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  • Mobile banking features to recognize

    It might not be the wheel, the printing press or the Internet, but for those involved with the financial industry, mobile banking is the biggest evolution in decades.

    You can mobile bank from anywhere."Mobile banking is the fastest-growing channel in bank history," said Matt Wilcox, director of interactive services and marketing at Zions Bank. "Banks simply cannot afford to not leverage this medium and its power to serve their clients and connect with them on a greater level. The challenge will be to innovate and provide the functionality that meets customer demand."

    Here are a few items to be aware of when using a mobile banking application.

    1. Ability to pay bills wherever. Have you ever been out and about and realized you forgot to pay you latest credit card bill? Instead of running home, filling out your paperwork, mailing it and hoping it gets to your creditor in a timely fashion, now all you need to do is click a button.

      You can pay your bills anywhere on the go through your mobile banking app. You can even insert weekly reminders, or set up an automatic bill pay system. If you set up an auto bill pay, you'll never have to worry about missing a payment. This is done in a few simple steps by putting your checking account in line with your credit card account. Thus, anytime your credit card bill is due, your mobile banking app will allot funds from your checking straight to your credit collectors.

    2.  Going green with your green. One of the best parts about mobile banking that might not directly affect you but can help preserve the environment is paperless payments.

    3. Why not save money on postage and conserve paper in the process by going to an all-wireless payment schedule? Instead of receiving a monthly statement in the mail, you can set it up to either receive your statement via email or simply log on to your app to see your expenditures.

      "With more banking capabilities available to users and its obvious convenience, mobile is quickly becoming the preferred channel for many, with one in two customers logging into their accounts at least twice weekly," said ath Power Consulting executive Michael McEvoy. "This is a clear opportunity for banks to build customer loyalty and potentially drive revenue."

    4. Skip lines at the bank. Have you ever waited in line for longer than you hoped at your banking branch? Join the club. One of the best features - and most popular - will help you skip those lethargic lines at the bank.

      If your smartphone has a camera, chances are it can utilize remote deposit. Get a check for your birthday or did someone hand you a check for a recent business transaction? Instead of waiting for the next bank branch you pass, snap a photo of the front and back of the check, and you can directly deposit the amount into your account.

    5. Alerts. There's a gauntlet of available features and alerts to keep you up to date with your account. For instance, you can set up an alert to remind you if you go below a certain value in your checking account. This helps you stay within your means and not overdraw your account, which can strike up costly fees.

      You can also set up security alerts to let you know if any fraudulent activity is going on. If you rarely take out more than $100 from an ATM, it might be wise to set up an alert that lets you know if more than that amount is ever taken out of your account.