The whole world has witnessed the significance of mobile banking since 2020 when the Covid pandemic started hitting us hard. The majority of people who have trusted bank transfers for long years have shifted their ways to install mobile apps to do financial transactions. Why? The reason for this immediate shift was to avoid unnecessary physical contact and to stop the spread of coronavirus.
However, once people started using mobile banking techniques there is no turning back as international money transfer is so smooth and convenient with a mobile app. Here are the 5 key benefits of using a mobile banking app in 2021. This could be an excellent guide for all those who are still reluctant to follow the trend.
- Convenience: Mobile banking enables you to do money transfers from the comfort of your home. You no longer have to travel to the banks, but can send money online regardless of where you are or what you are doing.
- 24*7 Accessibility: Unlike the traditional physical banks and stores, mobile banking is not restricted by time limits. There isn’t a fixed time schedule, you can send money or request a money transfer at any time of the day.
- Less Expensive: Mobile banking is said to be less expensive than bank transfers, as banks charge more money as transaction fees, hidden fees etc. Although the fee amount may seem small, it adds up to a large amount. Mobile banking also saves your travel expenses to the bank.
- Offers notifications and SMS alerts: As long as your phone number is linked to the account, you will be able to receive personalised notifications and SMS alerts as soon as a transaction is complete. Thus, you can keep an eye on your account transactions, anything suspicious can be caught immediately.
- It’s paperless: Mobile banking allows transactions to be paperless. In traditional banking methods, all transactions involved lots of paperwork and the efforts of numerous staff. Since online banking came into existence, there is zero use of paper.
In this technologically advanced world, mobile banking is a boon and people are ought to start using it more than ever. It is time that we acknowledge the significance and merits of the best online money transfer in Australia and start sending money online.