Mobile Banking - The Future of Handling Your Finances

(March 03, 2022) - In a modern world with access to the internet from nearly anywhere, banking has been forced to evolve. Thanks to the advent of mobile banking, that evolution has given banking customers, including ours at NBT Bank, more convenience than they’ve ever had.

The NBT Bank Mobile App can help you effectively manage your finances safely and securely. The app features mobile deposit, secure customer service contact, account alerts, transaction history, the ability to make or receive payments from anyone with a bank account with Zelle^®, and more.

What is mobile banking?

Mobile banking is a type of online banking that is designed for and to take advantage of your phone’s capabilities. Banks have offered online banking platforms since before smartphones became commonplace, and indeed the core of mobile banking is based on your standard online banking experience.

However, mobile banking is markedly different from online banking in a few key ways. First, and most obvious, is that mobile banking is specifically designed for a mobile experience. Instead of operating within a web browser like traditional online banking, mobile banking functions within an app that is loaded onto your mobile device, be it a smartphone or tablet.

Second, mobile banking has additional features beyond online banking that use your smartphone and tablet to their fullest. These features include mobile check deposit, which utilizes your device’s camera, as well as push notifications and other alerts.

How do you sign up for mobile banking?

Signing up for mobile banking is simple: all you need to do is to sign up for a bank account and download the mobile app from the Apple App Store or Google Play Store, depending on your device. From there, simply login to your account on your mobile banking app and click the register button, accepting the terms of service along the way. Then, you’re done! Time to get started with mobile banking.

What are the benefits of mobile banking?

Like online banking, mobile banking offers users the ability to bank whenever they want, without needing to come to their local bank branch. But mobile banking offers one clear additional benefit: you can bank from wherever you want. From your couch to the ballpark to a bus and beyond, mobile banking allows you to bank without limits—and that’s not the only thing you can do with mobile banking.

What can you do with mobile banking?

Mobile banking is convenient and helps you accomplish your day-to-day banking tasks with ease. Best of all, mobile banking isn’t simply a method to view how much money you have in your account. Rather, mobile banking offers a variety of additional features and benefits, allowing you to:

View Transaction History

Access up to 18 months of bank statements, and export history to a CSV file, too.

Manage Personal Information

Update phone numbers, home addresses, email addresses, and more, without any waiting period.

Deposit Checks in a Snap

It’s a snap, literally, to deposit checks. Simply take a picture of your check, select which account you want it to go to, and you’re good to go.

Set and Receive Account Alerts

From push notifications to email alerts, you can set up your mobile banking app to let you know when funds are low, checks clear, and more.

Securely Contact Customer Service

Send and receive confidential documents and more with an encrypted messaging service to the customer service department.

What is Zelle and how does it work?

In such a widespread mobile banking environment, there has also been a specific need to easily send and receive funds. Americans are carrying less cash than ever. According to the Pew Research Center, less than one-fifth of Americans make all their purchases with cash, and about one-third of Americans under the age of 50 make no routine purchases with cash.

So, for all these people who are shifting so heavily to digital wallets, what’s the solution? Enter: Zelle.

Zelle is a digital payments network designed to easily allow you to send and receive money from anyone with a bank account. While there are many other digital wallets, such as PayPal and Venmo, those wallets are their own entities with their own balances that must be integrated with a bank account. Zelle cuts out this middle step by allowing you to send and receive funds directly to and from your bank account.

How does Zelle work? Ultimately, it’s very simple:

Access Zelle in Your Mobile Banking App - Simply select the Zelle icon at the bottom of the screen, accept the terms and conditions, and enter your email and phone information.

Select a Recipient or Sender - Enter the email address or phone number of the person you want to send or request money. If they have Zelle, you’re good to go.

Send and Receive Funds - Choose how much money to send or request. Once the transaction goes through, your account will reflect the change.

Is mobile banking safe?

When trusting your personal information to a digital third party, it’s absolutely natural to wonder about security. Thankfully, mobile banking is as safe as it comes on the internet. When you use mobile banking, your data is encrypted. In other words, even if a hacker grabs the data being sent between you and your bank, they won’t be able to decipher it.

With that being said, there are some things you can do to further protect yourself from fraud and other nefarious schemes.

Use Good Passwords - A good password is easy to remember but hard to guess. Stay away from common passwords and consider using a password generator or other tool.

Don’t Trust Unprotected Wi-Fi - While unprotected Wi-Fi at coffee shops, airports, and restaurants aren’t quite as dangerous as they used to be, there are still ways that hackers can take advantage of the lack of security. Use cellular data instead if you’re able.

Be on the Lookout for Phishing - A common way to undermine your mobile banking security is to trick you into providing valuable information. Be extra wary when asked for usernames, passwords, and the like.

Get Started Mobile Banking Today with NBT Bank

Mobile banking can be extremely helpful in your everyday life, letting you bank when and where you want to. From easily sending and receiving funds to depositing checks, setting up crucial reminders, and more, there are many ways to take advantage of mobile banking.

Here at NBT Bank, we’re committed not only to providing the best banking experience at our branches, but in the digital realm as well. Best of all, all you need to get started on your mobile banking journey is a bank account. Sign up for one today and download our handy mobile app.