Why you shouldn't use Banking apps on Android

[TheMystic]

Today, I read a news on how a woman's morphed pics were circulated among some of her contacts, was sent lewd messages, abusive calls, and other types of harassment. And all this for a mere Rs. 3,000 loan she took from some online loan app or something like that. This is just one story. I have read similar stories several times in the past.

That brought me to write this to draw your attention to the much larger malaise of how the Banking and Financial industry harasses non-paying borrowers.

At the outset, let me make this very clear: If you borrow, you MUST pay back. And pay back in time, as per terms of the contract.

Now, if you breach the contract yourself by not paying on time, you are in for a lot of trouble and harassment. There are laws in place to prevent harassment, but I can assure you that lenders know how to exploit loopholes and cause immense harassment and trouble to non-paying borrowers, that has long term implications of tarnishing their image among neighbours, friends and relatives.

This is a huge network of politicians, police, and the lenders themselves. Collection agents are just people working for this nexus. As an ordinary citizen, you have practically just one option if you borrow: pay up. If you don't, they WILL make life hell for you.

As to how this topic is relevant in a forum like this, here is what you need to know:

Banking apps require atleast two permissions for working on an Android phone:

1. Phone: to ensure that the number in use is the registered mobile number. They will also collect other info like your IMEI, device details, etc.

2. SMS: to send an sms automatically for authentication.

But this essentially gives them full access to all your messages on Android, which is actually none of their business. They do it to assist them during litigations. I won't go into too much details, but it would suffice to say that they just have access to information they shouldn't need, and which can be used against you in a court of law.

For downloading statements or anything, they need access to storage. Android has very poor implementation of storage access. I have discussed it here:

How Android File Management should be.... - Samsung Members

Bad idea to allow this permission. If you do, banking apps may upload your pictures to their servers, and use it for morphing purposes to harass you, just as in the example we saw today. You think 'reputed' banks won't do this? If so, you have no idea of reality.

For 'seamless' funds transfer using UPI or other modes of sending money, they may ask for access to contacts. Nice excuse to upload your contacts to their servers, so they can use it to harass you, if required.

Location: To track you. 😂😂

Basically, while there is one good reason for each permission requested, just know that there is always atleast one hidden reason too for each permission. Don't believe me? Borrow and skip a payment. 🤣🤣 You'll wonder where they got this info or that info from!

An iPhone is much better in such matters. Be it SMS, or other permissions, you are better off using an iPhone than an Android phone, by virtue of how each OS is configured and how permissions are handled by them.

How to avoid such nasty activities on an Android phone?

Just use a browser to access internet banking. Keep a browser dedicated for banking activities and clear out all its temp files after each session. An app is much more convenient, but that convenience comes at a price. A very big price if you borrow and don't pay!

Samsung Users can also use Secure Folder or Work Profile, if they don't store their contacts, photos and other private info in those environments. But SMS access is a must and these apps won't work on Android without that permission. So there is still some amount of vulnerability here too!

Additionally, you can also use a UPI based app like GPay or Samsung Pay or PayTM or PhonePay, etc. for normal/ routine payments. These apps are likely to work with just the Phone permission, and anyways they have no interest in harassing you as they are not in the business of lending money.

[Anonymous]

Title padhne ke baad mera post padhne ka mann nahi kar raha (@_@)⊙.☉

[Sid_Karna]

No need to worry. I have never read a news about any of the reputed banks like SBI, Federal Bank, etc doing this. This news(source needed) may be about some fishy apps which play the role of your local money lender(blade) who resorts to rowdyism, online.
You just have to be aware of from which apps and institutions are you availing services.

[Sid_Karna]

Further, consider you avoid all the online banking options and go directly to a bank/money lender to take a loan. Nobody gives you a loan without collecting all your basic details including a copy of any of your identity proofs and passport size photos. So, here goes all the concerns about your vital details.

Also, they can easily get your photos from a myriad of sources these days apart from the photo you give to them. Eg: social media(most use a public profile), using devices like s22 ultra which can take a zoomed pic without you noticing, etc.

On a different note, I use Yono sbi and it works with only 2 permissions allowed, that is phone and SMS. There is no need to give file and storage permissions(yes the post also says it). So, at the end of the day, it's about how you use the app and what permissions you decide to give. It's not mandatory.

So, no, you don't need to stop using ALL banking apps indiscriminately. Now, you can use your rational thinking to come to a conclusion.

[mHappiee]

.

[TheMystic]

Someone wrote paragraphs and paragraphs without reading OP properly. I guess it is excusable as oversight.

But living in oblivion? 🤔🤔 And despite being cautioned? 🤔🤔

All the warnings and caution is provided in OP. Let's hope he pays back on time if he borrows from the institutions he has named. 🤣🤣

[mHappiee]

Which bank ???
.
How can a ligit bank do that ? 🤔
Bank waalo ko apna Bank band karwaana h kya ?
.
I don't believe this..

[mHappiee]

Those privacy things are true... Bad apps/developer/black hat people can do those nasty things quite easily...
.
Therefore it's recommended to install Trusted app (especially banking app) from Play Store ONLY and from no where else...

[TheMystic]

Let's say they have done a good job of preserving that image. 🤩🤩

[ѵօϲɑӀ4ӀօϲɑӀ]

You said Banking apps which is not true, This issue arises with Money lending/Easy loan apps.