Phone Banking

Phone Banking /Mobile banking

Mobile banking is a system for the customer to act upon banking transactions on his or her cell phone or other mobile appliance. It is a popular system of banking that fits in well with a busy, technologically oriented lifestyle. It might also be referred to as M-banking or SMS banking.
Through mobile banking customer can easily and securely access balance information, pay bills with optional Bill Pay service, transfer funds, and find nearby ATMs and banking centers.
The amount of banking customers are able to do on their cell phone varies depending on the banking institution customer use. Some banks offer only the option of text alerts, which are messages sent to their cell phone that alert customers to activity on your account such as deposits, withdrawals, and ATM or credit card use.
A more involved type of mobile banking allows the user to log into his or her account from a cell phone, and then use the phone to make payments, check balances, transfer money between accounts, notify the bank of a lost or stolen credit card, stop payment on a check, receive a new PIN, or view a monthly statement, among other transactions. This type of banking is meant to be more convenient for the consumer than having to physically go into a bank, log on from their home computer, or make a phone call. While all of this is true, some are concerned about the security of mobile banking.

Mobile Banking
Definition:
In many developing countries transferring prepaid mobile phone (cell phone) credits are being used as a way to move money more swiftly and securely than the antiquated and inconvenient banking, postal and transportations systems in these countries would otherwise allow. These prepaid mobile phone credits thus represent an alternative currency that underlies an alternative banking system.

Thus, the most efficient funds transfer and payment method over long distances in much of the developing world involves transferring funds by moving prepaid calling credits between mobile phone accounts. If the ultimate recipient either does not have a mobile phone or desires a cash payment, third parties often stand ready to accept calling credits to their own mobile phone accounts, then to tender the cash to that recipient, minus a commission, often in the range of 10-20%.
Features/Benefits:

• Conveniently bank from anywhere, anytime.
• Check account Balance
• Make deposits
• View Account Transaction History
• Transfer Funds Between Accounts
• Pay Bills
• Identification of branch and locate ATMS
• View Scheduled Bill Payments
• Cancel Pending Bill Payments
•Call customer service
•Stay secure
• View Bill Payment History
Advantages Of Mobile Banking Through Cell Phone

Mobile banking through cell phone is really catching up. Now you can access your account, transfer funds or make payments with your mobile. Mobile connectivity is vast and this makes mobile banking very successful.

Advantages Of Mobile Banking :

Mobile banking through cell phone offers many advantages for customers and banks are as follows:

Banking through cell phone benefits the banks too. It cuts down on the cost of tele- banking and is more economical.
Banking through mobile reduces the risk of fraud. You will get an SMS whenever there is an activity in your account. This includes deposits, cash withdrawals, funds transfer etc. You will get a notice as soon as any amount is deducted or deposited in your account.
Banks can be in touch with their clients with mobile banking.
Banks can also promote and sell their products and services like credit cards, loans etc. to a specific group of customers
Banks can be in touch with their clients with mobile banking.
Banks can also promote and sell their products and services like credit cards, loans etc. to a specific group of customers.

Mobile banking has an advantage over internet banking. In case of online banking, you must have an internet connection and a computer. This is a problem in developing countries. However, with mobile banking, connectivity is not a problem. You can find mobile connectivity in the remotest of places also where having an internet connection is a problem.

Mobile banking thorough cell phone is user friendly. The transaction mechanism is also very simple. You just need to follow the instructions to make a transaction. It also saves the record of any transactions made by account holders

Mobile phone banking is cost effective. Various banks provide this facility at a lower cost as compared to banking by self.
Mobile banking through cell phone is very advantageous to the banks as it serves as a guide in order to help the banks improve their customer care services.
You can make transactions or pay bills anytime. It saves a lot of time.
You can transfer money instantly to another account in the same bank using mobile banking.

Various banking services like Account Balance Enquiry , Credit/Debit Alerts, Bill Payment Alerts, Transaction History, Fund Transfer Facilities, Minimum Balance Alerts etc. can be accessed from your mobile.

Questions and Answer

What is Mobile Banking?
Mobile Banking is a wireless internet-based service that allows you to do your banking safely and conveniently with your web-enabled mobile phone. Through Mobile Banking, you can view your account balances, look up transactions, pay your bills, transfer funds, and locate the nearest ATM or banking center.

What is needed to use Mobile Banking?

To access Mobile Banking you:
• Must be enrolled in Online Banking
• Must have a cell phone that can access the internet.

How do I can access Mobile Banking?
Simply enter the Mobile Banking URL —(example: https://www.sibl-bd.com)— into the browser of your web-enabled wireless device and then log in using your Bank Online Banking User ID and Password.

The first time you sign in, you may be prompted to answer one of your security verification questions. After you sign in successfully, you can select the actions you want to perform from the main menu.

Add URL-(such as https://m.bankatlantic.com) to your favorites list on your phone’s web browser to save time on future visits, just as you would on your computer.

Which mobile devices are supported for Bank Mobile Banking?

You can access your Bank Mobile Banking from any internet-enabled mobile phone, iPhone, Android, PalmOne OS device, Windows phone or RIM Blackberry device.
Note: The devices must be Internet enabled.
How does Bank Mobile Banking handle Security?

Bank Mobile Banking is encrypted using the Wireless Transport Layer Security (WTLS) protocol, which provides the highest level of security available today. Additionally, all data that passes between the wireless gateway is encrypted using the Secure Socket Layer (SSL) layer.
Is there a fee to use of Bank Mobile Banking?

