While PC-based online banking is
not much older than a high school student, mobile banking is still in
elementary school. With the proliferation of smartphones, however, online
banking’s younger sibling is quickly catching up to the slightly more
established option.
Banking through your PC’s web
browser offers a full menu of services. You can easily and conveniently
schedule payments, transfer funds, add new payees, open new accounts, apply for
loans, view current and past statements, and access information about specific
checks that have been deposited. A PC or Mac allows you to view an extensive
array of details and options, giving you full control of your accounts.
Mobile banking is very popular
internationally. In some parts of the world, traditional banking infrastructure
is not consistently available, and so mobile banking is the primary banking
option. With a few exceptions, mobile banking, typically conducted via mobile
application, offers the same basic features as browser-based online banking. In
particular, mobile banking emphasizes “transactional” features, such as bill
payments, check deposits (where available, this feature allows a customer to
take a picture of a check to be deposited), mobile person-to-person payments,
and balancing checks.
Mobile banking can also offer
additional security by enabling text-backs, which employ a customer’s phone as
a second form of authentication when using either browser-based or mobile
banking.
If you use your smartphone to
access your bank’s website directly, the website may recognize that you are
using a mobile browser and automatically offer you a dedicated application. If
not, search your preferred mobile market or app store to see what your bank
offers. Either way, it’s a good idea to give mobile banking a try. It’s a time-saver
that can often be more secure than traditional online banking.
Robert SicilianoFree Reprint
Articles, personal security expert contributor to Just Ask Gemalto. Disclosures
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