A service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device such as a smartphone or tablet. This includes checking balances, transferring funds, and paying bills on the go.
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Banking
Mobile Banking
Definition
A service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device such as a smartphone or tablet. This includes checking balances, transferring funds, and paying bills on the go.
Example
Instead of visiting an ATM, Maria used her mobile banking app to quickly check her account balance and transfer money from savings to checking while waiting for her coffee.
Key Points
- 1Conducting banking via smartphone or tablet.
- 2Offers convenience and 24/7 access.
- 3Includes features like balance checks, transfers, bill pay.
- 4Requires a secure internet connection.