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2 mins Read | 5 Years Ago

What is the difference between Mobile Banking and Internet Banking

What is the difference between Mobile Banking and Internet Banking?

While online banking made financial transactions highly convenient, the launch of Mobile Banking in India was highly appreciated by the modern on-the-go digital users.

With online banking, users get to manage a host of financial and non-financial transactions from the comfort of their home through computer or laptop. But with Mobile Banking, this comfort has moved a step ahead as it allows users to conduct transactions anywhere and anytime right from their mobile phone.

But, what is Mobile Banking? Isn't it similar to online banking? No, online banking and mobile banking have some important differences like-

1. The functionality of online and mobile banking

The biggest difference between the two is their functionality. Internet Banking allows you to conduct online transactions through your PC or laptop and an internet connection. On the other hand, mobile banking can be done with or without internet.

Many banks nowadays have their mobile apps for mobile banking. Although, you need to have an internet connection to use such mobile banking apps; banks also offer mobile banking through SMS. So, even if you have a very basic mobile and not a smartphone, you will still be able to use some features of mobile banking through SMS.

2. Transaction Facilities

The next difference between Mobile Banking and Internet Banking is the transaction facilities they offer. Generally, the online portal of a bank through which Internet Banking transactions are conducted provide more facilities. From checking account statement, transferring funds, ordering a new cheque book, to opening new FD, you can do a host of transactions with online banking.

But banking is limited when compared to online banking, especially when you are not using the mobile app of your bank. However, bank apps now do offer several facilities like fund transfer, ordering cheque book, checking account statement, locate ATM, and more.

3. Access to online banking portal and Mobile Banking app

To use online banking on your computer or laptop, you are not required to download any particular software or program. You can use any browser to access the Internet Banking website of your bank.

But most of the features of mobile banking can only be used with the help of a mobile app. Depending on whether you use an Android or iOS device, you will have to download the appropriate app of your bank to use this facility.

4. Opening an online banking and mobile banking account

If you know what is Internet Banking and use this facility, you might already have a username and password to log in to your bank's online banking portal.

However, your online banking credentials cannot be used to log in to your bank's mobile app. You will have to apply for Mobile Banking separately. Your bank will then send you a password for the same. Most banks allow you to apply for Mobile Banking through their online banking portal.

5. Push notifications

The last significant difference between the two is push notifications. Just like the other apps you use on your smartphone, the Mobile Banking app also sends push notifications. Many of these notifications consist of amazing deals and discounts for the users. So, you are not required to log in to the app to get these offers.

However, this feature is not available with Internet Banking. You will have to visit the online banking portal of your bank to check out the latest offers or subscribe to the e-mail newsletter.

Banking Revolutionised

Both Online Banking and Mobile Banking are ways to use digital banking services. Both are highly convenient, secure, and help you save a lot of time. Check the features of Internet Banking and Mobile Banking offered by your bank to start using these digital facilities as soon as possible and experience banking in an entirely new way.


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