subject: Advantages Of Mobile Banking Over Personal And Internet Banking [print this page] Mobile phones have sensationalized the whole world with their entrancing features. Who doesnt own a phone in this digital era? Al right now that almost every American has a phone connection, what are the things that we can do using the phone apart from talking to our dear ones? Phones offer us endless opportunities to communicate with the world around us. Oops! Have we forgotten something important? Yes of course, its mobile banking. Banking used to be a very tiring activity. However now we have reached a stage where everything is simplified including banking. Phone banking in particular is gaining importance because of the convenience. So lets try and understand the good things involved in phone banking.
To begin with the reach is just amazing. Lets just compare phone banking with internet banking. In case of Internet banking, even if you have a password and the ability to access data from home, connectivity can be a problem when it comes to remote areas. However, it is not so in the case of phone banking because in the developing countries, it is still a problem. In case of phone banking, connectivity is never an issue because even the remotest areas have the convenience of using phone banking. Time factor also needs to be taken into consideration when it comes to phone banking. You can do transactions any time of the day and the best part is that it helps you save a lot of time.
When you do phone banking using your cell phones, its all the more simple and easy because transactions can be recorded and it also has a very simple interface, so all you need to do is just follow the instructions that are given to you. They are usually in the form of voice commands. It is very easy to comprehend. So, there is nothing much that you can ask for. Another thing is that many of the banks offer, mobile banking at a price range that fits your budget. So phone banking never pinches your pocket. Mobile banking eliminates the percentage of fraudulent transactions. The moment someone misuses your bank card, it will be immediately notified to you through Messages. The moment cash is deposited or withdrawn from your account, you will know.
In a way, phone banking has proved to be favorable for the banks as well. They dont have to spend dollars in tele-banking. There is no need to set up a separate team for telemarketing and waste both time and energy. The moment a customer calls the bank they can devote a part of the call conversation for explaining their new products and services. They can educate them on various advantages of their services and sign them up for deals. Mobile banking is a sure way of implementing constructive changes to improve the quality of their customer services. When a customer calls, they will know the status of their products. The best part is that the banks can know a lot about their customers as they are constantly in touch with them.
Its a great opportunity for them to sell the various products that they have with them. As banks sell a lot of products such as credit cards, loans etc. Its an awesome way of advertising and marketing their services. You can access so many services which include Debit alerts, bill payment alerts, transaction history, and many more such activities using your mobile phone. Mobile banking can be used even for transferring funds from one account to another. Its as simple as it sounds. If you are planning to buy a phone service, there are several services such as Xfinity Bundle Deals that help you reduce costs.
