Using a mobile browser is the easiest way to conduct banking with a cell phone. The ability to view and monitor account activity, check bank balances, transfer funds, or search for the closest branch or ATM are typical features of a bank’s mobile-enhanced site. Typically, no enrollment is necessary if a customer is already enrolled in online banking. In addition, because cell phone visitors are logging on each time they connect as if they were are their desktop or laptop a lost cell phone is not an immediate gateway to the owner’s banking activity as the information is still password-protected. The Apple iPhone has a great extremely user-friendly browser which it makes mobile banking easier, but it is not the only option for mobile banking.

The second style of mobile banking is using applications which are downloaded onto a supported mobile device. Typically, a mobile banking application platform offers more options that a browser-based platform but that can vary from bank-to-bank. The amount of data downloaded or transferred on a monthly basis is important because cell phone carriers sometimes charge a surcharge for amount of access time.

Security is a major question that consumers have raised about mobile banking because the likelihood of losing a cellphone is much higher than losing a laptop and our handheld devices contain less software designed to prevent viruses, keystroke logging, trojan horses, etc. The mobile banking industry has been in front of this with testimonial after testimonial about security features imbedded in the mobile banking platform. So far there have not been a large number of media stories regarding security breaches. Interested in mobile banking? Two sites which update mobile banking technology are Netbanker and Mobile Banking.