Technology has evolved so much, even to the point where we can do nearly everything with our smartphones. This is what brings us to the discussion of mobile banking, which has become nothing short of useful in this day and age. However, there are certain things that you should know about this process ahead of time. If you'd like to learn more, you can start with these mobile banking pros and cons, courtesy of Bob Jain.
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 - You won't be interacting with an actual person. One of the biggest perks of traditional banking, whether you're simply depositing a check or what have you, is that you get to interact with someone. This level of face-to-face interaction matters for many customers, and it's unfortunate that it's lost from mobile banking. Granted, this con will vary from person to person, depending on how much stock they put into face-to-face interaction. Nonetheless, it's a valid point that the likes of Bobby Jain Credit Suisse can bring up.
PRO - You won't have to worry about security. One of the biggest concerns that people have, especially when it comes to finance, is security. No one wants to feel as though their accounts are at risk of becoming hacked. This is why it's worth noting the security built into mobile banking apps. Regardless of what you've logged into your app for, companies like Bob Jain Credit will tell you that every piece of information will be safe.
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 - You won't be interacting with an actual person. One of the biggest perks of traditional banking, whether you're simply depositing a check or what have you, is that you get to interact with someone. This level of face-to-face interaction matters for many customers, and it's unfortunate that it's lost from mobile banking. Granted, this con will vary from person to person, depending on how much stock they put into face-to-face interaction. Nonetheless, it's a valid point that the likes of Bobby Jain Credit Suisse can bring up.
PRO - You won't have to worry about security. One of the biggest concerns that people have, especially when it comes to finance, is security. No one wants to feel as though their accounts are at risk of becoming hacked. This is why it's worth noting the security built into mobile banking apps. Regardless of what you've logged into your app for, companies like Bob Jain Credit will tell you that every piece of information will be safe.
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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