Three Mobile Banking Developments To Keep Your Eye On

The next time you take out your cell phone to make a phone call or send a text message, don't forget to check your bank account balance, pay your bills, or transfer money to your relatives in another state. These services and others are either already available or will become available by midyear now that financial companies are stepping up their mobile banking efforts.Mobile banking is finally hitting the United States, which is lagging behind Europe and Asia where consumers can already do basic stuff on their cell phones like check their bank statements, as well as use their cell phones to make purchases in stores and at vending machines. There are three key waves coming from the banks, the credit card companies, and the cellular carriers that you should be aware of: