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4 Reasons Why You Should Use Mobile Banking

What you'll learn: Reasons a mobile banking app is beneficial


If you’ve never considered using your smartphone to do your basic banking, it’s time to catch up on some great benefits. Although you can’t do everything with mobile banking that you can with an online banking service, you will find the convenience of a mobile app for routine tasks is even better than you imagined.

Not convinced? Let’s run down a few reasons why you should use mobile banking.

  1. Save time and trouble on trips to the ATM or local banking branch. Mobile banking makes it possible to deposit checks right from your smartphone. This eliminates the hassle of visiting your ATM or local branch in person. It also allows you to access your accounts 24/7. With a mobile banking app, there is no waiting around to deposit money.
  2. Stay on top of your money faster and easier than ever. With mobile banking, when you are on the go, you are no longer tied to a home computer, a nearby ATM, or local branch for basic banking needs. Accessing your accounts with a mobile app is fast and simple. It’s easy to do things like double check balances, pay bills, or shuffle funds from one account to another. Staying on top of your finances is as easy as picking up your phone.
  3. Enjoy secure transactions. You might assume that mobile banking apps are somehow less secure than logging in with a computer or visiting an ATM or local branch, but the password and security systems used by mobile apps are solid and proven. Even though mobile banking has been proven to be secure, it is important to keep matters in your own hands. For example, utilize two-factor authentication or biometrics when possible and avoid public Wi-Fi.
  4. Do your banking free of fees. Some banks charge fees to access your money at the branch or electronically, but mobile banking apps remain free. Downloads, texts, and data use might incur fees from your phone provider, so make sure you know what your plan covers before using a mobile banking app extensively.

You can use PenFed’s newly redesigned mobile banking app to:

  • Deposit checks.
  • Check balances and account transaction details.
  • Check the status of loan or credit card applications.
  • Make payments to a PenFed loan, mortgage, or credit card account.
  • Transfer funds or schedule recurring transfers between PenFed accounts or accounts at other financial institutions.
  • Create travel notification alerts for all PenFed credit and debit card accounts.

Download the newly enhanced PenFed mobile app and learn more.