Financial Banking Information

In today world Mobile Banking is a popular term. Mobile Banking means a financial transaction conducted by logging on to a bank’s website using a cell phone, such as viewing account balances, making transfers between accounts, or paying bills. It is a term used for performing balance checks, account transactions, payments etc. via a mobile device such as a mobile phone. In recent time Mobile banking is most often performed via SMS or the Mobile Internet but can also use special programs called clients downloaded to the mobile device.

Mobile Banking concept
In general term we can categorized the mobile banking below -
* Mobile Accounting
* Mobile Brokerage
* Mobile Financial Information Services

Most services in the categories designated Accounting and Brokerage are transaction-based. The non-transaction-based services of an informational nature are however essential for conducting transactions – for instance, balance inquiries might be needed before committing a money remittance.

Mobile Banking Services

Mobile banking can offer services such as the following:
* Mini-statements and checking of account history
* Alerts on account activity or passing of set thresholds
* Monitoring of term deposits
* Access to loan statements
* Access to card statements
* Mutual funds / equity statements
* Insurance policy management
* Pension plan management
* Status on cheque, stop payment on cheque
* Ordering check books
* Balance checking in the account
* Recent transactions
* Due date of payment (functionality for stop, change and deleting of payments)
* PIN provision, Change of PIN and reminder over the Internet
* Blocking of (lost, stolen) cards
* Domestic and international fund transfers
* Micro-payment handling
* Mobile recharging
* Commercial payment processing
* Bill payment processing
* Peer to Peer payments
* Withdrawal at banking agent
* Deposit at banking agent

Mobile Banking – Any time Anywhere Banking

http://home24x7.blogspot.com
http://gift24x7.blogspot.com
http://mobiletoday.co.in
http://1001dollarstip.blogspot.com
http://informations24x7.blogspot.com
http://khel24x7.blogspot.com
http://24x7entertainments.blogspot.com
http://24x7technology.blogspot.com

Article Source:http://www.articlesbase.com/banking-articles/mobile-banking-definition-and-advantages-1163722.html

Related articles by Zemanta

• Deposit checks using the iPhone’s camera (everyjoe.com)
• Banks Could Be Doing a Better Job on Facebook (insidefacebook.com)
• How To Guard Your Identity From Being Stolen [Identity Theft] (consumerist.com)
• Consumers Want Person-to-Person Payments Services from Banks According to CashEdge Consumer Survey (prweb.com)
• Need to Make a Deposit? iPhone has an App for That (singularityhub.com)
• Problem Bank List Hits 15-Year High (huffingtonpost.com)
• More U.S. Banks on the Brink: FDIC (abcnews.go.com)
• Talking Business: It’s Time to Admit That Money Funds Involve Risk (nytimes.com)

Share this:

Read also:

• GLOBAL CHALLENGES IN BANKING
• Disadvantages of bankruptcy
• Opportunities in Brazil Banking Sector Research by MarketsMonitor.com
• How to Get Your Bank to Pay You
• Best and Largest African Banks
• Blair Rewards Complaints From The Public, A Campaign Or Scam, Tony, Tony Where Are We Today

August 27th, 2009 | Category: Financial Banking | Comments Off
You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.