Home » Top 5 Advan­tages Of Mobile Bank­ing In 2020

Top 5 Advan­tages Of Mobile Bank­ing In 2020

There are server­al advan­tages of mobile bank­ing in the bank­ing indus­try from easy account access to mon­ey trans­fer, on this post, i will give the very best of them.

Banks have adopt­ed the mobile bank­ing as a means of pro­vid­ing faster finan­cial ser­vices or sup­port to its cus­tomers, and I tell you that it is the best in this mod­ern bank­ing Era.

Mobile bank­ing paved way for faster and con­ve­nient means of bank­ing to bank cus­tomers, and right now in 2020, every bank cus­tomer make use of it.

We talked about the atm being good to the soci­ety but i tell you that it just all about cash with­draw­al, as mobile bank­ing is the eas­i­est and most con­ve­nient way of per­form­ing bank­ing trans­ac­tions.

I don’t see any rea­son why you as a bank cus­tomer isn’t mak­ing use of it cause every bank engages in mobile bank­ing through the use of ussd code or the mobile app.

The very major advan­tage mobile bank­ing have against online bank­ing is that you can bank offline on your phone, be it smart­phone or just a mobile phone.

Before going into the advan­tages of mobile bank­ing, let’s know what is all about.

What is Mobile Bank­ing

Mobile bank­ing is a method or means, through which we per­form bank trans­ac­tions on our mobile phone with­out the need of inter­net or going to the bank.

In Nige­ria, since 2015, banks have adapt­ed to mobile bank­ing and right now in 2020, every bank have its own bank­ing code or mobile app. 

Have you ever thought of trans­fer­ring mon­ey from your account to anoth­er per­son right inside your home, sit­ting on your couch, or check­ing account bal­ance, request­ing for state­ment, atm, cre­at­ing a bank account etc.

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This is what mobile bank­ing is all about, using your phone to enjoy bank­ing ser­vices right inside your house, office, eatery etc at your con­ve­nient.

So let’s look at the advan­tages of mobile bank­ing we have;

Advan­tages Of Mobile Bank­ing

Advantages of mobile banking

 

1. Fastest means of bank­ing

One major advan­tages of mobile bank­ing is that it pro­vides fastest means of bank­ing to bank cus­tomers, for exam­ple mon­ey trans­fer.

When you trans­fer mon­ey from your account to anoth­er per­son, with­in few sec­onds, the receiv­er receives the mon­ey com­pared to when you go to the bank to deposit the mon­ey.

How­ev­er, this can be done through the bank ussd code for mon­ey trans­fer, which does­n’t require inter­net con­nec­tion, or through the bank mobile app.

Both meth­ods are very much con­ve­nient in terms of mon­ey trans­fer. The receiv­er receives the mon­ey with­in a stip­u­lat­ed time frame of five sec­onds to fif­teen min­utes.

When you check your account bal­ance, num­ber or request for a state­ment of account, with­in sec­onds it will be dis­played to you.

Days are gone when you call your account man­ag­er to request for your account num­ber, account bal­ance or state­ment of account. All these are made easy through the use of your bank mobile bank­ing app or ussd code.

2. Most con­ve­nient way of bank­ing

With mobile bank­ing, you can open a bank account, trans­fer mon­ey, check account bal­ance, request for atm, change atm pin, pay bills, buy air­time or inter­net data etc any where any time as it is 247 avali­able to you.

This thus makes mobile bank­ing the most con­ve­nient means of bank­ing in 2020 and rea­son why you should get your­self enrolled to it.

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It pains me a lot to see peo­ple going to the atm for mon­ey trans­fer, whilst they can use their phone and do it right inside their home or any­where with­in few min­utes.

3. Encour­ages Cash­less econ­o­my

One major advan­tages of mobile bank­ing that i love so much is that it encour­ages cash­less econ­o­my in the soci­ety.

Cash­less econ­o­my is being encour­aged in most coun­tries, and by 2022, i’m sure most coun­tries of the world will adopt it. It has a dis­ad­van­tage, but when you look at the advan­tage, you know the cash­less econ­o­my is real­ly good.

Since you can trans­fer mon­ey from your bank account to anoth­er bank account, it makes peo­ple less priv­i­lege to car­ry mon­ey about there­by cre­at­ing cash­less soci­ety in a coun­try.

4. 247 Avali­able (advan­tages of mobile bank­ing)

Mobile bank­ing does not have open­ing or hours as it is 247 avali­able to all bank cus­tomers.

This is what i like about this bank­ing ser­vices, it is always avail­able to use, both in the day or night, week­days or week­ends. Unless your bank is hav­ing net­work issues will make mobile bank­ing not to work.

Dur­ing week­days or week­ends, you can make use of it espe­cial­ly for mon­ey trans­fer, pay util­i­ties bills or pur­chase air­time or inter­net data.

5. Encour­ages peo­ple to open a bank account

Since the intro­duc­tion of mobile bank­ing, there is an increase of peo­ple cre­at­ing or open­ing account espe­cial­ly with the easy and fastest means of bank­ing it offers.

Buy­ing of air­time or data made easy, pay­ing of util­i­ties or rent made easy and also mon­ey trans­fer.

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That’s the num­ber i have on the advan­tages of mobile bank­ing, don’t for­get to share this post thanks.

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