Every month, 115.6 million people log on to their bank via a mobile phone.
Are you one of those people enjoying the benefits of mobile banking? If not, it might be time you sign up!
In this article, we have outlined the major benefits of modern banking. After reading these facts, you will think twice about traditional banking.
1. Easily Access Your Money
It doesn’t matter where you are or what you’re doing, with mobile banking you can very easily log on and see all of your financial records.
This is great if you’re worried about accidentally overspending, need to track recurring payments, or you want to make sure your account has enough money in it before making a purchase.
Better yet, you can set up text alerts to inform you of any suspicious activity on your account which you can then check instantly.
2. Less Risk than Other Online Banking Options
Interestingly, mobile banking is one of the safest ways to access your money, even though it’s right there in your pocket.
Of course, you should still take precautions such as never opening a mobile banking app via an email or text you don’t recognize. Also, you should avoid accessing your app when on a wifi network that you suspect isn’t safe.
Otherwise, even if your phone is stolen, this doesn’t necessarily mean all your money has been too. It’s still worth contacting your bank ASAP!
3. Cancel a Stolen Card with No Stress
If you have your wallet stolen, one of the most irritating issues is canceling all of your cards before the criminal can use them.
With mobile banking, this process becomes extremely easy. All you need to do is open the app linked to the card and freeze the card or cancel it altogether.
Then, after you have reported your stolen wallet to the police, you can use the mobile banking app to request another card.
4. Keep an Eye on Spending Habits
Are you someone who wastes money on retail therapy or likes to forget how much that round of drinks for your friends is costing? You can’t easily hide your head in the sand with mobile banking!
Although this isn’t totally positive, it CAN help you get better at dealing with your personal finances and result in you having a little more cash at the end of the month…
5. Never Walk into Your Bank Again
Mobile banking will save you a lot of time if you’re used to driving to the bank or speaking to a bank employee on the phone.
Although this lack of human contact may be negative in some regards, it will give you time to spend with family and friends instead.
The Benefits of Mobile Banking List Goes On
The benefits of mobile banking will be different for everyone. Perhaps you’ll love mobile banking because it makes paying off your bills easier, or maybe it’ll suit you to make payments to employees from your device.
Need more financial advice? Check out these top ways to save money on a tight budget.