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Once You Lose your Phone, You Lose All Your Money In Your Bank Account. - Phones (2) - Nairaland

Nairaland Forum / Science/Technology / Phones / Once You Lose your Phone, You Lose All Your Money In Your Bank Account. (50097 Views)

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Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by EconomistXplain: 2:24pm On Jan 19
Kobicove:
I have partial solution to this...all my bank accounts are tied to just 1 SIM card and that SIM card is in a cheap torchlight phone which I keep at home permanently grin

not much of a solution...simply lock that sim card ...den u can carry it around as u like

4 Likes

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Kobicove(m): 2:24pm On Jan 19
sihamey:


So you don’t do mobile banking ? The problem is not the SIM card you use for your bank account but mobile banking app you use for transactions can be manipulated when you loose your phone.

My formula
Always freeze your account with your mobile app unfreeze it when you wants to do transactions in this case if someone steal your phone and try to use your bank app he will not succeed

Yes I do mobile banking but my bank app and the SIM card linked to the account are on 2 different phones

2 Likes

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Angelfrost(m): 2:25pm On Jan 19
I remember when my phone got picked up at gunpoint... The very first thing I did on getting home was call MTN Customer Service to block the line.

God bless MTN for their round-the-clock and swift response... This call was made by 11:30 pm, and they responded fast.

As for the bank APP on the phone, that's strictly for my spending account! I'm not mad to leave huge savings on an account with an atm card or bank app!


Surviving in Nigeria is not for the weak or dull! Imagine the stress one has to go through just to keep his money safe. undecided

8 Likes 1 Share

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Calitoscassius(m): 2:25pm On Jan 19
sihamey:


So you don’t do mobile banking ? The problem is not the SIM card you use for your bank account but mobile banking app you use for transactions can be manipulated when you loose your phone.

My formula
Always freeze your account with your mobile app unfreeze it when you wants to do transactions in this case if someone steal your phone and try to use your bank app he will not succeed
Feeze or unfreeze, it can still be compromised, the main problems are the banks not the scammers.

1 Like

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by eventainment(m): 2:26pm On Jan 19
tochez24:


You loose your money because you're actually DUMB, not because something is wrong with the Nigerian banking system⚠️

If you're not technically inclined, please avoid using ATM cards and nothing will happen to money if you loose your phone!!!!

But, if you're smart and technically exposed like me.... First thing you do is to lock your alert sim with a unique password, then proceed to lock with your atm cards, bank apps and ussd with passwords. To be on a safe side, you can use one long unique password for all of them, linking them to just one mobile network which you have already passworded too.

And please do not share this details with anyone, whether with a friend, family or scammers impersonating bank staffs.

That way when you loose your phone, nobody can even access your mobile line talkless of your bank account😆😆

I have lost my phone severely times and nothing happened to my bank account 💯


Now the challenge of fingerprint login is something you are not looking into. More than one fingerprint can be added on the device and that is another challenge. So tentatively everyone wants fast transactions
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by sammirano: 2:26pm On Jan 19
Na u be dat. My Security Code will force you to switch off the phone after which SIM PIN will greet you welcome with a password impossible to crack in 10 attempts.

7 Likes

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by 4tomandchi: 2:27pm On Jan 19
This assertion is false the best way to protect your money is to put a SIM password they only have 5 attempts to try and unlock your SIM after which your network will block the line. It looks stressful because every time you restart or swap devices you will need your pin to access your phone.

1 Like

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by olisaEze(m): 2:27pm On Jan 19
Speak for yasef my broda, if I lose my phone the only thing lost is my phone. My contacts are clouded behind a haze of Loud inside my head along with my bank details. cool

1 Like

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by damosade(m): 2:27pm On Jan 19
Nigerian banking systems is on ISO99012.
One of the most secured in the world. So any thing that happen to your account is a negligence by you. No 1 weakness in any security system is.

PEOPLE

11 Likes 2 Shares

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by femi4: 2:28pm On Jan 19
Truvelisback:
Good day, fellas. The Nigerian Banking System is very weak. Once you lose your phone, you lose all your money in your Bank a/c. This is very bad.
lock your sim card

1 Like

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by MrBroke(m): 2:28pm On Jan 19
That one na ona. grin. My money no fit miss for my account.
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by casualobserver: 2:28pm On Jan 19
Truvelisback:
Good day, fellas. The Nigerian Banking System is very weak. Once you lose your phone, you lose all your money in your Bank a/c. This is very bad.

The banking system is not weak, the customers are ignorant.

3 Likes

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Deogratiasfx: 2:28pm On Jan 19
1Sharon:
How? I went to Nigeria last month and since I don't have a Nigerian number, I used my cousin's number to register.

Does it mean she has access to my funds?

