How to Use Mobile Banking to Manage Your Finances

Gone are the days of standing in long lines or rushing through traffic to beat bank closing times. With just a few taps of a screen, you can access your checking account from anywhere using mobile banking.

Let’s look at some of the most common mobile banking features, as well as some simple tips you can try for using mobile banking to manage your money more efficiently.

What is mobile banking?

Mobile banking apps make it faster and easier to manage your checking account or savings account. Instead of visiting a bank branch in person, you can use your cell phone to complete a wide variety of banking tasks.

Is mobile banking safe?

If you’re used to visiting the bank in person, you might feel concerned about putting your information at risk. Most banks take data security very seriously. They may use features like 128-bit data encryption or multi-factor authentication to help protect your personal information from fraudsters.

Choosing a strong password and keeping it private may also help you safeguard your account.

Mobile banking basics

Mobile banking features can vary depending on the bank, but you may be able to use your app to:

• View your checking account balance
• Transfer money between bank accounts
• Send a wire transfer or peer-to-peer payment
• Deposit money using a mobile check deposit
• Lock a lost or stolen debit card and order a new one
• Access built-in features for budgeting or saving
• Set up automatic bill pay

If you need help, you can also use your mobile banking app to access customer service from a real-life banking representative.

How to use mobile banking to manage your finances

Many mobile banking apps are user-friendly and easy to use, so getting started is usually straightforward.

To start, simply download your bank’s official app. If you’re not sure which app is the correct one, check the bank’s website for a direct download link. You could also try asking a teller to assist you.

Next, you’ll need to log in. If you aren’t already using your bank’s online portal, you may need to create a username and password first.

Once you’re in, you’ll be able to see that app’s home screen, which usually shows your checking account balance and any linked accounts. From there, you can explore the app’s menu to see all of the available features.

Making the most of mobile banking

Unlike traditional banking branches, mobile banking doesn’t close at 5 p.m. As long as you have an internet connection, you can check your account balance and pending transactions from anywhere, anytime. Accessing your app frequently can help you make a more informed decision about every purchase – even if you’re already at the store.

Some mobile banking apps also offer features that help you keep track of your recent spending, savings goals and even your credit score, too. In this way, mobile banking can keep your financial future top of mind and help you stay focused on your personal finance goals.

Finally, most mobile banking apps allow you to sign up for text and push notifications for deposits, withdrawals, low balances and more. These notifications make it even easier to stay aware of your account balance and could even help you identify fraudulent transactions faster.

Disclaimer: Article content is intended for information only. It may not reflect the publisher nor employees’ views. Consult a financial professional before making financial decisions. Publishers or platforms may be compensated for access to third party websites.

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