It is all too common an experience that we have to pay one of our monthly bills and the due date is drawing near. We go to the bank to pay the bill, only to find long queues and realize that you will have to wait in queue for at least an hour before you can pay your bill. But thanks to cell phones, those days are long gone. Technology is supposed to make our lives easier and that is exactly what it is doing with mobile banking. If a subscriber having an account in a bank linked to the subscriber's network provider then he can enroll for mobile banking and enjoy all the benefits linked to mobile banking.

Balance Inquiry:

It is important that every person knows exactly how much money he has in his bank account. It is important because if the exact amount is not known he may have to face some embarrassing circumstances such as rejection or bouncing of his or her cheque. But if we know the exact amount in our bank account we will never exceed that amount while writing cheques. Before mobile banking a simple task such as balance inquiry was almost impossible as it was impractical for a person to stand in a long queue in banks just to inquire about hi balance. But thanks to mobile banking we can find out the exact amount in our bank at any time no matter where we are.

Purchasing:

As in mobile banking we associate our bank account to our cell phone connection, we have complete access to our credit ca
rds. Purchasing via mobile phones is done from specified stores; these stores will also have to be affiliated with mobile banking. Here our mobile number acts as an account number and a password is used for security purposes. Through mobile banking we can also book and purchase airline tickets directly from our mobile phone. By simply sending text messages to the network provider the subscriber can already make a transaction in less than a minute. These messages are forwarded to the bank's system and the transaction will be processed. The subscriber then will receive a message alert confirming that a transaction is successfully processed.

Transfer of Funds:

Through mobile banking one subscriber can transfer his money directly to another subscribers account. By using this service he writes the amount he wants transferred from his account and then writes the recipients account number. The funds are then transferred in real time. Meaning the recipient can immediately receive the money without any waiting. This can be done at any time of the day or on any day even if it is a bank holiday. The bank, of course charges a small fee for this service. But it is worth every penny.

Payment of Bills:

At least three bills have to be paid every month, those being, electricity, telephone and natural gas. This means we have to go to the bank thrice a month and wait in queues to pay our bills. But thanks to mobile banking we don't have to worry about this any more as we can pay our bills at any time directly from our cell phones.