Advantages and disadvantages of mobile banking

Mobile banking is a system. Under which financial related work is done through mobile phone. Mobile banking has both advantages and disadvantages.

Benefits of Mobile Banking –

  • With mobile banking, you can operate the bank anywhere, anytime through your mobile phone.
  • You can get information about your bank account.
  • Funds can be transferred from mobile phones.
  • Can recharge mobile or DTH.
  • Through this, you can get information about ATM and bank branch location.
  • With mobile banking, you can check account balance, recent transactions, payment of bills, check status etc.
  • Using mobile banking saves your time.

Disadvantages of mobile banking –

  • To use mobile banking in a mobile phone you will need a multimedia phone.
  • Not all banks have mobile banking facilities.
  • Third party mobile banking software does not always work in mobile phones.
  • In case of loss of mobile phone, you may suffer a huge loss if the user name, password and other information is stolen from your mobile phone.

However, mobile banking is considered much safer than Internet banking and ATMs.


by Abdullah Sam
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