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mobile banking Tag

News, tips & advice from FastSMS

Mobile banking will be a hot topic for the next few years. Already most banks make it possible to check balances and transfer money between accounts. You can also usually set up direct debits or standing orders and even order foreign currency for collection later.

The big change that is coming is the making of face to face payments using your phone rather than a card and some schemes are already on trial. However there are still a lot of questions to answer on the subject of security and full mobile banking won’t be achieved until they are resolved.

Around the world bank branches are disappearing. Just yesterday I received an email from Business Intelligence (BI) predicting the doom of US bank branches and cash machines. Their data is based on US economic and survey data, but others have done similar research in the UK and the world. And they all agree: the days of the local branch bank office are soon to be over.


If there's one industry that's often assumed to be cold and impersonal, it's the financial industry. It's all about numbers and money, not about the people who have accounts, or need help with enquiries. The reputation may or may not be deserved, but there is a way to combat it: by making customers, investors, or clients feel like you care.


A study by the British Bankers Association revealed that mobile banking in the UK finally caught on. Mobile users doubled their transactions using apps and banking websites. But they also took advantage of bank's text messaging services.