- Allows you to request and receive banking informationfrom your bank on your mobile phone
- You can manage bank accounts, check account balances, perform check requests and pay some bills.
- If you are in a business you can access your account whenever you need to
- it is more convenient because you don't have to go to a bank to complete a banking transaction.
- It's quite discrete, so you can view it when you are doing everyday jobs and you don't have to set aside time to go to the bank.
Disadvantages
- If you don't have the internet on your mobile you can't access what you need on your bank account.
- You could get your phone stolen and it will have all of your details on it, so people can gain access to your account as well as your phone.
- It causes more people to use their mobile phones and can cause radiation.
3 comments:
Mobile banking is becoming more and more prevalent in India thanks to its convenience. Month-on-month transactions carried out through mobile banking are surging both in volume and value terms. The steep increase can be attributed to initiatives taken by banks and mobile service providers to promote mobiles as medium for bill payments and fund transfers. Mobile banking is a key tool to achieve the goal of financial inclusion.
Thanks for sharing this informative blog. it seems very helpful.can you please brief me about sms banking service.
Thank you for sharing such great information. It is informative, can you help me in finding out more detail on SMS Banking , i am interested and would like to know more about this field and wanted to understand the basics of Banking Services.
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