What Is Mobile Banking and Why Do We Need It

Written by: smm

on: 05/12/2022

Just some years ago you’d have to go to your local bank branch or use an ATM just to pay your utility bills or make a transfer. Today, however, users can tackle any task like that from anywhere, be it the comfort of their own home, a foreign country, during the day, or at night.

Mobile banking is a type of online banking that offers access to accounts and banking transactions via a mobile app you can install on your device. Here are the top advantages:

#1. Independence

Using mobile banking, you can pay for any service instantly, whether it’s your cell phone or Internet bill, fines or taxes, airline tickets, etc. What’s more, you no longer have to wait in line to do that.

#2. 24/7 remote control

Regardless of the time of day, you can check your current balance, and recent transactions, make payments using available templates, learn information regarding all banking services or disable them.

#3. All go-to tools in one place

With mobile banking, you can open new accounts, deposits, and get a loan remotely. You can also provide any additional documents without having to leave your home. Some banks even encourage their clients to open deposits remotely by offering them higher interest rates.

#4. Alternate commission fees

Zero commission fee for services provided is a very rare thing. That being said, it will still be lower than what is charged at the bank branches and far less than what you’d have to pay in the terminals. The size of the commission fees depends on the payment amount.

When choosing the right mobile banking for you, make sure to check whether your device has relevant support for the app.

SharPay Platform is fully responsive on various gadgets powered by Android and iOS. Visit our website at https://sharpay.net and scroll down the page where you can follow the links to download and test SharPay mobile apps. All you need to have is a stable Internet connection!