What is Mobile Banking & its Benefits – Ultimate Guide

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Ultimate Guide to mobile banking

The Revolutionary Era of Technology has created many opportunities for human beings to live a smart and easy life. From ordering food by waiting in lines for hours, to having it ordered by just a click, it really has changed. Everything has been changed and we are really having a Hi-Tech Life, where we are enjoying a life that would not have been so easy and comfortable without the internet.

Bank transactions that were made in the past by waiting for so long, and then the processing of payment orders, now are possible with just a click. Here, I will discuss with you how you can do bank transfers, money transactions, and much more just by using your internet and phone. This transaction actually called Mobile banking.

What is Online Banking?

To start with what actually is Online banking, I would start by saying that
Online Banking is a mode with which you can move your funds from one place to another by using the bank details of your relevant bank with the help of the internet.

The Traditional Way

Traditionally, you used to go to the bank, and deposit money there, and then they transfer your money by processing in couples of the days, usually it took more than a week and then your amount was sent to your loved ones.

But Now Thanks to technology that we can do it as quickly as some seconds pass, you can get your cash from one end of the world to the other.

The Method to do transaction with your mobile phones

Here, I will share how to use your phone to make online transactions with your phone, it’s a really simple and secure method that you can use it without any kind of hurdle and difficulty.

Online Banking on mobile

Online banking using your phone, requires that you log in to your bank on any browser, for that purpose you will need these things.

Essential Things to have before Mobile Banking

Where the advancement in the technology has set more risks of getting your accounts information to be exposed to the hackers, there you can have your privacy turned on have essential features installed on your device, so that you can do fearlessly do your transactions.
So here is the list of things that you must have

  • Bank Account credentials
  • Secured Internet connection
  • Secured browser, try using a VPN while using the online banking.

Mobile Apps offered by the banks to perform bank transactions – Mobile Banking

Nowadays banks offer their apps to simply do the transactions, you can do a lot of things by using the apps, just you need to sign up for the online bank services. For that purpose, contact your respective bank in which you have opened your bank account, they will activate the online services for you, and then you can do the surfing online.

What Services the Mobile Banking Offer us?

Literally speaking, you can nowadays do more than enough things with the online baking which includes the things that I will discuss in this section.

Deposits and Withdrawals to any client in the world

Deposits and withdrawals can be done with online apps, all you need to do is these simple steps

  • Register for the online Mobile Banking app
  • Sign in using credentials
  • To withdraw to any other client’s account type in their IBAN(international bank account number)
  • Enter the amount of money
  • Tap send and it is done transferred

Pay off your Bills directly from your account

This is the biggest advantage that you get from your online transactions, that you can pay off your bills directly from your account, without moving an inch from the place, which means that you don’t have to fo to a big line waiting for your turn to come, or forgetting about paying bills and on the last date you have to rush to the nearest bank so that you are not charged more, or losing your electricity. Online & Mobile Banking have made this stuff quite easy and reliable.

Buy online Food credits and grocery credits for your online apps

With online banking or Mobile Banking, it has been made even easier to buy meals or shopping online groceries for your house. You can simply use your credit or debit card, to pay off all the bills for the food meals at any online store of the KFC, McDonald’s, dominos, subway, Pizza hut, or any other services you want to enjoy.

Property taxes and rents can also be accommodated

With this service of Mobile banking you can pay all of your taxes and rents on time in a digital way, if the world is moving fast, the why you don’t be moving. So you definitely be walking hands in hands with the world.

Many more things that can be done with this Mobile Banking

A lot of services are offered by the banks, like paying your tuitions fees, also buying the careem or uber credits, paying your children pocket money, shopping or more than you think can be done with this.

The Potential Risks of doing Mobile banking and transactions

Risks of Mobile banking

Here are the possible risks that may be kept in mind while choosing the digital way to send and receive money from anyone around the world.

A little spooky for those preferring offline mode

The people that are using the traditional way to transfer money to others through offline mode may not be convenient with this type of method, and may have problem with using the apps or digital sites and they may not like it, so may your parents like it or not, for the teen agers and the business community this is one of the best services.

May have hackers attacks if not used with safety

If you’re not using a secured connection or using the public Internet connections, then it is the stupidest thing that you use your online transactions at that time. So you need to have a private connection of your own, and try to use a secured vpn if possible.

And to avoid such phishing attacks try to use Reliable apps introduced by your bank for Mobile Banking.

Final Verdict about This Article

At last, We would say that this method is super convenient and reliable for those people who love the digital tools to expand their business and do the smart work by saving their time and money, simply use this method and you can do thousands of things that were not possible in the past but are now. All transactions on few clicks.

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