk a lot, etc.
 
My late step father worked in the town in Jo'burg, a fairly bad area. Used to walk to the bank with thousands in cash on him every morning, never had an incident.

🤷‍♂️
 
DreamKing said:
I don't want to have your app until you force me.

but now you "warn" me? gfy.
Click to expand...

To be fair, the banks are forcing you to use the app. MyBB are the ones writing sensationalist clickbait headlines about "warning" people.

I've grown less patient with reading this type of content on MyBB, so I only skimmed the text, but no where did a warning from the actual banks stand out to me.

A few years ago, I would say I clicked through on about 70% of MyBB articles in my RSS feed. Now that is probably less than 20%, because I'm so sick and tired of the clickbait headlines.

But credit where credit is due, while my engagement has dropped, my 75 year old Mother at least now cites MyBB headlines to me (she doesn't read the articles). So well done I guess in expanding your audience to little old ladies through scary headlines.
 
supersunbird said:
And now Capitec wants to force me to get my primary banking on an app on my cellphone :rolleyes:
Click to expand...

They're probably just trying their luck, not possible for them to do this to all their customers as many won't have a smartphone.

Standard Bank tried something similar, many months later they have cleared up all the remaining "confusion" for me.
 
Obligatory XKCD


security.png

xkcd.com

Security

xkcd.com xkcd.com
 
After reading the kidnapping bit.. i stopped

imagine not having the app on your phone.. you gonna get moered harder then.

like have cash on you or a phone thief comes to you pulls a knife and tells you hand it over and you say no or i cant ... you get stabbed.

So imagine getting kidnapped and then give me all your money.. k but i dont have access
what go kidnap the accountant?

Brian_G said:
My late step father worked in the town in Jo'burg, a fairly bad area. Used to walk to the bank with thousands in cash on him every morning, never had an incident.

🤷‍♂️
Click to expand...

If you look like you have money and showing off they will try it.

if you look like you dont have money they wont waste their time

If you look like you going to cause them trouble they wont try it
if you look weak and easy they will try it.

ive known guys to get robed of thousands a lot.. i did ask why dont you stop carrying 20k all the time then?

Newsfeed said:
Warning to South Africans with banking apps on their phones

Nedbank said it observed an increase in robberies, hijackings, and short-term abductions, during which criminals force victims to access banking apps and authorise transactions.
Click to expand...
Yet you call them and the first thing they ask is open your app.
 
  • Control your exposure: Set daily transaction limits and enable instant notifications for account activity. Where possible, limit the visibility of certain accounts or balances within your banking app.
Click to expand...
This really annoys me, daily transaction limits are useless if someone has access to your phone (or co-erces you) you can simply go over the limit and approve the change on the device :rolleyes: .

Not just one bank either, Standard and FNB both have this flaw...
 
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