BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What does the M in M-banking stands for?
A
money
B
message
C
mobile
D
mutual fund
Explanation: 

Detailed explanation-1: -The correct answer is Mobile. Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device such as a smartphone or tablet.

Detailed explanation-2: -M-Banking PIN means the secret Personal Identification Number provided to the customer by the bank comprising four (4) digits for authentication/verification by bank of his/her identity.

Detailed explanation-3: -Mobile banking refers to the use of a mobile device, such as a smartphone or tablet, to access and manage one’s banking accounts and conduct various financial transactions. Mobile banking apps offer a convenient and secure way to manage one’s finances on the go, without the need to visit a bank branch or ATM.

Detailed explanation-4: -Mobile banking is online banking designed for handheld technology. It enables customers to access accounts and brokerage services, conduct financial transactions, pay bills and make stock trades. This is typically done through a secure, dedicated app provided by the banking institution.

Detailed explanation-5: -Mobile banking refers to the use of a mobile device to carry out financial transactions. The service is provided by some financial institutions, especially banks. Mobile banking enables clients and users to carry out various transactions, which may vary depending on the institution.

There is 1 question to complete.