Loading the player...

DEFINITION of 'Mobile Banking'

Mobile banking is the act of doing financial transactions on a mobile device (cell phone, tablet, etc.). This activity can be as simple as a bank sending fraud or usage activity to a client’s cell phone or as complex as a client paying bills or sending money abroad. Advantages to mobile banking include the ability to bank anywhere and at any time. Disadvantages include security concerns and a limited range of capabilities when compared to banking in person or on a computer.

BREAKING DOWN 'Mobile Banking'

Mobile banking is very convenient in today’s digital age with many banks offering impressive apps. The ability to deposit a check, to pay for merchandise, to transfer money to a friend or to find an ATM instantly are reasons why people choose to use mobile banking. However, establishing a secure connection before logging into a mobile banking app is important or else a client might risk his personal information being compromised.

RELATED TERMS
  1. Mobile Marketing

    Mobile marketing is marketing that takes place via mobile devices ...
  2. Mobile Commerce

    The use of wireless handheld devices such as cellular phones ...
  3. Mobile Advertising

    Mobile advertising is a method of advertising that appears on ...
  4. Enterprise Mobility

    Enterprise mobility describes a trend in business where work ...
  5. Mobile Payment

    Money rendered for a product or service through a portable electronic ...
  6. Enterprise Mobility Management ...

    Enterprise Mobility Management (EMM) is the distribution, organization ...
Related Articles
  1. Personal Finance

    How Cell Phones Have Changed Your Budget

    The cost of owning a cell phone wasn't a factor for people less than two decades ago. Today, there seems to be no end to the additional charges that come from owning a smartphone.
  2. Tech

    Top Mobile Banking Dangers And How To Avoid Them

    Banks have improved the functionality of mobile banking so that consumers can transfer funds, pay bills or check balances whenever and wherever they may be.
  3. Tech

    Best Mobile Payment Apps for Tap and Pay

    There are four big players now – not counting the Starbucks app, which may be the one you've actually tried.
  4. Insights

    Mobile Money: Using Your Cell Phone To Transfer Funds

    Are you up to date on how easy it is to move your money around with your cell phone?
  5. Tech

    Mobile Payments Could Replace Cash By 2016

    Could paper money be replaced by mobile payments in the near future?
  6. Tech

    China Mobile: Just How Big is It? (CHL, CHU, CHA)

    The story behind China Mobile, the biggest company you might never have heard of.
  7. Small Business

    Mobile Ad Competitors: Facebook Vs. Google

    Facebook and Google are locked in a heated battle in the mobile advertising sweepstakes. Who will win?
  8. Insights

    How Online Banking Is Overtaking Traditional Banking

    Is traditional banking doomed to be surpassed by online banking?
  9. Investing

    China Mobile Endures Downgrades (CHL, CBSH)

    While investors like Commerce Bank sells shares, China Mobile retains footing in 4G space, anticipates expansion.
  10. Investing

    Cisco: Mobile Data Traffic Up Sevenfold by 2021

    Finding: More of the planet will have mobile phones than running water in five years' time.
RELATED FAQS
  1. 3 Tips to Refinance a Mobile Home Loan

    Refinancing a mobile home loan is possible if the borrower meets certain criteria. Here are a handful of useful tips on refinancing ... Read Answer >>
  2. What portion of the telecommunications sector will benefit most from continued growth ...

    Learn what portion of the telecommunications sector will benefit most from continued growth in the use of cellphones, particularly ... Read Answer >>
  3. What economic indicators are important to consider when investing in the banking ...

    Find out which economic indicators are most useful for investors in the banking sector, especially those influenced by central ... Read Answer >>
  4. What factors are the primary drivers of banks' share prices?

    Find out which factors are most important when determining the share price of banks and other lending institutions in the ... Read Answer >>
  5. How does investment banking differ from commercial banking?

    Discover how investment banking differs from commercial banking, the responsibilities of each and how the two can be combined ... Read Answer >>
Hot Definitions
  1. Net Profit Margin

    Net Margin is the ratio of net profits to revenues for a company or business segment - typically expressed as a percentage ...
  2. Gross Margin

    A company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage. ...
  3. Current Ratio

    The current ratio is a liquidity ratio measuring a company's ability to pay short-term and long-term obligations, also known ...
  4. SEC Form 13F

    A filing with the Securities and Exchange Commission (SEC), also known as the Information Required of Institutional Investment ...
  5. Quantitative Easing

    An unconventional monetary policy in which a central bank purchases private sector financial assets in order to lower interest ...
  6. Risk Averse

    A description of an investor who, when faced with two investments with a similar expected return (but different risks), will ...
Trading Center