Mobile Banking

Mobile Based Banking:

 Mobile banking (also known as M-Banking, SMS Banking etc.) is a term used for performing balance checks, account transactions, payments, etc., via a mobile device such as a mobile phone

 Mobile banking today is most often performed via SMS or the Mobile Internet but can also use special programs called clients downloaded to the mobile device

Available Mobile Based Banking:

 Balance checking in the account
 Recent transactions
 Alerts on account activity
 Access to loan statements
 Access to card statements
 Due date of payment alerts

Upcoming Mobile Based Banking:
 Fund transfers
 Mobile recharging
 Withdrawal at banking agent
 Deposit at banking agent

Future of Mobile Based Banking:

 With introduction of full fledged Mobile based banking customers will be able to deposit and withdraw funds at banking agents, i.e., retail and postal outlets that turn cash into electronic funds and vice versa
 Bangladesh Bank has already allowed a few banks and mobile operators to initiate mobile based fund transfer services in the country
 Mobile operators collaborating with banking industry are eying a major change in the remittance payment procedure in the country in the coming years