Mobile Internet Banking and its Advantages. December 16, 2021
When it comes to deciding where to put one’s money, the options seem limitless. Over the past couple of years multiple banks have popped up all across Malaysia with a branch of some national bank occupying every other street corner. Due to this, many people are now facing a dilemma when it comes to choosing their banks because accessibility is no longer a driving force.
In recent years, mobile internet banking has been gaining popularity. This can be attributed to the ease of transaction it provides as well as the increased security. Hence, a lot of people have started choosing their banks based on the amenities offered by the said banks’ online services.
Advantages of Online Banking.
- No Physical Locations.
Online banks do not come with the limitations of a physical bank. Online banks can be accessed at any given moment via the banking app or the webpage.
- Speedy Process.
Using mobile internet banking for the payment of bills or the opening of a bank account is much faster than in a traditional, brick and mortar bank. Once the patron has filled out some basic information, their bank account is opened and validated within minutes if not seconds. The process is hassle free and does not require the patron to fill out multiple forms with the same questions over and over again. It also does not require one to wait for at least two weeks while everything is approved for their bank account. Payment of bills is also faster in online banking. One does not need to stand for hours in a line with a physical copy of the bill and payment money and wait for their turn at the window. Online banking allows users to pay their bills on the go.
- A Slick Process.
Banking is one of the most harrowing and traumatizing experiences for people. It is often reported that people are unhappy with the way their banks are treating them and generally prefer to not have to go to their banks. Mobile internet banking takes out the multiple middle men and paperwork. It allows people to complete their bank related tasks without any hassles or delays.
- Higher Interest Rates.
Mobile internet banks have the ability to offer higher interest rates to their patrons since the online version does not have additional expenditure in the form of building maintenance and office supplies for the workers.
- Next to No Fees.
Mobile internet banking does not dabble in multiple, small transactions fees that it expects its patrons to pay every time a back related activity is completed.
- Phone Customer Services.
In addition to providing customer support in the form of forums where banking experts and managers answer questions regarding the issues being faced by the patrons, mobile internet banking is also fully equipped with phone support. Those who prefer a human touch or cannot find an answer on the forums can call the helpline set up by the bank and get their answers.
Mobile internet banking has a number of pros and very few cons. The form of banking is not hindered by dated limitations such as working hours and accessibility. They make the patrons’ lives easier by allowing them to complete their transactions and check their bank account on the go. Using Hong Leong’s website and smartphone app, start mobile internet banking today.