Mobile banking makes it easy to manage your money anytime, anywhere. With just a few taps on your phone, you can check your balance, move money, and even deposit checks. 

A 2023 report from Purdue found that about 1 out of 10 people in Indiana use only their smartphones to get online.[1] This means they don’t have internet at home on a computer or tablet, just their phone.

Here, you’ll learn what mobile banking is and how it can help you keep your money safe and easy to reach. 

What Is Mobile Banking?

Mobile banking means using a phone or tablet to do your banking. You download your bank’s mobile app, and log in with your account. Then, you can do many of the same things you’d do at a bank or on a computer.

With mobile banking apps, you can:

  • Check your balance.

  • Pay bills.

  • Move money between accounts.

  • Deposit checks.

  • Get account alerts.

  • Set savings goals.

It’s like having a bank in your pocket.

You might also like: How To Create Strong Passwords for Online and Mobile Banking App 

7 Mobile Banking Benefits To Cash in On

Using mobile banking comes with lots of perks. Here are seven key reasons people love using a mobile banking app.

1. Access Your Bank Accounts Anytime from Anywhere

One of the biggest benefits of mobile banking is being able to check your account from anywhere. 

Whether you're at home, at work, or out running errands, you can:

  • See how much money you have.

  • Look at your recent spending.

  • Transfer money between accounts.

This helps you stay on top of your money without having to visit a branch or ATM.

To gain extra value from your banking experience, explore more money management tools. 

2. Get Account Notifications

You can set up alerts in your mobile banking app. These messages can help you keep track of your money.

For example, you can get a notification when:

  • Your balance drops below a certain number.

  • A bill is due.

  • A large deposit or withdrawal happens.

These alerts can help you catch mistakes or stop fraud early.

You might also like: What Types of Internet Frauds Are Most Common Online? 

3. Deposit Checks with Your Phone

If someone gives you a check, you don’t have to go to the bank to deposit it. With mobile banking, you can take a picture of the front and back of the check and deposit it right from your phone. This can save you time and gas.

Just make sure you keep the check for a few days in case your bank needs it later.

To get started with mobile and direct deposit, open a checking account today. 

4. Set Up Transfers and Payments

You can use your mobile app to move money from one account to another. You can even send money to someone else or pay bills. This can cut down on having to write checks or mail payments.

Many mobile banking apps also facilitate person-to-person payments. So, you can send money to some friends, family, and local merchants without writing checks or visiting ATMs. 

Some people use mobile banking to set up a transfer to split their direct deposit once it hits their account. Part can go into checking and part into savings. That’s a great way to save without thinking about it.

5. Set and Track Savings Goals

Many mobile banking apps let you set savings goals and watch your progress. 

Whether you're saving for a vacation, a car, or just building an emergency fund, you can:

  • Create goal categories.

  • Choose how much you want to save.

  • See how close you are to reaching your goal.

This can make saving feel more real and more fun. To learn how to plan smarter, make use of Centier’s savings resources.

6. Review Spending Habits

Some mobile banking apps break your spending into groups, like food, gas, or shopping. You can see charts or lists that show where your money goes each month. This can help you notice patterns (like if you’re spending too much on takeout or streaming). 

When you know where your money is going, it can make it easier to cut back and stick to a budget.

You might also like: Money Management: How To Create a Budget That Works For You 

7. Save Time and Stay Safe

Mobile banking can help you save time by cutting down on trips to the bank.

It can also help keep your money protected with things like:

  • Passwords and PINs.

  • Face or fingerprint logins.

  • Secure messages.

Generally, mobile banking apps are very safe, but you should still keep your phone locked and never share your passwords.

Recommended: Your Guide to Two-Factor Authentication and Why it Matters 

How To Get More Out of Your Mobile Banking Experience

Mobile banking is easy, but you can get even more out of it if you’re informed. 

Here are a handful of tips to help you use it safely and smartly:

  1. Use strong passwords and don’t share them with anyone.

  2. Turn on alerts to stay updated about your account.

  3. Only use secure Wi-Fi when logging into your bank app.

  4. Update your app often to get the latest features and security tools.

  5. Use Centier’s digital tools to help you track your spending and savings goals.

Mobile banking is great for keeping track of your money, but you still want to review your account often and watch for anything that doesn’t look right.

Mobile banking is growing fast. People love being able to manage their money without going to a bank. Whether it’s checking your balance at the store or depositing a check from your couch, mobile banking fits into your busy life.

Let Centier Help You Start Banking on Mobile Today

If you like the idea of managing your money from your phone, mobile banking can be a great choice. It’s fast and easy, and it can help you stay in control of your spending and savings.

Ready to get started? To take your banking with you wherever you go, open a savings account today. 

Source: 

[1] https://pcrd.purdue.edu/a-closer-look-at-indianas-digital-equity-mobile-only/