What is Mobile Banking System
Most banks offer an online bill payment service that lets you pay bills electronically using a secure online account. You then designate the amounts and dates that you want to pay utility bills, credit card payments, loan payments, appointment fees and more. Following are five benefits of using an online bill payment service.
Mobile Banking Features
Mobile banking can be used for many of the same tasks that you would complete at a bank branch or on your home desktop computer. These include checking account balances, transferring money from one account to another, finding an ATM, setting up alerts (for example, to notify you if an account balance has hit a certain amount), or viewing account statements.
In addition to these basic features, mobile banking services may include direct deposit of checks using your device’s camera, paying bills, sending money to another person, transferring credit card balances, or even conducting investment transactions.
Mobile Banking Is Convenient
Being able to do most, if not all, of your banking on the go is one of the biggest benefits of mobile banking. No matter where you are, you can “take care of business” without interrupting the rest of your life. Bank branches aren’t going away any time soon, but being able to handle your financial life without having to drive to a branch during open hours can be a real time- and schedule-saver.
Mobile Banking Keeps You in Control
Because it’s so easy and so convenient, mobile banking helps keep you in control of your finances. You can monitor your balances and always know where you’re at financially. With account alerts, you can know if your account falls below a certain threshold and instantly transfer money into that account and avoid overdraft fees. You can deposit checks instantly, which is a big help when you need the cash. You can get reminders when to pay bills so you never have to pay a late fee. You can even set up recurring bill payments so you don’t even have to think about when a bill is due. All these features leave you in control of your money on your time.
Mobile Banking Is Secure
Mobile banking is as secure. All reputable financial institution use encryption that safeguards and protects your privacy, identity and your financial information. Some institutions even offer a security guarantee to make your use of mobile banking truly worry-free.
