Mobile banking

Mobile banking

1. similar to internet banking

2. provides a fast and convenient way of performing banking transactions

3. must have mobile phone

   • have features required by the bank that provides this service

4. need to register account for mobile banking

   • able to do transactions from anywhere when there have network coverage

5. users should practise precaution

   • not leaving mobile phones that is linked to their account unattended
   • keeping their PIN confidential
   • not reply any SMS claiming to be from their bank

6. major banks collaborated with 2 major mobile network operators

   • offered a new mobile banking and payment services (MyMobile)
     • ability to support fund transfers using mobile phone no.
     • accesssible through all types of phones
     • fund transfer, bill payments, mobile prepaid reload