Banks provide their consumers access to a wide range of services vis digital platforms such as mobile banking and online banking. Such services can simply be accessed through the internet network. While both mobile and net banking provide similar services, there are a few important distinctions that you must be aware of. Explored in this blog are the distinctions between mobile and net banking and their advantages that you must be aware of.
A comparative analysis between mobile and net banking –
Mobile banking is a very useful instrument for conducting different banking activities. However, net banking provides a wider range of functions, features and services that might not be available via the mobile banking mode. A few important distinctions between mobile and net banking are –
|Parameters||Net banking||Mobile banking|
|Devices used||Mobiles, desktops, laptops, and tablets||Tablets and smartphones|
|Services provided||All banking services are available||Limited – restricted services are available than net banking|
|How to access||You just need a user ID and passcode to use the banking services through the online mode||You just need to download the mobile application through the play store present in your phone|
|Ease||Comparatively a little tough to conduct the banking activities||Simple to use and can be utilised on the go|
|Push notification||Not available||You may receive notifications about banking offers, deals and more|
|Other services||Needs a desktop, laptop, and a quick and stable internet network||Mobile banking may be accessed through message or SMS mode. You may access this by calling up your bank’s customer care number if you want to know your existing balance in your bank account. For instance, if you hold a UCO bank account or a Bank of India account, then you must just call up the UCO bank check balance number or Bank of India check balance number, respectively.|
What is the distinction between mobile and net banking?
The distinction between mobile and net banking are as given below –
Type of device –
- Net banking needs the usage of a desktop or laptop, mobile phone or tablet.
- Mobile banking needs the usage of a mobile phone with the banking application installed in it.
- Mobile banking comes with a restricted set of functions and features.
- Net banking provides a vast range of functions, features, and services.
Onboarding procedure –
- Net banking needs a user ID and passcode for you to sign in.
- Mobile banking needs a passcode to access the banking application.
Push notification –
- Mobile banking sends you a push notification, which contains details about the offers, deals and cashback offers, if any.
- Net banking does not have the feature to send you any push notifications on your mobile phone.
- Mobile banking app is best suited for easy and quick banking activities.
- Net banking is well-suited for advanced banking activities.
What’s mobile banking app?
A mobile banking application is just a compressed form of traditional banking that you can access via your banking application on your mobile phone. To use the mobile banking application, you must ensure to download the apt banking application and use the same to conduct distinct banking activities like transferring funds, making payments, checking account balances, and booking your tickets. You can also, call up on the bank’s customer care number available on the application to know about your transactions in detail or complaint about any transaction that you did not conduct. For instance, if you have an account with UCO bank, then you can call upon the UCO bank balance check number, to clarify all the issues with the bank’s representative directly. Benefits of using a mobile banking app.
- A mobile banking application permits you to conduct distinct banking transactions with ease.
- A stable internet network and smartphone are important requirements for using your mobile banking application.
- You can perform your distinct banking transactions from any location at any time through the mobile banking app.
- Here, in this mobile banking app, you can receive push notifications regarding discounts, updates, and deals, which you must be aware of to make the most out of your bank account.
What are the important advantages of using mobile banking?
There are various advantages of using mobile banking, a few of them are –
- Mobile banking applications can be accessed from any location at any time.
- Banking applications can be customised to match your requirements as a customer.
- You can easily track your activities and transactions via the application.
- Mobile banking application permits you to make payments, view transaction history, transfer funds and even add in beneficiaries.
- Mobile banking applications can be utilised for paying your bills, booking tickets, recharging phone credits and others.
- Mobile banking is simple to use and a user-friendly mode.
- You can set up alerts to make sure of timely repayments of your dues and other crucial obligations.
- Push notifications received on your banking app allows you to remain informed regarding crucial discounts and deals.
How can you make use of the mobile banking app?
You must follow certain measures to utilise the mobile banking app. It must be noted that the banking mobile app structure varies from each other.
- Download the mobile banking application through the Play Store.
- Sign into the application and input your registration and account details.
- Create as well as confirm the passcode.
- Mobile banking app will now be ready for use for online banking payments and other transactions.
Important things you must remember –
- The procedure for setting up the mobile banking application might differ based on the specific app.
- Stable internet connection, as well as a smartphone, are a must to use the mobile banking application.
- It is crucial to forming a strong passcode to protect yourself against digital fraud or theft, as mobile banking applications are vulnerable to such threats.
What is net banking?
Net banking also called internet banking is a kind of digital system provided to you to quickly access your non-financial and financial banking services through the online mode. With net banking service, there’s no need for you to approach the bank physically for any requirement. Additionally, net banking allows you to conduct distinct banking activities like money transfers, forming fixed deposits and easily tracking your transactions.
Mobile and net banking, both are usually safe to use modes as banks have proper systems in place to find out fraudulent activities. Banks might even alert you as a customer if they find out any suspicious activity in your account. Mobile banking applications have strong passcode protection while net banking needs a passcode and user ID to access. However, it is a must for you as a customer to be careful and cautious when using digital podiums as they may still be susceptible to online theft and fraud.