PITTSBURGH -- With devices like the iPhone transforming how the world communicates, the amount of people using their phones to pay bills, check balances and transfer money has reportedly tripled in the past, raising the question as to whether it's a smart move to use a smartphone for banking.

"Oh, it's great. I use it all of the time and it really is helpful," said mobile banker Jonathan Sloan.

But as mobile banking grows in popularity, has some afraid to take the security risk.

Carnegie Mellon University professor and former FCC chief technologist David Farber says that in general, mobile banking is as safe as a logging in from a home computer.

"It's pretty secure -- more secure than your debit card," said Farber.

Still, cell phones could lead to dangerous links if users are not careful and could contain sensitive information if stolen.

"Keep your PIN or your password -- whatever it is -- keep it in your head, not on the phone," said Farber.

Mobile bankers should also check if their bank's mobile Web site is secure and if they cover mobile cyber fraud.

Users should also make sure to log off when done and be weary of any text messages claiming to be from a bank.

Some banks, like PNC, offer secure applications that can be installed on a smartphone.

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