Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device such as a mobile phone or tablet. It uses software, usually called an app, provided by the financial institution for the purpose… is usually available on a 24-hour basis. Some financial institutions have restrictions on which accounts may be accessed through mobile banking, as well as a limit on the amount that can be transacted. Wikipedia
Bank customers are increasingly going mobile for a lot of reasons and banks are not left behind in attempt to impress their customers with the most friendly apps. Almost if not all the banking functions that may be performed at a bank branch or on a desktop computer can be performed on your mobile phone. More interestingly mobile banking transactions are free and very fast.
Here are some of the things that is making mobile banking increasingly popular.
Mobile banking apps comes with encryptions that protects your financial informations, your privacy and identity. Most bank adopt the use of 2 factor authentication to protect your account informations. Apart from your initial login username and password you will also need to provide transaction password before a financial transaction can be consummated on your mobile App. There is also the use of special token that most bank have implemented on their mobile banking apps. The special token generated on a small device allows you transact up to a certain amount at a time. The adoption of maximum daily transaction limit by banks on their mobile application is also another form of security for bank customers using mobile.
With your mobile banking application, you will be able to do all your banking transactions on the go. Your time and schedule Is saved from having to visit banks to get serviced. Anywhere you are all over the word at anytime of the day you can access your account, pay your bills, block a lost or stolen card, set up standing payment instruction to a third party account and do much more banking transactions without having to interrupt your time and schedule.
Some mobile banking apps give you the convenience of depositing cheques directly into your account, locating the nearest ATM for cash withdrawals and conducting investments..
It keeps you in control of your account, you can confirm your withdrawals and payment and even view mini statement of your bank account on the go. You can quickly effect transfer to and from your account to meet emergency needs or bill payment without the need to visit a bank branch. You can also quickly fund your account if you are above the set limit to avoid penal charges.
Download your bank mobile App today and enjoy banking on the go.
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