What are the benefits of mobile banking? Here’s what you need to know.

May 5, 2023

As a busy business owner, you’ve got a lot on your plate—daily operations, managing cash flow, hiring staff, and not to mention, trying to keep a healthy work/life balance. We know that it can all really stack up.

When juggling all of these numerous responsibilities for your business, finding time to visit your bank seems impossible. However, there is a solution: mobile banking.

The benefits of mobile banking are clear for business owners. New Valley Bank makes banking easy by offering businesses an innovative money management solution. Let’s explore the benefits of mobile banking when you choose New Valley Bank for your financial future.

1. Security Benefits

Security is a top priority for businesses looking to protect their finances. One of the top benefits of mobile banking is the added safety precautions you’ll find. Our mobile banking app offers various security features, including the following:

  • Biometric authentication, such as touch ID or facial recognition
  • Security questions
  • Required password features, such as special characters, upper case letters, and numbers all required for a safer password.
  • Location sharing to identify payment fraud

2. Track Your Spending

Knowing how much you’re spending on your business and where you’re spending is crucial to protecting your finances. Another crucial benefit of mobile banking is monitoring your business expenses, tracking your past spending, and managing upcoming costs.

Mobile banking makes it easier to get notified when you make a payment exceeding a set amount to identify fraudulent activity and take action to prevent malicious third parties from controlling your funds. These alerts are critical if you lose your debit or credit card without realizing it.

3. Know Your Account History

Payments can quickly get confusing without an overview of where you’re spending your money, leaving you questioning where your money disappeared. One of the core benefits of mobile banking is knowing your account history, where you spent your money, and how you can better allocate your business funds in the future.

Mobile banking allows you to check your statements no matter where you are, saving you the trouble of visiting your bank to identify past transactions. Our mobile app provides you with tools to monitor the following:

  • Credit card transactions
  • Fixed deposit information
  • Banking statements

4. 24/7 Access

The most significant benefit of mobile banking is that it provides you with 24/7 access to your account, right from the palm of your hand. Rather than waiting until normal operating hours at your local branch, our mobile banking app allows you to deposit checks, transfer funds, and make simple transactions from the comfort of your house, office, or anywhere you happen to be. With mobile banking, managing your finances is more convenient than ever before.

Go Mobile with New Valley Bank

We understand the challenges and opportunities that come with starting and running your own business. At New Valley Bank, we’re here to help you navigate these challenges and take advantage of opportunities.

Business banking doesn’t have to be complicated. We’re here to help you access all of the benefits of mobile banking and more so you can thrive financially in your life and business. Our banking specialists are here to help 24/7. Call, text, or reach out online today!

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What are the benefits of mobile banking? Here’s what you need to know.