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Mobile banking is a term that has become increasingly popular over the course of the last decade. So, it is common for banks these days to offer their services – financial and accounting, to their customers over smartphones. In its simplest form, mobile banking refers to a service offered by a bank to its customers that lets them perform and monitor financial transactions through a smartphone or tablet.
Mobile banking is a part of internet banking and contrary to popular belief, they are considered to be the two sides of the same coin. Just like internet banking, mobile banking is available 24 hours a day, 365 days a year and can be used to perform basic functions like utility bills payments, funds transfer, balance checking, setting up spending limits, among others, on a mobile device through the internet.
Whenever you perform a financial transaction, you will receive all the necessary alerts and notifications on your mobile phone to verify that it’s been done by you.
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