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    The revolutionary development in the banking industry, that have made it possible for bank customers to operate their account with their phone has actually brought a significant change in the industry compare to what we have earlier.

    Recently, the banking industry in the quest to decongest the banking hall and to achieve the cashless policy initiated by the apex bank, introduced mobile banking system. There was only internet banking in the industry prior to the introduction of the mobile banking.

    Currently, mobile banking system is in two categories; mobile app and USSD (Unstructured supplementary service data) code. The mobile app is installed in the customer’s smartphone by the bank or customer downloads it online and installs it in his/her phone.

    After the app must have been installed in the customer’s smartphone it also needs to be activated. Secret PIN will be established as a key to unlock the app.

    The USSD code system is the dialing of the bank’s USSD transaction code. In other to do transaction with the USSD code, the customer needs to activate the code with the bank’s ATM card. In the activation process, the customer will be required to create PIN which will serve as a key to unlock the customer’s account through this channel.

    The mobile apps system will requires an existing customer’s account, ATM card, a smartphone, mobile app installed in the phone, access to network, and internet. While the USSD code system requires, an existing bank account, ATM card, a phone (any type of phone that can receive message), access to network.

    The only phone number that can be accepted for this transaction is the number link to the bank account, that is used to receive alert from the account.

    The benefits;

    This system of banking has so many benefits that made bank customers crave for it.

    With the emergency of mobile banking, bank customers can operate their account at the comfort of their house.

    It can be transacted with whether it in the working hour or not, whether the bank is open for business or closed.

    It is easy and convenient system of banking. Whereby the following transactions can be done; account balance enquiries, transfers to another account, and bank, airtime top up and many more.

    The risk of carrying cash and thereby becoming prey to armed robbers, and lost, has been drastically reduced.

    With this system, account holders can make payment of transactions in the market, shopping, or purchase online through the help of mobile banking system.

    It has helped the banks as a source of income due to small charges attacked, as well as helped them decongest the banking hall.


    Some bank customers claims that the use of this system of banking encourages extravagant spending. That it will make them to start spending without planning because they always have access to their account, therefore discouraging them not to save.

    In case of lost of phone, some customers are afraid that unauthorised transfer can be made from their account.

    This system can not be operated without access to network, and internet. Bank customers living in the rural areas where there is no network can not make use of this system of banking.

    There are also class of customers that because of their level of exposure or illiteracy can not make use of this banking system.


    Firstly, they should ensure that their smart phone is always on lock mode to avoid unauthorised transactions with their phone by their friends, and family members in their absent, and in case they lost their phone.

    The PIN is the key to open their account, they should be careful not to reveal  it to anyone. The bank will never ask them of their PIN or any information related to their account through phone call or texts messages. If there is any update in their account, the bank will advise the customer to visit any branch of the bank nearest to the customer.

    In case the customer lost his or her phone, the customer should rush to bank’s customer service to lodge a complain to enable the bank to block access to the mobile banking.

    If all these precautions are being taken, the customer’s account is surely secured.

    Linda Ifunanya

    It is a very good development in the bank. I remember when I go to bank to withdraw money and it will the whole day. But it is not like that again.

    Sunday Chinwe

    This is actually nice. Many customers no longer stress to go to bànk since you can easily do transactions with your phones at your comfort.

    Mercy Chinedu

    Nice so finally I can now do transfer in my mobile phone intreintere

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