What is Mobile-Phone Banking?

Important banking qna for banking aspirants, which is helpful in banking exam.

Created On: Mar 27, 2015 15:20 IST

What is Mobile-Phone Banking?

  • The mobile phone banking refers to the facility allowed by certain banks in India whereby the mobile phone holders can undertake certain banking transaction through their mobile phones.
  • This value added service has very little human interface. The private banks like ICICI and HDFC have started offering this service.
  • To avail this service, the client has to fill up form at any of bank’s branches and bank informs the cellular service provider to activate the module instantly.
  • The information which include checking of account balance, request for a cheque book, stop payment instructions, changing primary operations account, request for current periods’ account statement to be mailed and access summaries of last three transactions performed.

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