With mobile banking, much of your banking can be done from the comfort of home or on the go. Most banks in the Colorado Springs, CO, area offer mobile banking services. Read on to learn what mobile banking is, and the benefits and drawbacks, so you can decide if it's right for you.
Mobile banking lets you access your bank account online using a computer, laptop or other gadget, such as a smartphone or tablet. On computers and laptops, you usually access mobile banking through a website. For mobile devices, you typically download an app. Many banks offer mobile banking as a free service, but you should check to see if there are any fees before you sign up.
How you sign up for mobile banking varies. In some cases, you need to request access at the time you open your account or call or visit your bank to add the service to an existing account. Other banks let you sign up online or through the app using your Social Security number and/or account number. Residents of ViewPointe senior living community wishing to visit their banks to set up mobile banking can take advantage of our scheduled transportation services.
Each bank has its own mobile banking system, so features vary. The following are some features your bank may provide.
Most mobile banking sites and apps let you access detailed account information. You can check your current balance, track which checks have cleared and see a record of debit card transactions and ATM withdrawals with just a few clicks. In addition, you can typically search for a specific transaction, such as your direct deposit from Social Security. If you need bank statements, you can usually download them from the app or website.
If you have two checking accounts or a checking and a savings, you can usually use mobile banking to transfer money from one to the other. Keep in mind that some banks limit the number of electronic transfers you can make each month and will charge you fees if you go over. Money that you transfer usually becomes available immediately.
Mobile banking sometimes includes Bill Pay. With this service, you enter the names, addresses and account numbers of companies that you pay bills to. Once you have payees set up, you can make payments online. The bank will send the company money electronically if possible. If not, it'll mail a paper check. You can usually set up automatic bill payments to go out automatically on a schedule you specify.
Some banks let you sign up for mobile banking alerts that you get via email or text message. Once you do, they may let you know every time your debit card is used to make a purchase or withdraw money from the ATM. Alerts may also warn you if a check bounced or you've overdrawn your account.
There are many reasons you might want to sign up for mobile banking, such as:
For all their benefits, mobile banking websites and apps do have some disadvantages. These include:
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