Mobile Banking Advantages

In the continuing evolution of the banking industry, consumers are replacing some functions of online banking and ATM’s with mobile banking applications. Mobile banking provides the ability to obtain account information and to complete certain financial transactions using a cellular connected device. With an increasing number of institutions providing banking apps, mobile phones and tablet PC’s are being transformed into portable banking centers.

Mobile Banking Services

There is a variety of common services provided through mobile banking, including:

  • Transfer of Funds.
  • Accessing current account balances and/or historical account information.
  • Identification of branch and ATM locations.
  • Secure bill payments via pre established payment protocols.
  • Verification of transactions.
  • Important alerts such as overdrafts, questionable activities, and promotions.


Some concerns for those considering mobile banking are the security of the connection and personal account information. Since mobile banking is implemented on a wide variety of platforms across numerous devices, it is difficult to compromise security on an individual basis. It is also worth noting that current limitations on the type of transactions available with mobile banking nearly eliminate the chances for a malicious attack.

Advantages of Mobile Banking

For members of Wayne Westland Federal Credit Union, mobile banking can offer numerous advantages in terms of convenience and banking options. The most important benefit of mobile banking is the ability to establish connectivity from virtually any area of the country. Compared to traditional online banking that requires an internet connection, the versatility of mobile banking is unparalleled.

Members who engage in mobile banking appreciate the time-critical response of the format. While receiving SMS text messages relating to transactions and upcoming financial obligations, account holders can avoid late payments and service charges and can make time-critical transfers virtually anywhere at anytime.

In situations where immediate alerts are critical, mobile banking affords almost instantaneous transmission of vital information. This can be especially important in a suspected identity theft or unauthorized use of a credit card. Members also benefit from learning about the latest Credit Union promotions, interest rate changes, and other information without having to log onto the Internet or wait for traditional mail.

As more members subscribe to mobile banking, mobile banking account holders may see some banking fees reduced. Credit Unions and their members benefit from mobile banking through diminished operational expenses as a result of reducing work that requires human interaction.

It is evident mobile banking has become a time saver and convenience for all Credit Union members. As mobile devices continue to grow in popularity, the applications and functionality will continue to evolve.

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