If you already had an app on there that stored your password to your bank account, how could you safely say that it is safe if your phone did not have a lock on it to block access to the app?
BL.
And here is my point. Why would I leave any of my apps for stuff like bank accounts or paypal so that one could just have my phone to log in? I never ever use auto log in for any of those things on any device (in fact on my computer I don't even let it save my user name normally though I admit I got lazy on my phone and usually do let it... which is kinda stupid if you think about it cause I take my phone more places and it is easier to lose). If it is something that I really don't want a thief to get, they'll have to log in first to get to it, I'm not making it easy for them. And unless you use a long, complicated passcode to get into your phone (like something really secure), you're silly to rely on just that passcode but have everything else auto login (cause that means the thief just has to figure out one easy passcode, and they have software that will do that very quickly, and then have access to everything). And do you guys who use passcodes do more than just 4 digits or a word? Just to log in to your phone? I bet most of you don't.
Nothing on my phone that is really important for thieves not to get (besides friends email/phone/addresses which a lot of that stuff the thief could get otherwise and probably isn't what he's interested in honestly) is auto login.
Now, I'll admit I'm a hypocrite, cause i do use a password saving program on my phone (which does mean I am using one password that gives them access to everything), but I also use a really good password to get into it. I would not do that complicated of a password to get into my phone everytime though (this way I only need to put that passcode in for a password I don't remember, which usually means it's a password I don't use that often so it's not like I get annoyed at having to use the long password to get to it. But it's not written down anywhere and even the ways I have to remind me don't remind me of everything so I if I forget certain parts I will have no access myself). So in my opinion it's still better than just relying a passcode to get into my phone cause I'm less likely to make a lazy password because otherwise it would be annoying to have to enter a good one every time I used my phone (which is a lot).
So for me, it's a good compromise between convenience and security. I will agree though that people who think they are safe cause they are never going to lose their phone are too overconfident. It can happen to anyone, I don't care how organized or all together you are. Things happen, people make mistakes, sometimes it's things out of your control even if you didn't make a mistake (there is no way you can have control over everything).