No. Bank does not charge anything for Mobile Banking. Contact your cell phone carrier to identify any charges that may apply to web browser usage on your cell phone.

What banking services does Bank Mobile Banking include?

With Bank Mobile Banking you can do the following:
• View Account Balance
• View Account Transaction History
• Transfer Funds Between Accounts
• Pay Bills
• View Scheduled Bill Payments
• Cancel Pending Bill Payments
• View Bill Payment History
Can I be logged into Mobile Banking and online banking at the same time?
Yes.
How do I know if my phone is web-enabled?
If you have a MiniBrowser, MicroBrowser or Wireless Web on your phone’s main menu, then it is web-enabled. Contact your mobile phone carrier to confirm that your phone is web-enabled and that the service is activated.

How do I view account balances, details and transactions in Bank Mobile Banking?

Once you are logged on to Bank Mobile Banking, select the Accounts link to display your accounts and balances. From the Accounts screen, select the account that you would like to view.
How do I see more than the first few transactions of my account history?

Due to the screen size on mobile phones, only a limited amount of information can be displayed. Some mobile phones take you to the middle or bottom of a new page instead of the top. To make sure you are at the top of the page, use the up arrow key on the phone to scroll all the way to the top of the page. If you want to view more information below, use the down arrow key to scroll down.

The system is designed to display the last 30 days transactions. If you wish to go further back, you can change the date range at the foot of the Transaction History page in mmddyyyy format.
How do I make a payment in my Bank Mobile Banking?

To access your list of payees in your Bank Mobile Banking, you must first activate the Bill Pay service within Online Banking from a computer. After doing this, your information can be accessible after you sign in to your Bank Mobile Banking and select the Bill Pay option from the main menu. Please note, that due to space limitations, payee names and information may appear truncated on your cell phone. Once you have paid a bill, the payment will display in the pending payments section of the Bill Pay screen.

How do I transfer funds in my Bank Mobile Banking?

To transfer funds on your phone, you will first need to set up all transfer payee information within Online Banking. To transfer funds within your Bank Mobile Banking, sign in and select the Transfer link. You will be able to make immediate transfers between your Bank accounts that are linked for transfer capabilities.
How do I format the dollar amount and date when transferring funds between accounts or paying bills?

When you enter the dollar amount, only enter the numeric amount (e.g. 100 or 100.50); do not add a dollar sign. When entering dates, only use numbers (e.g. two digits for the month and two digits for the day).

How do I find my Bank ATM or branch in Mobile Banking?

To locate your Bank ATM or banking center from Bank Mobile Banking, access Mobile Banking and select the Find Us link on the Home page, select Branch/ATM Locator. Enter Address and City or ZIP Code and press Search.
What happens if I forget my User ID or Password?

You can reset your Password by using the “Forgot Password?” self-service feature located on your bank website (such as www.bankall.org)
If you have forgotten your User ID you can call Customer Service at your bank.

What happens if I get locked out of Bank Mobile Banking?

As with your Bank Online Banking, you can reset your Password by using the “Forgot Password?” self-service feature located on your bank website. or you may you’re your Bank’s Customer Service Center to reset your password. Once your password is reset, you must first specify your new passcode on your Bank Online Banking via your PC. For security reasons, you may not reset your new password on your Bank Mobile Banking. Once your password is reset on your PC, you may use your Account Number and password to immediately log in to your Bank Mobile Banking.
What happens if I don’t have a Bank account with a bank?

You will not be able to use Bank Mobile Banking. You must have a Bank account and be enrolled for Online Banking & Bill Pay in order to use Bank Mobile Banking.
What happens if I am able to view the home page of Bank Mobile Banking on my Pocket PC, but when I attempt to log in I get an error message?
When you attempt to gain access to a secure Web site from Windows CE, you may receive the following error message: “Unable to establish secure connection”
Microsoft Pocket Internet Explorer may issue either of the following error messages:

“The page you are looking for cannot be found” OR “Unable to establish secure connection”
To resolve this issue, update to the Microsoft High Encryption Pack for Pocket PC. This add-on supports MD% certificates with the new hashing algorithm. For information about how to update to the Microsoft High Encryption Pack for Pocket PC, view the following Microsoft Web site:
http://www.microsoft.com/downloads/details.aspx?familyid=DA49D0CF-EF96-4567-B817-215E24668F75&displaylang=en
Download the needed file, and then synchronize your pocket PC.
What happens if I keep getting locked out of my account when I try and log in on my mobile phone? Why doesn’t it accept my log-in information?
Using your mobile phone to enter data takes a little practice. User IDs are case sensitive; make sure you are entering your User ID exactly as you initially entered it. If your User ID begins with a lower-case letter, you may need to use your phone’s shift key to change the default from upper case. In addition, some phones require extra shift key presses to enter numbers instead of letters.
What do I do if I get a “page cannot be displayed” message?
If you get a page cannot be displayed message, you have most likely lost your connection. Try again to establish your connection. If the problem continues, call your Bank Customer Service.
What happens to my session if my phone locks from inactivity?
For security reasons, the session remains open for 5 minutes of inactivity. After 5 minutes, the session ends.
For iPhone users – You should set your phone auto-lock to 4 minutes or less.
What happens if I end my call without logging off of Online Banking? How long will my session stay active?
For security reasons, the session remains open for 5 minutes of inactivity. After 5 minutes, the session ends.
Source: http://www.bankatlantic.com/FAQ/TelephoneBanking/default.ht

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