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Mobile banking in finance

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Starmix

Starmix

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Mobile banking in finance is a service provided to us by our bank to allow us to conduct financial transactions remotely using our smartphone or tablet. It will be easier for us to monitor our savings and how much to save in the future. We can access our own bank account and perform various banking tasks such as transferring money, checking account balances, and paying bills. I think majority of the members here already explored this mobile banking. I already started using this mobile banking but my bank doesn't allow me to transfer money to PayPal.
 
In my country using mobile banking is very vulnerable, there are lots of hacks, many customers lose thousands of USD. so to have mobile banking you have to use a special cell phone, also don't save too much money in one bank account.
 
Mobile banking has helped me a lot so many times. I remember during the lockdown when there where no banks opening, what we had to rely on was mobile banking and it really made so many things a lot easier.
 
Suba said:
In my country using mobile banking is very vulnerable, there are lots of hacks, many customers lose thousands of USD. so to have mobile banking you have to use a special cell phone, also don't save too much money in one bank account.
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I am not on this mobile banking. I am afraid. We have the same doubt that our money might disappear due to hacking. I was invited by Union Bank to do Moblie banking but I refused, I prefer the traditional banking.
 
Starmix said:
I am not on this mobile banking. I am afraid. We have the same doubt that our money might disappear due to hacking. I was invited by Union Bank to do Moblie banking but I refused, I prefer the traditional banking.
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But by installing mobile banking we will get many conveniences such as internet payments, purchases and transfers, without having to go to an ATM machine, but we have to use a special cellphone and only use it with internet/private WiFi, and the amount must also be limited or not too much.
 
Suba said:
But by installing mobile banking we will get many conveniences such as internet payments, purchases and transfers, without having to go to an ATM machine, but we have to use a special cellphone and only use it with internet/private WiFi, and the amount must also be limited or not too much.
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Our home is facing the ATM machine hehehe, Tt is just a walking distance 4 minutes walk, however during travel, it is very important to note that we can also check banking updates comfortably.
 
Mobile banking is getting very familiar and there are a lots of peoples who are using mobile banking service in my country, since holding cash money is risky and hard we most of the times use mobile banking and also the government encouraging mobile banking transactions.
 
Kirubel said:
Mobile banking is getting very familiar and there are a lots of peoples who are using mobile banking service in my country, since holding cash money is risky and hard we most of the times use mobile banking and also the government encouraging mobile banking transactions.
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Be careful if you use mobile banking, there are many threats from hackers, either via short messages, WhatsApp, etc. so don't use public wifi, don't open/click messages from people you don't know.
 
Suba said:
Be careful if you use mobile banking, there are many threats from hackers, either via short messages, WhatsApp, etc. so don't use public wifi, don't open/click messages from people you don't know.
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You are so right, since mobile banking started and since everyone starts to use mobile banking system for transaction and payments there are a lots of scammers who are trying t still peoples money everyday, and still many peoples lose their money to scammers and the bank inform and reminds the customers by SMS text message to protect our financial data and pin code from hackers and scammers.
 
Starmix said:
I am not on this mobile banking. I am afraid. We have the same doubt that our money might disappear due to hacking. I was invited by Union Bank to do Moblie banking but I refused, I prefer the traditional banking.
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I understand your fear, but i think its a matter of how you keep your information or who you share these things with that would determine if your details gets hacked or not.
 
eLdavis said:
I understand your fear, but i think its a matter of how you keep your information or who you share these things with that would determine if your details gets hacked or not.
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I never intend to apply banking online. I already have 3 banks for work, business and personal savings. Someday I may try to experience not this time.
 
eLdavis said:
I understand your fear, but i think its a matter of how you keep your information or who you share these things with that would determine if your details gets hacked or not.
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In my country there are many cases of people losing money in mobile banking, mostly with messages on Whatsapp, be it links or images such as wedding invitations, after being downloaded it turns out malware can steal passwords and financial data.
 
Indeed, mobile banking makes a difference. We're just at home transacting. How powerful technology is, making human lives easy and comfy, unlike in the past people have to fall in line in the bank.
 
Starmix said:
Mobile banking in finance is a service provided to us by our bank to allow us to conduct financial transactions remotely using our smartphone or tablet. It will be easier for us to monitor our savings and how much to save in the future. We can access our own bank account and perform various banking tasks such as transferring money, checking account balances, and paying bills. I think majority of the members here already explored this mobile banking. I already started using this mobile banking but my bank doesn't allow me to transfer money to PayPal.
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I have been using mobile banking since 5 years. Money from PayPal comes to my bank account.
 
Every aspect of finance has gone mobile now. When you look at crypto exchanges and e money wallets, they are all mobile first.
 
Many young people are using mobile banking and those who do not use it are often belittled, ridiculed, yet some banks have openly told me that they are not offering internet banking to me.
 
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