Yes na....everything
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Calitoscassius(m): 2:29pm On Jan 19
EconomistXplain:


not much of a solution...simply lock that sim card ...den u can carry it around as u like
It can still be compromised, solution is do all your banking in a branch personally, even that could be compromised in Naigeria, the problem is the bank or bank employees not so much the scammers almost every adult is untrusthworthy in Naigeria.
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Truvelisback(m): 2:30pm On Jan 19
tochez24:



first of all.... Nobody on earth can steal your money through bank app or ussd without your password, unless they got it from you in one way or the other without your consent⚠️

Secondly, to strengthen your protection... You can simply lock your phone and alert sim card. That way, when you loose your phone nobody can break into your phone, talkless of performing any transaction...absolutely nobody♂️
Who told you that? A guy borrowed a phone from someone in pretense that he wanted to check livescore. This guy wiped out his bank A/c. Note: This guy didn't know his pin.

1 Like

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Sleekfingers: 2:30pm On Jan 19
1Sharon:
How? I went to Nigeria last month and since I don't have a Nigerian number, I used my cousin's number to register.

Does it mean she has access to my funds?


Yes....
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Calitoscassius(m): 2:30pm On Jan 19
1Sharon:
How? I went to Nigeria last month and since I don't have a Nigerian number, I used my cousin's number to register.

Does it mean she has access to my funds?
Ooooo yess!! She has or anyone who gets hold of her phone or sim has access to you bank.
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Cassandraloius: 2:31pm On Jan 19
Everything about Nigeria is not working properly.

1 Like

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Truvelisback(m): 2:31pm On Jan 19
casualobserver:


The banking system is not weak, the customers are ignorant.
How? When theirs pins aren't shared?
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Angelfrost(m): 2:31pm On Jan 19
tochez24:


You loose your money because you're actually DUMB, not because something is wrong with the Nigerian banking system⚠️

If you're not technically inclined, please avoid using ATM cards and nothing will happen to money if you loose your phone!!!!

But, if you're smart and technically exposed like me.... First thing you do is to lock your alert sim with a unique password, then proceed to lock with your atm cards, bank apps and ussd with passwords. To be on a safe side, you can use one long unique password for all of them, linking them to just one mobile network which you have already passworded too.

And please do not share this details with anyone, whether with a friend, family or scammers impersonating bank staffs.

That way when you loose your phone, nobody can even access your mobile line talkless of your bank account😆😆

I have lost my phone severely times and nothing happened to my bank account 💯

Bless you for this!

The first rule of the crime-ridden Naija society:

Never have an ATM card for an account with huge savings! Have another account for expenses, and only credit what you need to spend at a given time.

Anyone who steals my ATM card will just be wasting his time.

4 Likes

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Truvelisback(m): 2:32pm On Jan 19
damosade:
Nigerian banking systems is on ISO99012.
One of the most secured in the world. So any thing that happen to your account is a negligence by you. No 1 weakness in any security system is.

PEOPLE
Did you just say secure? Lol.
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Nokio2: 2:33pm On Jan 19
60% of people just dey look u
Which money for which bank
This tinubulation wey person dey permanent debit shou!
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by TOPCRUISE(m): 2:34pm On Jan 19
Ensure you lock your sim. And if you lost your phone you won't lose your money in any of your bank account
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by ivolt: 2:35pm On Jan 19
Truvelisback:
I think it isn't safe either because of the use of U.S.S.D code.
How is it not safe?
The scammers will disappear into his house to use the torchlight phone?
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by XtraFortunes: 2:35pm On Jan 19
libertyfather:
lock your sim and lock your phone, the only way they can steal your money is having the phone in unlock state and all operation is done before the phone hibernate and lock back..in other way keeping the sim at home also work what of alert and some other important runninz?
.

You can check your alert on emails. You have data on your phone so you can check even though your main sim is at home. My banks send email alerts, if your bank don't, then you can go to the bank to activate it.
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by chiagozien(m): 2:36pm On Jan 19
sihamey:


So you don’t do mobile banking ? The problem is not the SIM card you use for your bank account but mobile banking app you use for transactions can be manipulated when you loose your phone.

My formula
Always freeze your account with your mobile app unfreeze it when you wants to do transactions in this case if someone steal your phone and try to use your bank app he will not succeed
How will someone operate your bank app without opening your phone
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by casualobserver: 2:36pm On Jan 19
Truvelisback:
How? When theirs pins aren't shared?

what kind of question is this? what exactly are you asking? how what? this is the problem of ignorance and poor education with Nigerians as i stated earlier....you ask a question and it is not clear what exactly it is you are asking...its no surprise you dont know how to use a bank account.

1 Like

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by BlaqT: 2:36pm On Jan 19
Lock your Sim,if you loose your phone they will surely flash it or put your Sim in another phone,your Sim won't open as long as it's locked

1 Like

Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by BurntDodo: 2:36pm On Jan 19
Na who get money go dey run kiti kata nau 😂😂
Re: Once You Lose your Phone, You Lose All Your Money In Your Bank Account. by Omololupromise: 2:37pm On Jan 19
The best option is to password your sim card

2 Likes

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