By Paula Ebben, WBZ-TVBy Paula Ebben

BOSTON (CBS) – The number of customers using mobile banking is soaring. In fact, it’s expected to double in the next four years.

Currently, about 38 million Americans use their smart phone to help them take care of their financial affairs.

They say they like it because it makes banking easier when they travel, or when they quickly want to check a balance or make a transfer.

By 2015, it is expected 86 million Americans will bank with a mobile device.

WBZ-TV’s Paula Ebben reports

The attraction to mobile banking is convenience. Customers like being able to avoid trips to the bank or ATM. They also give positive feedback to features that help avoid fees due to overdrafts.

For example, it’s possible to get text messages notifying you of account activity, including when your balance drops below a certain amount, of if you’re account is debited by phone, mail, or online.

“The alert system can become your nervous system, telling you when you need to do something, when you need to take action,” according to market analyst Mark Schwanhausser.

Alerts also help you monitor your account more regularly, which increases your chances of detecting possible fraud.

It is also possible to deposit a check with mobile check deposit. All you have to do is snap a photo of the check with your cell phone’s built in camera. You then upload that picture and your transaction is complete.

Another popular feature is person to person payment. This allows a friend to repay you directly without ever exchanging cash.

Schwanhausser added, “Person to person payment through a mobile device has a lot of appeal where I can just type in your cell phone number or your email address, ship you the money, bang, it is in your account .”

Comments (3)
  1. AaIndah Sita says:

    Check out the MFU W72, a Dual SIM, Dual Standby Windows Mobile 6.5 Smart phone with TV, GPS, WiFi and much more!A Mobile Tv is in my Pocket

  2. Kabeer Kabee Kunhimangalam says:

    Commonly referred to as a ‘Mobile computer’, this smart phone was launched in 2009 and since then it has captured popular… The phone also supports digital television…A Mobile Tv is in my Pocket

  3. Tachuelita Ermoxa says:

    P-380, a mobile Digital TV with built-in DVB-T receiver by NETOPT is one of its kind, a portable media player in a single stylish unit…. Video Archive;I am Older But More Mobile Now

Leave a Reply

Please log in using one of these methods to post your comment:

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s