5 Reasons to Use Mobile Banking
Mobile banking makes life simpler and more convenient, allowing you to view your financial picture anytime, anywhere, on the device you carry with you. With these reasons to use mobile banking, why not? Banking apps are getting easier to use, and more financial institutions, including Elevate County Credit Union, are offering them.
If you haven’t yet jumped on the mobile banking bandwagon, here are some benefits to consider that will make your financial life easier.
1. Convenience
Signing in to your mobile banking app anytime makes banking a breeze instead of a chore. Mobile banking transactions can include checking your account balance, transferring funds, paying bills, or making loan payments. You can also use the mobile deposit app to make deposits by snapping quick front-and-back photos of the endorsed checks without worrying about what time of day — or night — it is or where the nearest branch or ATM may be.
2. Productivity
Mobile banking allows you to save time by managing your personal finances between other activities. You can utilize work downtime, lunchtime or even waiting-in-line time. Just be careful to protect your private information from prying eyes.
3. Real-time banking
The ability to monitor finances in real-time is more than a convenience; it can change behavior. For example, a 2015 survey from the Federal Reserve Board finds that most mobile banking users who get low-balance alerts take some action to increase their balances or reduce their spending. And as you adjust to mobile banking, you’ll quickly realize what a good idea it is to check your account balance before making an impulse buy.
4. Cost
Mobile banking is FREE…you can’t beat that! It’s so easy…just download the app, and you are ready to do your banking anywhere, anytime.
5. Security
In a world of hackers and cybercriminals, using mobile and Wi-Fi comes with inherent risks. However, you can protect your financial information by taking a few simple steps. Download your app directly from your financial institution’s secure site or well-known app stores, and only use reputable stores when you download other apps, too. Avoid banking or making purchases over free public Wi-Fi connections, such as coffee shops and hotels, unless you’re confident they are secure. Finally, make sure your mobile device is password-protected, and take precautions not to leave your phone or tablet lying around unlocked.
By 2019, mobile banking is expected to surpass online banking, with more than 1.75 billion users worldwide. Mobile is the future of banking — and by embracing that, you can make your today a little simpler and more convenient.
-Terri Kaufman, NerdWallet
Terri Kaufman, NerdWallet © Copyright 2015 NerdWallet, Inc. All Rights Reserved
We hope these 5 reasons you should use mobile banking have answered your questions. We live in a wonderful world of technology, and it gets easier to use daily. Are you ready to get started using our mobile apps? Find out more here: Mobile Banking
