Online Banking V/s Mobile Banking

Modern way of BankingThe banking sector is progressing with each passing decade. It has come a long way from the traditional and conventional way of conducting the banking transactions. Various options and mediums have been introduced to ease the entire banking experience.

Online banking and Mobile banking are the modern day mediums that are for your rescue to sort out all your banking business with ease especially on a busy day. However there has always been a debate as to which one of the both is a better option. Let us decode both of the mediums for you.

The Basics

Mobile Banking: It is a banking feature conducted on your mobile phone using the inbuilt features of your phone. As conducted on your mobile demands for a wireless internet connection

Online Banking: Online banking gives you the feasibility to conduct various banking activities to any gadget giving you a decent internet connection. You can conduct online money transfer; pay your bills and much more

The Advantage

Mobile Banking: The bank sends you small mini statements on your mobile through short messaging services every time you debit or credit cash from your account. This helps you to keep a better control on your finances

Online Banking: The biggest boon that online banking comes with is the fact that you can perform you’re banking tasks even on a holiday or if you don’t have the time to walk till the bank

The Disadvantage Mobile Banking: There is always a fear of receiving a scam

message. Also if by any chance if you happen to lose your mobile, somebody can gets an easy access to your personal banking details

Online Banking: The only drawback this medium comes with is that it does not allow the direct usage of your money; one has to eventually find an ATM to withdraw the cash necessary

Thank You