A mobile bank is an SMS or internet service that allows you to access your account using a mobile phone, smartphone or tablet computer. It enables the user to make payments, receive account information, etc.
Mobile banking features
Often, for transactions through mobile banking, an Internet channel is required, less often transactions are carried out using SMS commands. It can be accessed through SMS notifications, special mobile applications, or using a phone with an installed Internet browser.
Most major banks today have their own mobile banking applications. They are designed for various operating systems - Apple devices, smartphones based on Android and Windows. Such applications are available, for example, in Sberbank, Alfa-Bank, Raiffeisenbank, UniCredit, etc. Mobile banking applications are a kind of functionally cut version of Internet banking.
You can activate the Mobile Banking service at any branch of the bank. Many banks provide the Mobile Banking service free of charge.
Mobile Banking performs many functions similar to remote account management. With the help of mobile banking, you can pay for a mobile phone and other services, make transfers between cards. Also, the user always has the opportunity to receive notifications about receipts and debits from the card, as well as request balance and account statements.
Some banks provide services in mobile banking for repaying a loan using a bank card, blocking it, as well as creating payment templates and auto payments.
Sberbank's mobile bank also allows using SMS commands to buy tickets for Aeroexpress, iTunes gift cards, pay for theater and concert tickets through special sites, and make transfers to the Gift of Life charity foundation.
Advantages and Disadvantages of Mobile Banking
The main advantages of a mobile bank are time savings, as well as the ability to remotely manage a bank account 24 hours a day. This requires only a mobile phone, which almost everyone has.
The main negative aspect of mobile banking is its security vulnerability. For example, mobile banking is subject to the risk of losing confidential information through an Internet browser without anti-virus protection, as well as through unencrypted servers. Finally, if your phone is lost or stolen, it can be used by third parties.
For security reasons, if you lose your mobile phone, you must urgently block the SIM card and the Mobile Bank service.
At the same time, when using mobile banking, the user's account information and account number are not displayed, which provides additional security for the client's data.
