Anyone who knows technology can tell you about the growth it has enjoyed over the course of time. Mobile banking is just one of the byproducts of said growth, but it has become quite useful for many people. Bob Jain and other finance experts will agree, but there are a couple of things that you should know about mobile banking before getting involved. The following pros & cons will give you a better understanding of what you can expect from it.
PRO - Mobile banking is nothing short of simple. One of the big perks of mobile banking is its ease of use. As a matter of fact, even if you're not the most tech-savvy person, you'll get the hang of it in no time. Before long, you'll be depositing checks with your phone's camera and checking your accounts with no problems at all. With an ever-growing focus on simplicity in technology, mobile banking is not left out of the equation.
CON - Interaction with actual people is cut out. Those who go about mobile banking on a regular basis care little if there isn't an actual person on the other end. However, if you're someone who likes interacting with people, it's easy to see that something is missing. When you're being helped by an actual person, you feel more confident about your bank account. Bobby Jain Credit Suisse will tell you that face-to-face interaction goes a long way.
PRO - Mobile banking is secure. What's one of the biggest concerns that people have with banking? Security is one of the answers that will be repeated the most, which makes sense. After all, no one wants to feel like the information they input will be at risk. Fortunately, mobile banking apps are designed to be secure, as companies such as Bob Jain Credit will attest. In short, the risk associated with mobile banking is low.
CON - There aren't as many features. Compared to online banking, for example, mobile banking doesn't have as many features. Yes, you can still look at your accounts and deposit checks, but this doesn't mean that it will have everything you need. This is why you might not be able to rely on mobile banking alone. However, as time goes on and technology becomes even greater, chances are that more features will be added.
PRO - Mobile banking is nothing short of simple. One of the big perks of mobile banking is its ease of use. As a matter of fact, even if you're not the most tech-savvy person, you'll get the hang of it in no time. Before long, you'll be depositing checks with your phone's camera and checking your accounts with no problems at all. With an ever-growing focus on simplicity in technology, mobile banking is not left out of the equation.
CON - Interaction with actual people is cut out. Those who go about mobile banking on a regular basis care little if there isn't an actual person on the other end. However, if you're someone who likes interacting with people, it's easy to see that something is missing. When you're being helped by an actual person, you feel more confident about your bank account. Bobby Jain Credit Suisse will tell you that face-to-face interaction goes a long way.
PRO - Mobile banking is secure. What's one of the biggest concerns that people have with banking? Security is one of the answers that will be repeated the most, which makes sense. After all, no one wants to feel like the information they input will be at risk. Fortunately, mobile banking apps are designed to be secure, as companies such as Bob Jain Credit will attest. In short, the risk associated with mobile banking is low.
CON - There aren't as many features. Compared to online banking, for example, mobile banking doesn't have as many features. Yes, you can still look at your accounts and deposit checks, but this doesn't mean that it will have everything you need. This is why you might not be able to rely on mobile banking alone. However, as time goes on and technology becomes even greater, chances are that more features will be added.
