Mobile banking can be done with a Smartphone by accessing the internet or sometimes by using any normal phone and SMS service. It was hard to go to the bank every time for single reports and to send money to friends or the clients but now anyone can send money or get the report of any transaction right from home. This banking system was used for the first time by European banks in 1999 and then this banking system was known to the entire world. Now in some less developed country you can enjoy this cool system too.
Is mobile banking safe? Many people have this question in their mind and they do not go for mobile banking. Well, to know the answer of this question you must know first, what mobile banking system is, and what kind of features do this system offer.
Some features of mobile banking
- Check your account balance
Bank whenever you want and wherever you are. You have no need to wait for the banks to see opened and wait for hours to reach the bank in a long traffic jam. From your home by using any mobile, you can check the current balance of your bank account. You can check the last transaction too and sometimes transaction by date. If you use the internet then you can check transaction form first to last. SMS service cannot offer everything that the internet can do. Apple’s iPhone and for Google’s Android, some banks made the application too. You can get the application from your bank and then you can install and then do banking from your home or from your office wherever you are.
- Secure and quick money transfer
Transfer money to your clients or friends at anytime from anywhere. There will be no need to write a boring cheque. It is also secured to send money from your mobile phone. There will be some codes for the safety of your account to use before sending the money. After completing all verification, you can send the money, which means sending money by using mobile banking is safe.
- Get notification as you get money in your account
This is the coolest feature of mobile banking. If you keep this service on then you will receive an SMS every time you receive money. Is mobile banking safe for any kind of account? Yes, there is nothing to be afraid of about mobile banking. You can do banking right from your home without worrying about the security of your account.
- Two step verification
The two-step verification ensures the security of your account. By using this feature, you will keep your account safe from any illegal use. If you lose your mobile phone too, there will be no need to worry because the thief or any other person who has your mobile phone will not be able to access your bank account.
Is mobile banking safe if anyone is accessing his or her bank account through the phone internet? Yes, it is safe because you can also enable two step verification option to login to your account by using the internet.