4 Mobile Banking Services You Need To Have

While Internet banking revolutionized the banking industry, mobile banking services have taken the convenience factor a step further. The visits to the banks have diminished to a bare minimum, there is no more queuing up to make a deposit or withdrawal, no more waiting the entire weekend to withdraw cash, and most importantly no more rushing to the bank before it closes for the day.

The banks are now open 24hours a day, 7 days a week, 365 days a year on your cell phone. Thanks to Smartphones and PDA style phones, you can do almost all your banking on you cell phone without having to go to the actual branch. Some of the ‘must-have’ mobile banking services that you should consider as follows:
 
Account Access

Mobile banking allows you to access all your bank accounts at your bank to view account balances, as well as recent transactions that have been posted on your account. You can use these features to ensure that your checks will not bounce, and debit card transaction will not be declined. You can also use this feature to transfer money between your accounts. For example, you may choose to keep most of your funds in an interest bearing checking account and move them via mobile banking to the checking account on a daily basis based on your spending requirements.

Account Alerts

Regardless of whether you use mobile banking for personal use or business use, it is important to have alerts set up on your account. Banks now offer services such as a text message or SMS (Short Message Service) to the designated cell phone whenever there is a transaction made on the account. It does not matter whether it is a debit or a credit. This service is not only important from a fraud prevention and security point of view, but is also keeps you informed on your account balance thus making you aware of your limits and helping to monitor your account for any unauthorized transaction.

Bill Payment Ability

Another interesting feature of mobile banking is bill payments using your cell phone. Using this service, your mobile banking allows you to register parties such as your electric and phone utilities onto your bank account and then make payments to them using from your bank account.

Block Lost or Stolen Cards

If you have a credit card linked to your mobile banking, it is important to that you are able to block it if you have misplaced your card, or if it is stolen. The timely blocking of these cards can help ensure that you are protected from unauthorized use of these cards.