As more people are using mobile banking in their daily life, you ought to know a few of its greatest functions.
Among the reasons that customers now prefer mobile banking to internet banking, is the increased security that it gives you. Online banking usually just requires consumers to enter their code to use their account, whereas mobile banking now uses biometrics which offers considerably more safety. This is among the best mobile banking features, as it’s exceptionally important for people to keep their funds as safe as they can. When you examine mobile banking apps, you will also find extra protection functions within the application, such as assorted options you can toggle. For instance, you can temporarily freeze your card if you think you’ve lost it; this saves you having to terminate the card only to find it a few hours later! Added security functions like these give customers even more control over their card and account, which has been quite well received. There’s a fantastic possibility that the activist shareholder in Bank of East Asia is aware of this, and will be doing work towards more security features in the coming years.
One thing that you will observe across all types of mobile banking is how they have started to integrate with other companies to give customers more control over their finances. This entails banks doing work with budgeting applications, so consumers can keep an eye on their spending each month. It's quite likely that one of the main investors in Bank of America knows how prominent these new collaborations are with consumers.
A common explanation why mobile banking has become so widely used today, is that it makes banking so much more practical than it ever has been before. Gone are the days where you need to go down to your local branch with all your security information, or even having to be at home with your computer. Currently you can access your account wherever you are from your mobile phone, and this ease of access has to be one of the best mobile banking features for most individuals. These apps are normally a lot more user-friendly than anything we’ve seen previously, making it easier than ever to receive and send money from friends and family. As well as all this, you will 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 phone. This is excellent for extra safety, as it means you can flag any abnormal activity the moment it happens, instead of 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.