Find out about the advantage of mobile banking over its other types

As more individuals are making use of mobile banking in their day-to-day life, it's important to know a few of its greatest functions.


One of the reasons that customers now prefer mobile banking to internet banking, is the larger protection that it provides you with. Online banking normally just requires consumers to enter their code to use their account, whereas mobile banking today uses biometrics which offers even more security. This is one of the best mobile banking features, as it’s incredibly important for people to keep their money as safe as they can. When you explore mobile banking apps, you will also find added security features within the application, which include assorted choices you can toggle. For instance, you can temporarily suspend your card if you think you’ve lost it; this saves you having to cancel the card only to find it a couple of hours later! Added protection features like these give customers far more control over their card and account, which has been pretty well received. There’s a good chance that the activist shareholder in Bank of East Asia is aware of this, and will be working towards more security features down the line.

A common reason why mobile banking has become so widely used today, is that it makes banking a whole lot more practical than it ever has been before. Gone are the days where you need to go down to your nearby branch with all your security information, or even having to be at home with your computer. Now you can access your account wherever you are from your mobile phone, and this ease of access has to be among the best mobile banking features for most people. These apps are usually much more user-friendly than anything we’ve seen in the past, making it easier than ever to receive and send money from friends and relatives. On top of all this, you no longer just get your bank statement through the post at the end of the month, you can retrieve it at any point from your mobile. This is fantastic for extra safety, as it means you can flag any unusual activity as soon as it happens, rather than having to trawl through a whole month of transactions. Those like the investors in Barclays Bank will hopefully be doing work on more amazing features like these.

Something that you can see across all types of mobile banking is how they have started to combine with other businesses to give customers more control over their finances. This includes banking institutions working with budgeting applications, so consumers can keep an eye on their spending each month. It is quite likely that among the main investors in Bank of America knows how popular these new collaborations are with consumers.

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