Wednesday, 20 July 2016

When your bank is inside your mobile phone

Banking becomes more interactive and simple with mobile banking apps that are extremely easy and safe to use.
The proliferation of Internet-enabled smartphones in our lives is such that every person using a mobile phone today opts for a smartphone only. Gone are the days of chunky handsets that offered only a few basic telephony services. Today, the Internet-enabled smartphone is one’s window to the world – right from using the phone for business to watching a late night movie before bed, the smartphone is one’s constant companion all day.
Since users like to perform all their work and leisure tasks on their mobile phones, it is obvious that they also like to manage their personal finances using their smartphones. To this end, banks have encouraged the use of mobile phones in daily banking with a host of mobile banking apps that are interactive and simple to use. Simply downloading your bank’s mobile banking app opens up a veritable doorway to a quick and safe daily banking experience.
Whatever you bank for, with an actual visit to the bank branch or over your laptop screen, you can do so with the mobile banking app – maybe even better! Banks in the UAE incentivise the use of mobile banking apps with discounts, points and other rewards for using the app. Besides this, customers get access to such excellent features as:
·         Free, unlimited use of the app.
·         Open a savings bank account instantly using your mobile phone.
·         Check transaction history and account balance.
·         Review and pay your utility bills in seconds.
·         Self-register for the bank’s services and offers using your mobile phone.
·         Review and redeem your reward points instantly.
·         Set payment instructions for utility and credit card bills.
·         Create fixed/recurring deposit account, register for credit cards and other services.
·         Get access to the bank’s relationship manager instantly.
·         Get forex when travelling, etc.
Mobile banking apps created by premier UAE banks are completely safe to use and do not pose any threat to the customer. However, one must follow the usual safety protocols while using these apps:
·         Do not reveal your user details to anyone.
·         Always log out or ‘crash’ your last used apps before returning to the Home screen – this helps in case your phone is stolen. A thief would be able to access an open app easily.
·         Download device-specific apps only, viz. Android apps for Android phones and iOS-specific apps for iPhones. This is because there are specific softwares designed for these devices which work best only on those operating systems.

·         Install a reliable anti-virus software that nabs any malware from threatening your security.