Get organized with mobilie banking

Grand Rapids, Mich. (WOTV) - Mobile banking is arguably the greatest thing since online banking, and it’s no wonder. With advancements in smartphone technology, as well as the invention of tablets, it was only a matter of time before our cellular phones offered us the same services computers do, albeit on a smaller scale.

Visiting your local credit union is always wonderful, but what if you don’t have the time or it’s 2:00 a.m.? With mobile banking, you have the ability to handle all your financial needs at any time, in any location you might find yourself (cellular phone reception provided). This makes banking as easy as making a phone call.
But just in case you’re still hesitant about jumping on board, the following is a primer covering frequent questions and concerns. Once you have the information you need, it’s time to get your money’s worth out of your phone.

Cost
Mobile banking is free at most U.S. banks and credit unions. The only bills you need to worry about are those that come along with your phone plan. Depending on your carrier and your contract, there are different fees associated with accessing the internet via phone. However, these costs are usually minimal and are already included in your monthly plan. In the rare cases that financial institutions charge for mobile banking, the fees are usually quite manageable.

Accessibility
Your credit union or bank will offer detailed instructions on how mobile banking works for you and how you can begin using it. For people looking for hands-on help, there is also the option to visit a branch and have an employee walk you through using mobile banking. This way you’ll be on your way toward banking via smartphone in no time. And you won’t be alone. A survey from the American Bankers Association shows that six percent of all customers prefer mobile banking to traditional banking, while among 18- to 34-year olds, 15 percent rated mobile banking the highest. As far as what you can do with mobile banking, most services include payments, deposits, withdrawals, transfers, statements, account history and much more. While there will still be certain issues it’s best to handle in person, for the most part, mobile banking allows you to handle your everyday financial needs.

Safety
One of the most common concerns regarding mobile banking is how safe it is. People are understandably anxious when it comes to protecting their financial data, especially when it’s on a device as small and easily lost as a phone. The good news is financial institutions are aware of this fear and have done everything they can to make sure mobile banking is as safe and easy as possible. First of all, any data exchanged between your phone and your bank is heavily encrypted. Secondly, your account data is protected by passwords and identity checks. Finally, cellular devices are much less vulnerable to malware, spyware and viruses. Mobile banking is just as safe as banking on your computer, if not more so. Besides, if worse comes to worse and your phone is stolen, you can always have your service provider discontinue service.

For more information on setting up mobile banking with your credit union check out First Community Federal Credit Union's website .

All topics for informational purposes only and are not intended to provide legal advisement.