As a bank manager, I can tell you what is the difference between mobile banking and internet banking. People can conveniently manage their accounts without physically visiting a bank branch by using internet and mobile banking. However, the two services differ significantly from one another. Read on to get the comparison.
What is the Difference Between Online Banking and Mobile Banking?
Although financial transactions were incredibly convenient with internet banking, modern, mobile users in India were quite happy when mobile banking was introduced.
But, is mobile banking similar to internet banking? No, there is a significant difference between online and mobile banking, such as:
| Aspects | Online Banking | Mobile Banking |
|---|---|---|
Accessibility |
Needs a laptop or computer with internet connectivity. |
Requires a WiFi or mobile data connection and a mobile device. |
Transaction Facility |
Additional features are offered by a bank's website for conducting internet banking transactions. You can get facilities from ordering a new chequebook, transferring money, reviewing account statements to opening new FDs. |
These include a number of features, including the ability to transfer money, order cheque books, view account statements, find ATMs, pay bills and more. |
User Interface |
Depends on web browsers and a variety of banking websites (some of which may have unique user interfaces). |
Uses user-friendly mobile apps to create an experience that is easy to navigate. |
Security |
Depends on the password, User ID, and other security measures such as a security pin or one-time password. |
Requires the use of safe authentication techniques like two-factor authentication, biometrics, or PINs. |
Push Notifications |
This facility is not available in internet banking. |
Push notifications are sent by the Mobile Banking app, just like you get by the other apps you use on your smartphone. |
Device Compatibility |
This is compatible with laptops or computers. |
This facility is compatible with smartphones or tablets. |
So, I hope you get an idea of what is the difference between mobile banking and online banking.
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Authors Of The Question
What is the Difference Between Mobile Banking and Internet Banking?
Babeesh
96Views
5 months
2024-05-24T07:06:03+00:00 2024-05-26T14:36:50+00:00Comment
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