There’s no doubt that mobile is the future of banking. Surveys show that mobile banking is already one of the most common smartphone activities, and the number of people adopting it continues to rise. According to the Federal Reserve Board, 43 percent of all mobile phone users with bank accounts in 2016 had used mobile banking in the previous 12 months, a steep increase from 22 percent in the agency's 2011 survey. Among mobile banking users with smartphones, 53 percent with bank accounts used mobile banking in the previous 12 months.
Why are so many people going mobile to manage their finances? Here’s what our in-branch Digital Experts are telling us:
For consumers and business owners alike, mobile banking minimizes trips to the bank. Instead of taking time out of your day, you can bank on your terms. For example, mobile check deposit is as easy as endorsing your check, snapping a photo of the front and back, and pressing “Submit.” Instead of being limited to branch office hours, you can deposit checks any time, from anywhere.
If you’re tired of playing the “chip or swipe?” game, you can settle the dilemma once and for all with Mobile Wallet. Connecting your debit card to your smartphone through Apple Pay™, Samsung Pay™ or Android Pay™ only takes a few clicks and will allow you to make purchases at participating vendors, giving authorization with your fingerprint or PIN. No more swiping, inserting, or wondering which of the two.
Mobile banking is in many ways safer than traditional banking. To expand on the benefits of Mobile Wallet, your mobile device sends a one-time passcode to the merchant’s terminal. The passcode does not contain your name or card number, keeping your personal information more secure than ever. Meanwhile, features like Card Control take the panic out of a lost debit card by enabling you to turn your card “off” or “on” with a single swipe. You can also block certain transactions, restrict amounts and merchants, and set location preferences.
Manasquan Bank recently added real-time alerts to its mobile app. These alerts can be customized to your needs and instantly delivered via email, text message*, or push notifications. Choose from dozens of alerts, including a purchase with your debit card being processed, a loan payment due, a check cleared exceeding your set dollar amount and more.
At Manasquan Bank, you don’t have to be a techie to use mobile banking— we now offer free, in-person tutorials and setup assistance at our branch offices. Schedule an appointment with a Digital Expert and become one yourself!
*Text and data rates may apply from your service provider.