Mobile banking also known as M-banking or SMS banking refers to online banking that occurs via mobile phones rather than personal computers. Mobile banking generally operates across almost all major mobile providers in the U.S. in any of this three ways: SMS messaging, mobile web and mobile banking applications developed for smartphones. It is exactly the method of banking that fits into busy, technologically oriented society.

Mobile text and alert are the earliest mobile banking services offered, this allows user access account information and transfer funds through text message only. Texting language differs for all banks, but the function is typically the same. The interested customer is required to register and verify their phone details with their bank and also preferably set up alerts to notify them about deposit confirmations and negative balances.

Mobile web is another mobile banking option. Comparable to online account access from your personal computer, this offers services such as bill payment, checking balances and account transfers by using a mobile web browser to log into the user’s account.

Mobile banking applications for smartphones is the third mobile banking option. This connects the user to the bank server directly for comprehensive banking functionality without the need to make use of any mobile web browser. These applications can be downloaded either through the bank’s website, or any app market such as iTunes corresponding to your device


  • Offers a Wide Range of Banking Services – There are many banking features in mobile banking ranging from review transactions, transfer funds, pay bills to check account balances via your mobile device. The amount of banking services your cell phone can access depends on your banking institution.
  • Simple to Use – It does not require any form of expertise to set up mobile banking or use. With the present stage of innovations in technology, almost everything you can do inside the bank branch can be done right from your phone. When making transactions on the app within your business, nothing is needed but a few keystrokes to make a payment.
  • Time saving – Instead of finding time out of your busy schedule to walk into a bank, you can check account balances, transfer money and do any other things allowed by the app when you are on the go. With the help of Mobile Banking you can pay your bills, transfer funds, check account balance, review your recent transaction, block your ATM card etc.
  • Convenient – Mobile Banking is available 24/7/365 and is easy and Convenient for many mobile users in the rural areas especially in less advanced countries where the customers have travel few kilometers to his branch. Banking operation can be done at a time and place that is convenient for users, instead of waiting in the long queues.
  • Secure –Even with the daily increase of electronic identity theft, proper safety and security measures are being taken to avoid vulnerability should your device got hacked, stolen or encounter other problems. It is more secure than online banking. MBanking also gives enhanced security with the ability to turn card accounts on or off, SMS transaction notifications and the development of new security based technologies.

There is no doubt that mobile banking is convenient, but users need to be aware of and protect themselves from potential risks to their sensitive data. By allowing the customer to handle basic money management at their own convenience, mobile banking is proving to be extremely attractive to those don’t have the time to go to bank.

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