I have my banking app (ING) on my android phone. I find it convenient when doing online shopping since I can just open the app and scan the barcode on my PC. The alternative is having a device (ING scanner) that will scan the barcode and generate a pincode for me that I can use on an online portal.

I am afraid since apps nowadays require all sorts of permissions. One of the apps I really need on my phone requires permissions "view and control screen" and "view and perform actions". I cant uninstall that app since I need it.

I am worried about two things.

1.Some app reading and storing my banking app pincode and then the developer of the app trying to use it while I am asleep. The banking app has a daily max transaction limit but it can be changed after a delay of 4 hours. Imagine someone emptying your bank account while you are asleep since they can just change the daily limit and transfer the money to their own account as they can "view and perform actions"

2.This one is more of an offline threat but I feel like carrying your banking app on your phone is essentially exposing your entire life savings to potential threats.

Imagine you get mugged and the thief forces you to reveal your pincode. The thief can then just open your app and transfer all your life savings to his own account. This is much harder to do if you access the banking site on your pc since you dont normally carry your laptop around.

What do you think ? Am I being paranoid? Should I just keep the banking app on my phone?