Advantages and Disadvantages of Mobile Banking

Advantages and Disadvantages of Mobile Banking

Mobile banking is the performing of finance related functions on a mobile device like a Smartphone or tablet. With the use of a mobile device, the user can perform mobile banking via call, text, website, or app.

There are both advantages and disadvantages of mobile banking some of which have been highlighted below.


  • It utilizes the mobile connectivity of telecom operators and therefore does not require an internet connection.
  • With mobile banking, users of mobile phones can perform several financial functions conveniently and securely from their mobile.
  • You can check your account balance, review recent transaction, transfer funds, pay bills, locate ATMs, deposit cheques, manage investments, etc.
  • Mobile banking is available round the clock 24/7/365, it is easy and convenient and an ideal choice for accessing financial services for most mobile phone owners in the rural areas.
  • Mobile banking is said to be even more secure than online/internet banking.


  • Mobile banking users are at risk of receiving fake SMS messages and scams.
  • The loss of a person’s mobile device often means that criminals can gain access to your mobile banking PIN and other sensitive information.
  • Modern mobile devices like Smartphone and tablets are better suited for mobile banking than old models of mobile phones and devices.
  • Regular users of mobile banking over time can accumulate significant charges from their banks.

In recent years mobile banking has become quite popular and convenient for many people. Have you tried mobile banking? Share your experience in the comments below. Don’t forget to share this post with your friends and colleagues. Till next time.


photo credit: First Direct via photopin cc

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  • candy

    thanks. :)

  • zarainam

    hy u can tell me how we deal with
    mobile banking

  • zarainam

    how can ideal with mobile banking

  • SriHarsha Inala

    what are the costs involved in mobile banking both to bank qand customer