The features that make mobile banking great
Monday, 23 September 2019
Once you've made the decision to begin using a mobile banking app to supplement your banking routine, you might want to start poking around in the app to see for yourself the features that will make it part of your day-to-day life.
With banks striving to include features in their apps that help them become your bank of choice, mobile banking has never been so easy, or added so much to your financial journey. Following are a few of the features that just might convince you that banking with mobile is great.
Mobile check deposit
Believe it or not, mobile check deposit hasn't been around for too long - 2009 was the first time it was smartphone enabled - but these days, it's hard to imagine banking without it. With mobile check deposit, there's no need to go to the branch; just pull out your smartphone, snap a pic, fill in some blanks and you're done. The image is processed and goes to the bank for deposit.
Mobile bill pay
It's a safe bet that paying bills does not top anybody's list of fun things to do. So, don't make it worse by mailing out paper checks. Instead, mobile bill pay is an easy way to set up one-time or recurring payments and let your bank do the heavy lifting. With a little work on the front end - setting up your bill account information - you can schedule payments with just a few clicks through your mobile app.
Person-to-person payments (P2P)
Many mobile banking apps today feature the ability to quickly and easily pay another person without a paper check or cash. The funds are transferred directly from your chosen bank account to the payee's account just by using their mobile number or email address. Some of the more common P2P payment types in bank mobile apps are Zelle and PopMoney. Now, it's easier than ever to pay the class parent for the teacher's group birthday gift, or split the dinner tab among friends.
Mobile banking apps offer a variety of alerts that you can set up to proactively monitor your account(s) and help protect against overdrafts and help you identify suspicious activity. Some of the most common alerts include those for when a change has been made to your profile, when your account dips below a certain balance threshold, when checks have been deposited, and more. BBVA USA offers a variety of alerts in its mobile app.
Personal Financial Management (PFM) tools
Most mobile banking applications have embedded budgeting and savings tools directly in the app, allowing you to easily manage how and when your money is spent. For instance, with Simple, you can track spending directly in the app and use its Safe-to-Spend feature to understand how much you have to spend now, based on future bills and budgets.
Turn debit/credit card on/off
Perhaps one of the features that can ease your mind the most is the ability to turn on or off your credit or debit card, avoiding the headache of a lost or stolen purse or wallet, or fraud. Many apps these days have a feature that lets you quickly and easily turn off (or back on) your plastics immediately. Fraud, or the potential of fraud, is never a fun experience, but this feature of mobile banking can ease the pain, if only just a little.
The content provided is for informational purposes only. Neither BBVA USA, nor any of its affiliates, is providing legal, tax, or investment advice. You should consult your legal, tax, or financial consultant about your personal situation. Opinions expressed are those of the author(s) and do not necessarily represent the opinions of BBVA USA or any of its affiliates.
Links to third party sites are provided for your convenience and do not constitute an endorsement. BBVA USA does not provide, is not responsible for, and does not guarantee the products, services or overall content available at third party sites. These sites may not have the same privacy, security or accessibility standards.
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