Follow Us: Google+
 
Bankrate.com

Mobile Banking
Using phone © Rob Bouwman - Fotolia
checking
Mobile banking basics for beginners

Banking » Mobile Banking Basics

Mobile banking and then some
Next
Slide 5 of 6
Back
Mobile banking and then some

Some better-designed apps are more in tune with the fact you are accessing the service with a mobile phone. For example, if you are in another city, away from your bank, the app can give you suggestions on where to withdraw money from an ATM with no fee by using your bank's partner network.

"You don't even need to know your ZIP code," Bissell says. "That's one of the nice things you can do when you have an app for your bank."

Some bank card apps even give you what's called "location-based services" with advice on hotels or restaurants with the best deals, and even coupons, says IBM's Hissam.

"There's a lot of convenience factors … and can include loyalty points and more," he says.

Applications also are combining mobile banking with near-field communication, or NFC -- a wireless communication technology that uses short-distance radio waves to transmit data -- to allow you to pay for services or products at the point of sale. Google Wallet and MasterCard PayPass are examples of this type of payment capability.

Some mobile banking applications allow you to take pictures of payroll or other checks written out to you and then digitally transfer the amount of the check into your account.


Next
Slide 5 of 6
Back

 

 

 

advertisement

Show Bankrate's community sharing policy
            Connect with us
Compare Checking Rates



advertisement
Most Read
  1. No more Social Security at 62?
  2. What TV homes cost in real life
  3. Bruce Willis' house for sale
  4. 5 frugal ways to expand living space
  5. What it takes to remodel kitchen
  6. Naughty things credit card won't buy
  7. Danny Bonaduce's house for rent
  8. 12 'meanest' cars for the environment
  9. 10 ways to turn off a homebuyer
  10. Top 10 states for foreclosure
Savings Overnight Averages
Product Yield +/- Last week
MMA
0.47% 0.47%
$10K MMA
0.47% 0.47%
MMA jumbo
0.60% 0.60%
Interest checking
0.50% 0.50%
Compare rates:
Don Taylorsavings
Hanging on to Series EE bonds may be more lucrative than redeeming them.
advertisement
A recent NCUA report shows that credit unions have gained members and added assets in the past year.
Partner Center
advertisement

Advertising Disclosure: Bankrate.com is an independent, advertising-supported comparison service. Bankrate may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.