Bob Jain, not to mention other authorities in the world of finance, will tell you that technology is vital to our lives. It has evolved so much and if you need any evidence of this, look no further than the process known as mobile banking. It has become quite handy for us, but there are other facets that tend to go overlooked. If you'd like to know what some of the pros & cons of mobile banking are, it's recommended that you read on.
PRO - Mobile banking is easy to use. Whether you're a tech-savvy individual or someone who doesn't know the first thing about a smartphone, mobile banking is easy enough for anyone to use. When you load up your bank's app, you will be able to find everything you need with ease. You can look at your account balance, deposit a check via your phone's camera, or what have you. This ease of use is one of the greatest benefits that mobile banking has to offer.
CON - Interaction with actual people is cut out. Those who go about mobile banking on a regular basis care little if there isn't an actual person on the other end. However, if you're someone who likes interacting with people, it's easy to see that something is missing. When you're being helped by an actual person, you feel more confident about your bank account. Bobby Jain Credit Suisse will tell you that face-to-face interaction goes a long way.
PRO - Mobile banking is secure. What's one of the biggest concerns that people have with banking? Security is one of the answers that will be repeated the most, which makes sense. After all, no one wants to feel like the information they input will be at risk. Fortunately, mobile banking apps are designed to be secure, as companies such as Bob Jain Credit will attest. In short, the risk associated with mobile banking is low.
CON - Mobile banking doesn't have as many features. Compared to traditional and online banking, it seems like mobile banking doesn't have as many features to its name. This is understandable seeing as how technology isn't quite there yet. It's also worth noting that more features will be added in due time. If there's a specific feature you need, though, you'd be wise to take your business to a traditional bank instead.
PRO - Mobile banking is easy to use. Whether you're a tech-savvy individual or someone who doesn't know the first thing about a smartphone, mobile banking is easy enough for anyone to use. When you load up your bank's app, you will be able to find everything you need with ease. You can look at your account balance, deposit a check via your phone's camera, or what have you. This ease of use is one of the greatest benefits that mobile banking has to offer.
CON - Interaction with actual people is cut out. Those who go about mobile banking on a regular basis care little if there isn't an actual person on the other end. However, if you're someone who likes interacting with people, it's easy to see that something is missing. When you're being helped by an actual person, you feel more confident about your bank account. Bobby Jain Credit Suisse will tell you that face-to-face interaction goes a long way.
PRO - Mobile banking is secure. What's one of the biggest concerns that people have with banking? Security is one of the answers that will be repeated the most, which makes sense. After all, no one wants to feel like the information they input will be at risk. Fortunately, mobile banking apps are designed to be secure, as companies such as Bob Jain Credit will attest. In short, the risk associated with mobile banking is low.
CON - Mobile banking doesn't have as many features. Compared to traditional and online banking, it seems like mobile banking doesn't have as many features to its name. This is understandable seeing as how technology isn't quite there yet. It's also worth noting that more features will be added in due time. If there's a specific feature you need, though, you'd be wise to take your business to a traditional bank instead.
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