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Is There Really a Difference Between Mobile Banking and Internet Banking?

If you’re looking for a little extra help in keeping track of your finances, then maybe it’s time to consider switching to a new financial service. Mobile banking is now one of the most popular ways to do just that.

The whole idea behind mobile banking is that you can have access to your money wherever you are. With your telephone number, you can open a virtual account at any of the hundreds of banking websites on the internet. Your ATM card is the primary way to access your money, but if you need a transaction it’s easy to pay online, by debit card or with cash.

It all sounds great, but there is one main benefit that many people don’t mention. When you are visiting a bank website, you can get a statement from your local branch. There is no sense in being able to do that with a traditional banking service. Imagine being able to log into your account and see the same information right from your phone.

One thing that makes mobile banking a bit different from the rest of the banking world is the fact that your personal information will be stored on your phone. When you use a debit card, it is only used to withdraw money from the ATM. You won’t be using your ATM card or bank card to withdraw cash from a website, you’ll be using the service provided by your bank, so you might want to consider thinking about mobile banking with this feature.

This is especially important if you have been using the same account for several years and are feeling a little short of cash at the moment. With the service provided by your bank, you will still be able to withdraw cash through your bank ATM or your mobile banking app, but without the hassle of dealing with a computer each time you want to make a withdrawal.

Other than the fact that you will probably be able to make more transactions through your phone with internet banking, the big advantage of a mobile phone-based financial system is that you are never too far away from an ATM. When you’re at home with the kids, you’ll be able to login to your banking account and check your money and debit card balances. On the road with the kids and the gas tank full, you can simply download your bank app and log into your account, all from your phone.

If you’re concerned about security, however, a large bank like Citi can install a cash and security monitoring system in place of the mobile phone software to protect your personal information. While this might be less intrusive than a physical card swipe, it can still be frustrating to keep track of your money when you’re not in the car with your children.

Regardless of what services you are using to keep track of your banking experience, it should provide you with enough convenience to keep you from feeling stressed out when you don’t have access to your bank account. The benefits to mobile banking are endless and the many features available to make it easier than ever to keep up with all of your banking.