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Advantages Of Mobile Banking

A significant boom in the number of people using smart phones these days hasn’t gone unnoticed. Service providers have explored this new avenue by providing products and services over Smartphones. Bank shave broadened their own band of services by introducing mobile banking for their customers.

Mobile banking has also revolutionized the e-commerce opportunities. It has introduced customers to virtual banking, allowing customers to virtually access all the services a bank provides. By downloading the Mobile Banking app provided by your bank, you can carry out all your banking transactions and more.

Choose to access your personal accounts, view account statements, transfer or transact funds between multiple accounts, pay for utility services, shop, make purchases and do much more on your mobile.

Mobile banking is packed with features

  • Access your bank accounts and the associated services anytime, anywhere around the globe. Your banking hours are no more limited. Use the mobile banking application to access your account and perform almost all the activities your banks provides.

  

  • Transfer funds between multiple accounts via mobile banking with ease. Authenticate a transaction and transfer funds within no time.

 

 

  • Pay your utility bills using your mobile banking app. Why wait in queues or use physical modes of payment, when you can simply pay electronically? You can also pre-schedule your payments by choosing for the auto-pay option.Some apps als0 allow you to set reminders on upcoming bills
  • Purchase goods and commodities over the mobile phone and pay with simple electronic payments via the mobile banking applications.
  • View all your account and credit/ debit card details and statements via the mobile banking application.
  • Request for loans/ cheque books/ Demand Drafts/ Stop cheque orders following a simple set of instructions.
  • Get instant SMS alerts on every transaction made via your bank account. Register using mobile banking to receive instant SMS alerts.
  • Locate nearest ATMs and branches near you. Mobile banking comes enabled with GPS technology to identify the ones available near your location.
  • Some apps go a step further and offer a personalized mobile banking experience. For example, the new Axis Mobile app from Axis Bank customizes the theme and the features available depending on the kind of banking relationship a customer has. The customers also have the options to customize their home dashboards, icons etc. The different themes on the app look like this -

Put together, mobile banking offers you a great virtual banking experience, and helps you save precious time and energy.

Do I pay for Mobile banking services?

Mobile banking services are generally provided free of cost to the customers. While the app itself does not cost you anything, your respective telecom partners may charge you for the data services. However, there are attractive low monthly plans to choose from with your telecom mobile service providers in order to experience seamless online access through your mobile. SMS alerts on your mobile may also be chargeable.

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