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Mobile Banking Facts you need to know

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mobile-bankingDo you use your mobile for Banking Transactions? If yes, then do keep in mind the following :
  • You can use your mobile phone to daily transfer upto Rs. 5000 and make payment for purchase of goods/services upto Rs.10,000.
  • All banks which are licensed and regulated in India, have a physical presence in  India and have implemented core banking solutions are permitted to offer mobile banking services through their branches / Business Correspondents.
  • Customers of banks and/or holder of debit/credit cards can use these services.
  • At present mobile banking services are offered for domestic transactions.
  • Customer complaints/grievances arising out of mobile banking facility are covered under Banking Ombudsman Scheme.
  • Banks are required to tell you about risks, responsibilities and liabilities while using mobile banking services.


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