Just How Safe Is Mobile Banking?
Word is out that mobile banking may soon become the new black. Account balance and recent transaction inquiries, and fund transfers may be the most common mobile banking transactions nowadays, but with the development of better and more advanced phone banking applications, it certainly won’t be long before you’re using your phone more than your local branch for banking matters.
If you think about it, it’s not surprising at all that more people would be encouraged to take up mobile banking. It is after all, the ultimate in banking convenience. Even when you’re on a road trip or having fun under the sun in the Caribbean, a forgotten payment due date or an account running low on funds isn’t that much of a problem as payments and transfer are just a few cell phone keys away. But once you’ve established how convenient and time-saving the technology is, you’d most likely ask yourself, “How safe is mobile banking?”