What Are The Major Functions Of Mobile Banking Services?

Mobile banking services have made it easy and convenient for everyone to access banking activities using mobile phones. We do not need to visit banks and other financial institutions; we can access all banking activities from the comfort of our homes. All thanks to modern technology, our banking system is becoming more advanced and innovative. Now we do not need to waste hours and wait in long queues to check our bank account balance. It just needs a few clicks, and we can get our bank account balance and related details over our mobile screen.

Mobile banking apps offer an instant bank account open facility. Today we all are aware of mobile banking services. But still, a lot of people are unaware of the various functions and services of mobile banking. So, the following are the major functions and services of mobile banking:

Provides account information –

Mobile banking services allow users to check their bank account information using a mobile phone anytime, anywhere. You can check the below-mentioned information regarding your bank account using mobile banking services;

  • Users can get mini statements of their bank account and transactions. You can check your bank account statement anytime without visiting the bank.
  • Users can get बैलन्स इंक्वायरी on the app itself.
  • Mobile banking services allow users to track and monitor their deposits anytime.
  • You can also get access to your loan statements and check how many monthly installments you have paid and are pending. 
  • You can also get access to your card statements. If you use your credit or debit card to make payments, then you can check the current status of your card using mobile banking services. 
  • You can also check your investment status if you are investing in stocks or mutual funds.
  • Mobile banking services also provide information regarding your insurance policies. 

Allows users to make transactions –

Mobile banking services also allow their users to make multiple transactions which are as follows:

  • You can receive and transfer money to other accounts. 
  • You can also pay third parties for credit card bills, electricity or water bill, Fastag recharge, online shopping, etc.

Provides multiple investment options to the customers –

Mobile banking services also provide multiple investment options to users. You can avail of portfolio management services and invest in real-time stocks using mobile banking apps. 

Provides customer support services –

Mobile banking services also provide customer support 24/7. Users can use helpline numbers or support mail to ask their queries. You can also request customer support for the following services:

  • You can mail your request for a credit card, mortgage approval, and insurance coverage.
  • Request for issuing checkbook or passbook.
  • You can also submit your complaint and get your bank account-related problems resolved.
  • Make a call to the helpline number and know your ATM location.

Provides content services –

Mobile banking services also provide informational content for users unaware of the various services and functions. You can go through the content and understand everything before conducting any banking activity on your mobile phone. 

So, these are the various functions of mobile banking services.