Mobile Banking Facts you need to know
- 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.