Mobile Banking Makes Dollars & Sense
by Staff
It pays to carry your bank around with you. Take this quiz and see if you know why mobile banking makes sense.

What devices would you need to do mobile banking?

  • Smartphone, tablet or PDA device
  • Personal computer
  • Abacus

What technology is NOT a way to access mobile banking?

  • App
  • Texting
  • E-mail

What are the typical hours available for mobile banking?

  • 24/7
  • 9 a.m. - 5 p.m.
  • Noon - midnight

How many people are expected to be using mobile banking by 2014?

  • 35 million
  • 45 million
  • 55 million

How does mobile banking help you save time?

  • Anywhere, anytime access to accounts
  • Pays bills automatically
  • Puts money into savings

What percent will most banks cover if unauthorized funds are removed?

  • 100 percent
  • 50 percent
  • 80 percent

Which mobile banking method offers the least functionality?

  • Text banking
  • Mobile Web site
  • Apps

Mobile banking is lagging other apps in popularity because:

  • The economy is slow
  • People are wary of online security
  • Games are just more fun

What's the first thing you need to do to enable mobile bill pay?

  • Set up online banking from your bank's Web site
  • Inform your payees that they'll receive payments remotely
  • Request paperless billing

If your phone is lost or stolen, you should:

  • Disable mobile banking
  • Use "Find my phone"
  • Contact your service provider

Quick text is an excellent way to:

  • Check balances
  • Transfer funds
  • Pay bills

Mobile banking helps improve your money management because you can:

  • Review balances more frequently
  • Monitor accounts for fraudulent activity
  • Locate low prices and special offers

A balance threshold alert lets you know when:

  • A minimum balance is reached
  • A maximum balance is achieved
  • A deposit is received

A transaction threshold alert lets you know when:

  • A purchase over a pre-determined amount is made.
  • Funds are diverted from your account
  • A third party has accessed your account

Mobile banking can also help you:

  • Locate an ATM or branch
  • Find a great restaurant
  • Find higher interest rates

Most banks don't charge for mobile banking, but watch for these fees:

  • Fees for downloading apps
  • Transaction charges
  • Data charges from your mobile service provider

Mobile banking works anywhere you have:

  • A mobile connection
  • Web access
  • Your smartphone

Where is mobile banking possible?

  • In a taxi
  • At a stadium
  • All of the above

Mobile banking is attractive to banks because:

  • It reduces administrative costs
  • Customers can monitor their finances better
  • They can reduce operating hours

Mobile banking has promising applications among this market:

  • Developing countries
  • Baby boomers
  • Generation X-ers