What does mobile banking mean?

Definitions for mobile banking
mo·bile bank·ing

Here are all the possible meanings and translations of the word mobile banking.

Wikipedia

  1. Mobile banking

    Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device such as a smartphone or tablet. Unlike the related internet banking it uses software, usually called an app, provided by the financial institution for the purpose. Mobile banking is usually available on a 24-hour basis. Some financial institutions have restrictions on which accounts may be accessed through mobile banking, as well as a limit on the amount that can be transacted. Mobile banking is dependent on the availability of an internet or data connection to the mobile device. Transactions through mobile banking depend on the features of the mobile banking app provided and typically includes obtaining account balances and lists of latest transactions, electronic bill payments, remote check deposits, P2P payments, and funds transfers between a customer's or another's accounts. Some apps also enable copies of statements to be downloaded and sometimes printed at the customer's premises. Using a mobile banking app increases ease of use, speed, flexibility and also improves security because it integrates with the user built-in mobile device security mechanisms.From the bank's point of view, mobile banking reduces the cost of handling transactions by reducing the need for customers to visit a bank branch for non-cash withdrawal and deposit transactions. Mobile banking does not handle transactions involving cash, and a customer needs to visit an ATM or bank branch for cash withdrawals or deposits. Many apps now have a remote deposit option; using the device's camera to digitally transmit cheques to their financial institution. Mobile banking differs from mobile payments, which involves the use of a mobile device to pay for goods or services either at the point of sale or remotely, analogously to the use of a debit or credit card to effect an EFTPOS payment.

Freebase

  1. Mobile banking

    Mobile banking is a term used to refer to systems that allow customers of a financial institution to conduct a number of financial transactions through a mobile device such as a mobile phone or tablet. Mobile banking differs from mobile payments, which involve the use of a mobile device to pay for goods or services either at the point of sale or remotely, analogously to the use of a debit or credit card to effect an EFTPOS payment. The earliest mobile banking services were offered over SMS, a service known as SMS banking. With the introduction of smart phones with WAP support enabling the use of the mobile web in 1999, the first European banks started to offer mobile banking on this platform to their customers. Mobile banking has until recently most often been performed via SMS or the mobile web. Apple's initial success with iPhone and the rapid growth of phones based on Google's Android have led to increasing use of special client programs, called apps, downloaded to the mobile device. With that said, advancements in web technologies such as HTML5, CSS3 and JavaScript have seen more banks launching mobile web based services to complement native applications.

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Numerology

  1. Chaldean Numerology

    The numerical value of mobile banking in Chaldean Numerology is: 5

  2. Pythagorean Numerology

    The numerical value of mobile banking in Pythagorean Numerology is: 6


Translations for mobile banking

From our Multilingual Translation Dictionary

  • المصرفية عبر الهاتف المحمولArabic
  • بانکداری موبایلPersian
  • les services bancaires mobilesFrench
  • मोबाइल बैंकिंगHindi
  • perbankan selulerIndonesian
  • ಮೊಬೈಲ್ ಬ್ಯಾಂಕಿಂಗ್Kannada
  • 모바일 뱅킹Korean
  • мобильный банкингRussian
  • மொபைல் வங்கிTamil
  • మొబైల్ బ్యాంకింగ్Telugu

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