Equity Bank Uganda’s mobile banking services, accessible via the Equity Mobile app and *247# USSD code, have transformed financial access for millions of Ugandans. However, with the rise in digital transactions comes the risk of cyber threats like fraud and phishing.
Securing your mobile banking account is critical to protect your funds and personal information. This article provides a step-by-step guide to safeguarding your Equity Bank mobile banking account, addressing common risks, and offering practical tips for Ugandan users.
How to secure your Equity Bank mobile banking account
Set a Strong PIN
When registering for the Equity Mobile app or *247# USSD, choose a PIN that is hard to guess. Avoid predictable combinations like your birth year or “1234.” The app requires a four-digit PIN, while USSD uses a similar setup. Change your PIN regularly via the app’s “Settings” or USSD’s “Change PIN” option. Never share your PIN with anyone, including bank staff, as Equity Bank never requests it.
Enable Biometric Authentication
The Equity Mobile app supports fingerprint and facial recognition for login, adding an extra layer of security. To enable this, go to “Settings” in the app, select “Biometric Login,” and follow the prompts to register your fingerprint or face. This feature, supported by recent app updates, reduces reliance on PINs and protects against unauthorized access if your phone is stolen.
Monitor Transactions with Alerts
Activate SMS or email alerts for all transactions. In the Equity Mobile app, navigate to “Notifications” under “Settings” to enable real-time alerts for deposits, withdrawals, and transfers. This helps you spot suspicious activity immediately. For USSD users, dial *247# and select “Mini-Statement” regularly to review recent transactions.
Avoid Public Wi-Fi and Secure Your Device
Avoid accessing the Equity Mobile app over public Wi-Fi networks, which are vulnerable to hacking. Use a secure mobile data connection or a trusted Wi-Fi network. Keep your phone’s operating system and the Equity Mobile app updated to the latest version to patch security vulnerabilities. Install reputable antivirus software to protect against malware that could compromise your banking details.
Recognize and Report Phishing Attempts
Be cautious of unsolicited calls, texts, or emails claiming to be from Equity Bank, especially those requesting your PIN, OTP, or account details. Recently, fraud incidents targeting mobile banking users in Uganda surged, often through phishing scams. If you receive a suspicious message, do not click links or share information. Report it to Equity’s customer service.
Temporarily Block Your Account if Needed
If you suspect unauthorized access or lose your phone, the Equity Mobile app allows you to temporarily block your account. Go to “Settings,” select “Security,” and choose “Block Account.” However, some users have reported issues unblocking accounts without visiting a branch, so contact support promptly if needed.
Additional Tips for Security
- Always log out of the Equity Mobile app after transactions to prevent access if your phone is misplaced.
- For internet banking via EazzyNet, enable two-factor authentication, which requires an OTP sent to your registered phone.
- Stay informed about common fraud tactics. Equity Bank’s website emphasizes digital literacy to combat cyber risks
