Now a day mobile phone is like a remote to all type of works. Mobile technology has gone to vast these days. There are 100 crores connection in the country. Banks services are available on the phone. lets get through it………
To avail mobile banking facility first we should submit mobile number registered and application for the mobile banking. Bank fist activate money identification number[ mmid]. This is 7 digit code. Then they activate mobile personal identification number [MPIN]. MPIN is password for all mobile banking services.
For this service then is no need of any application, data, and gprs. we can send sms from normal phone too. then we receive a reply with some options to select from bank. We can process account summery, balance check, cheque book request, mobile to mobile money transfer through this service. Each bank has each no for this service. SMS charges are according to telecom tariffs. Banks also charge for this service.
Ussd is un structured supplementary service data. this is also a part of mobile banking.WE should enter ussd code off the bank and call. we receive options of account statements, mini statements, credit card statement, balances, last transactions, check books loans, fund transfers. Banks doesnt charge any thing on this service. Telecom provider charges 1.50 rs per transaction.
this is the ussd code for banking. After calling this we should first select the bank and branch. we have to select option by typing the serial no of the option. Mpin will be the final security for fund transfer. WE can transfer up to 5000 in this process. for those who want this service telugu should call *99*24#. m pin and mmid should be kept safe. This service is available 24*7 365 days..
BANKING THROUGH APPS………
It only requires a smart phone and mobile data. This also comes under mobile banking. For this we should first register as mobile banking user. We can check balances, account statements, funds transfers and so on through this.
We can use this service from normal phone which access gprs. this also comes under mobile banking. Telecom regulatory authority of india[troy] recently started increases the services of ussd banking.