Mobile banking, also known as e-Banking, online banking, internet banking and many more is a very helpful invention that can help you with your bank errands. The best part of mobile banking is it has no additional charge and you can access it anytime and anywhere you want! If you are still going to the bank like in the old days, this is a sign that you should start using mobile banking. Curious to find out why? Read this article to learn what is a mobile banking in Malaysia!
So.. what is it?
The simplest way to explain what is a mobile banking in Malaysia you can do your day-to-day financial transactions online or through an app, not in a branch. On their websites, the majority of traditional banks provide mobile banking. You can control your money online by doing everything from signing up for your bank’s internet banking service to:
- Keeping track of a linked mortgage or loan
- Opening new savings accounts
- Transferring funds
- Making payments
The majority of banks also offer apps that let you make the same kinds of transactions on your smartphone.
What are the benefits of mobile banking?
- Convenience
Banking on your phone or computer saves a lot of time. With just a few clicks, you can pay your bills, check your balance, and move money between your checking and savings accounts.
- Get notified immediately
You can choose to receive notifications via email or text message based on your preferences. Furthermore, you can check on your account at any time by text or email, for instance, in the event that your balance drops below zero or that a significant purchase is made.
- Always accessible
Unlike going to banks, you are limited to the hours of operation which typically run from 9 a.m. to 5 p.m. and only a few hours on Saturday (most are closed on Sunday). With mobile banking, you can access it anytime you want!
- No paperwork
You don’t have to fill out any paper forms for online banking, like an application, a withdrawal slip, or a paper check. Some banks also allow you to deposit checks with a picture taken with your phone.
Is mobile banking safe?
To be frank, no mobile banking is 100% safe from cybercriminals. There is always a risk of you getting robbed virtually. Therefore, follow these tips to ensure your mobile banking account is safe from the cyber criminals!
- Be more aware
Whenever possible, check your statements. Contact your bank as soon as you notice anything unusual.
- Turn on your notification
Your bank will send you a message to confirm the details of your transactions, making it easier to spot unusual activity.
- Be more alert
No matter how convincing they appear, never give out passwords or personal information to anyone claiming to be from your bank via phone or email.
- Log out
Always close any apps on your smartphone or tablet and log out of your online banking session.
- Create unique and strong passwords
Passwords and PINs should be distinct from those you use elsewhere and difficult to guess.
Now that you’ve reached here, you should know what is a mobile banking in Malaysia! So, what are you waiting for? Go create an account now!