Bank from a Mobile Phone
Want an even more convenient way to manage your money on the go? Look no further than your smartphone. According to a Billing Household Survey by Fiserv Inc., more than 6 million people paid bills using smartphones between May 2010 and May 2011 [source: Rapport]. Smartphones allow users to access funds and account balances anywhere, any time of day, as long as the phone has Internet coverage and a Web browser or app for your bank.
Do you often wonder if you have enough cash in your account to pick up the check at dinner? Banks like Citibank allow users to check their account balance remotely by sending a simple text message [source: Kats]. Your bank can then notify you if your balance is dangerously low or if fraudulent activity is detected -- helping you stay connected and informed about your finances 24 hours a day.
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- Burt, Erin. "Why You Need Multiple Savings Accounts." Kiplinger. Aug. 27, 2009. (Dec. 8, 2011)http://www.kiplinger.com/columns/starting/archive/st0826.htm
- CNN Money. "Tracking spending and expenses." (Dec. 9, 2011) http://money.cnn.com/magazines/moneymag/money101/lesson2/index3.htm
- Kats, Rimma. "Citibank aims for convenience with new SMS banking service." Mobile Commerce Daily. June 23, 2010. (Dec. 8, 2011) http://www.mobilecommercedaily.com/2010/06/23/citibank-enhances-mobile-banking-services-with-sms
- Komando, Kim. "Tech Tips." USA Today. Oct. 21, 2011. (Dec. 8, 2011) http://www.usatoday.com/tech/columnist/kimkomando/story/2011-10-21/komando-track-personal-expenses/50841528/1
- Fidelity Bank. "Remote Deposit." (Dec. 7, 2011). https://www.lionbank.com/banking/business/remote-deposit
- Pisani, Joseph. "Coming Soon: Take Photo Of Check, Deposit It in Bank." CNBC. March 18, 2010. (Dec. 8, 2011) http://www.cnbc.com/id/35911747/Coming_Soon_Take_Photo_Of_Check_Deposit_It_in_Bank
- Schwartz, Nelson D. "Online Banking Keeps Customers on Hook for Fees." The New York Times. Oct. 15, 2011. (Dec. 8, 2011) http://www.nytimes.com/2011/10/16/business/online-banking-keeps-customers-on-hook-for-fees.html?_r=1&adxnnl=1&pagewanted=all&adxnnlx=1323638892-yrmNSip3UKHwG34ARof37A
- Rapport, Marc. "Fiserv Billing Survey: Mobile Bill Pay Growing, Consumers Move Between Payment Channels." Credit Union Times. Dec. 7, 2011. (Dec. 8, 2011) http://www.cutimes.com/2011/12/07/fiserv-billing-survey-mobile-bill-pay-growing-cons?ref=hp
- Robinson, Tina. "Online Banking Primer: Beyond the Basics." Eurweb. Nov. 16, 2011. (Dec. 8, 2011) http://www.eurweb.com/2011/11/online-banking-primer-beyond-the-basics/
- Yurcan, Bryan. "Rolling Out the Welcome Mat for Online Banking Customers." Bank Systems and Technology. Dec. 5, 2011. (Dec. 8, 2011) http://www.banktech.com/channels/232200684
Is this the payment method of the future? No cash, no credit card, just your smartphone and your finger? Find out how Square works at HowStuffWorks.