10 Things You Need to Know About Mobile Banking

Across the world, wireless technology has revolutionized telecommunications. A mobile phone is no longer a simple device to make calls, rather it has become the hub for all your activities, from e-mailing and browsing to paying bills and transferring money.

Mobile banking allows users to pay for range of products and services through their phone. But one has to be extra careful while using such services, below are some excellent points that should never be neglected.

Here are Ten essential points about mobile banking.

1. Banking on the Move – You can easily access any mobile banking apps and other apps , but make sure you’re near a secure Wi-Fi connection.

2. Official Apps – Nearly every bank in today’s era has their own official mobile banking apps on the Google Playstore. Be it Lloyds, Barclays, HSBC or Natwest, and many more. Generally, these apps has similar features and similar level of security features.

3. Security is Paramount – To protect their customers from malware mobile banking apps have introduced a plethora of stringent security precautions. Some of them ask you to create unique PIN or answer for a security question.

4. Help the Environment – You can stop using paper for every month statements as mobile banking apps gives you the feature of sending your statements on a monthly basis.  You just need to set the app to send a run-through of your monthly statements.

5. Banking with PayPal – These mobile banking apps gives you an instant way of linking to your PayPal and western union accounts to transfer money to all over the world. You can instantly pay for your purchase.

6. Be Extra Wary of Third-Party Apps – Beware of using third-party mobile apps on your smartphone. Any such apps are dangerous for you to use.

7. Checking Permissions – The best way of finding potential dangers with third-party apps is to examine the app’s permission when looking to download them.

8. Google Wallet – Google wallet makes it easier for you to pay for goods. Google’s contactless payment system allows you to pay for your purchase through your phone.

9. Ongoing Payments -You can easily set up a direct debit to a different account, or create a standing order through your Android device. You can edit and remove them through internet banking service, within a branch itself.

10. Beyond your Accounts – Some other features of Mobile banking apps include information about nearest ATM and branch, as well as opening hours, information on new accounts, loans and mortgages. Some include details on key contacts of the bank whom you can contact regarding you account problem.

Keep your money safe when banking on the go!!!!!!!!!