Mobile Banking gets a New Lease of Life
The banking
sector is surely moving from its conventional ways of banking to some of the
innovative ways of doing the same. Some time back online banking in India was a
completely alien concept. People were sceptical about it with respect to the
safety factor it involved.
But with
changing times online banking has become a part and parcel of the entire
banking task. And now it is time to revolutionise the mobile banking in India. Let us put some light on this thought.
How to apply for Mobile Banking
In order to
get going with this service, one has to register with their respective bank.
You will have to furnish your mobile number, further wherein you shall receive
a Mobile Personal Identification Number (MPIN). In addition to this one also
receives a seven digit Mobile Money Identity (MMID) number. With these two
numbers you can get started with all your banking task on your mobile.
Mode of Transfer
Once all the
above mentioned procedure is completed, one can start with this feature and use
the many modes of transfer available. You can avail the SMS services or install
the mobile banking application in your phone. However it is advisable to go
with the mode your bank offers you and that which is supported by your phone as
well.
Safety Issues in Mobile Banking
This one
factor with mobile banking is always under debate as to is it a safe way of
conducting your banking chores. Therefore it is always advisable to have a
password in the alphanumeric form and maintain a habit of changing it
constantly. Also huge transactions should be done directly from the bank and
not through the mobile.
With all the
aspects taken care of let us find out some of the benefits this service comes
up with
·
With the
growth is technology mobile banking is surely gaining momentum. Unlike online
or internet banking this feature doesn’t require internet connections, thus
making it a point higher than internet banking. Also one can go with their
banking tasks on the go as it doesn’t demand for a computer or internet
connection.
·
You may not
always be able to make it to the bank with all that work already in your hand;
it is here where the application comes to your rescue. Helping you carry on
with your banking formalities while you at your work.
·
It is always
better to simplify anything especially finance management. With the mobile
banking getting simple and smooth with the latest software and technology one
can really get done with all of their banking needs quickly and with ease.
·
One of the
best part of this feature is that you are constantly updated about the various
activities conducted on your account. Money transfer, withdrawal etc. knowledge
is given to you through SMSs.
· Besides a mobiles usage for various banking tasks it is majorly used to sell banking products like credit card and loans as well.
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