A Brief Guide to Using Mobile Banking Apps

Mobile banking is perhaps one of the most useful features of the smartphone. You can check your balances remotely before making big purchases and monitor your accounts on the go. Even though mobile banking is becoming more and more popular, some features can be a little daunting. Here are the four most useful features that you can easily master on most banking apps:

1. View Your Transactions

Once you’ve downloaded the app to your phone and set up your account information, you can view your recent transactions. First, sign into your account. Your account balance should appear on the main screen. Next, click on the account you want to view. You can see money you’ve spent — usually represented with a dash or in red font — and the money that’s been deposited into your account — often represented in blue. You can also see which transactions are pending and which ones have been cleared.

2. Pay Bills

Another helpful feature, Bill Pay, lets you add payees, schedule automatic payments, and transfer funds directly into others’ bank accounts. First, you’ll need to add payees to your list. Under Bill Pay, you’ll see a screen that says something like “Manage Payees.” To add a new one, you’ll likely need your intended recipient’s account number. Once that’s set up, you can schedule either one-time or recurring payments directly from your phone.

3. Deposit Checks

If you’re still receiving paper checks, you don’t have to go to the bank anymore. Instead, online apps use your phone’s camera to deposit a check directly to your account. First, click on the “Deposit Check” button in your app. Next, sign the back of your check as usual. The app will require you to take a picture of the front and back of your check. Be sure to position the check in bright light on a dark surface so the shot is clear enough to read the account information on the check. After you fill in the check’s amount, the app will deposit the money into your account immediately or within a few hours.

4. Set Alert Notifications

Your online banking app will send you text message notifications for any parameters you specify. For example, you could set your app to notify you when you’ve made too many withdrawals in one day or when an account dips below a certain dollar amount.

While it’s great to master mobile banking for your own piece-of-mind, you still are transferring sensitive financial data through your smartphone. Double your protection by downloading PSafe Total. The free software keeps your phone secure with proven antivirus and antitheft features.