Mobile Banking Makes Dollars & Sense

Staff

Image: refer to hsw

About This Quiz

It pays to carry your bank around with you. Take this quiz and see if you know why mobile banking makes sense.

What devices would you need to do mobile banking?

Access your personal accounts with a smartphone, tablet or PDA device.

What technology is NOT a way to access mobile banking?

Most banks offer mobile services via texting, web browser or app.

What are the typical hours available for mobile banking?

Mobile banking is available anytime, anywhere you have a mobile connection.

How many people are expected to be using mobile banking by 2014?

45 million is a lot of customers -- and represents an increase from 12 million in 2009.

How does mobile banking help you save time?

There's no need to schedule your banking around branch hours.

What percent will most banks cover if unauthorized funds are removed?

Banks are confident that their systems are secure -- so sure that they'll refund all your cash in case of a mishap.

Which mobile banking method offers the least functionality?

You'd use text banking for the simplest tasks, like requesting account information or receiving alerts.

Mobile banking is lagging other apps in popularity because:

Users want to make sure their deposits are safe and secure before they latch on to mobile banking.

What's the first thing you need to do to enable mobile bill pay?

All you have to do to enable mobile bill pay is set up online banking from your PC and enter payee data.

If your phone is lost or stolen, you should:

Disable mobile banking features to prevent unauthorized access to your accounts, then go the next steps.

Quick text is an excellent way to:

Texting allows you to check balances without opening an app or browser.

Mobile banking helps improve your money management because you can:

Mobile banking helps put you in control of your accounts by keeping you abreast of your balances.

A balance threshold alert lets you know when:

Set up a text alert to know when your account dips below a certain amount.

A transaction threshold alert lets you know when:

This feature helps you manage household spending by letting you know if you've spent too much on a particular purchase.

Mobile banking can also help you:

It's a bit ironic, but you can use the locator service when you need to get cash or deposit a check.

Most banks don't charge for mobile banking, but watch for these fees:

Be sure your data plan allows for text messages and web access.

Mobile banking works anywhere you have:

You must have a mobile phone connection to use mobile banking.

Where is mobile banking possible?

Access your accounts anyplace you have a mobile connection.

Mobile banking is attractive to banks because:

By automating customer inquiries, teller and phone support costs go down.

Mobile banking has promising applications among this market:

In some developing countries, more people have mobile phones than bank accounts.

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