Banks offer an easy-to-use mobile banking platform via apps, mobile web or phone.
Manage your money on the go: check statements, transfer money, pay bills. Keep track of your account with text alerts.
New mobile facilities are being added all the time e.g. many allow you to manage your Standing Orders and Direct Debits, deposit cheques etc.
When you don’t need personal service from branch staff or a call centre, mobile banking can offer a convenient 24/7 solution.
What To Look Out For
Take sensible precautions:
- Don’t give anyone access to your passwords.
Consider using a Password App, which eliminates information if a password is entered incorrectly 3 times.
- Beware of telephone scams and online phishing, such as cloned bank websites and fake bank emails.(Phishing is a fraudulent attempt to access your personal information, such as account details, usernames and passwords. Criminals send bogus emails, letters or texts, which generally appear to be authentic communications from legitimate organisations.)
Never give out account details unless you know whom you’re dealing with. Banks won’t request this information by email, nor will they ever ask for your whole PIN number.
What level of service is provided?
For telephone banking, is there 24/7 access?
Where’s their call centre?
Do they use automated questions?
How easy is it to get personal advice when necessary?