Mobile banking is like Internet banking but instead of using your PC, you use your cell phone. You can use the service to inquire about your account or to make a transaction. For instance, you can check your bank statement, pay a bill or transfer money from one account to another. There are some mobile banking applications that will even let you deposit checks by taking a picture.
There are two types of services. “Push” services are when the bank sends out information to you. For example, your bank might send you an alert when your account balance falls below a certain amount. “Pull” services are when you request a service or information from the bank – a request to view your last five transactions is an example of a Pull service. Transaction services require additional security; ask your bank what kind of security they offer for transactions via the mobile device.