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| Wireless Internet
banking, commonly called wireless banking, allows customers
to access account information and perform transactions
over the Internet using a mobile phone or a personal digital assistant (PDA)
instead of a personal computer. Wireless banking is relatively
new and rapidly evolving; customers may wish to know the
basics:
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Before you sign up for wireless banking, you should find
out exactly how your mobile phone connects to your bank
and verify that your information is secure at all times.
Mobile phone service can connect to your bank in a
variety of ways. In some cases, your mobile phone uses
your Internet service provider
to dial up and connect to a Web server located at your
bank. Alternatively, you may be given a special access
telephone number to dial, and your bank may act as the
Internet service provider. In either case, once you
are connected, you enter your request using the keypad
of your mobile phone or PDA.
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Wireless banking provides most of the services on-line
banking provides, and may also include:
- Information notification and alerts prompting you
to view balances, see whether checks have cleared,
and receive e-mail messages about deposits and other
changes to accounts
- On-demand transactions allowing you to transfer
money from one account to another, make electronic
payments, and perform transactions just as in on-line
banking, but by using a mobile phone or PDA
Wireless banking involves the same security and privacy
issues as on-line banking with a PC. Unlike PCs, however,
mobile phones and PDAs are small and easily lost or
stolen, making it even more important that a password
be required to access account information or perform
transactions. In addition, check to ensure that the
information being sent to you is encrypted.
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Your bank's Web page is a good place to start. The Web
page should provide the terms and conditions of wireless
services as well as privacy, security, and other basic
information. Many banks also include a "frequently
asked questions" section that explains how the service
works and any fees involved. You will need a Web-enabled
or Web-ready mobile phone or PDA; since there are many
different kinds, most banks specify the devices needed
for their particular wireless services. |
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Contact your particular bank and wireless service provider
to determine what happens if a transaction is interrupted,
and check your monthly statements to ensure that all transaction
amounts are correct.
Since mobile devices sometimes lose their signal, it
is important to find out how transactions are completed
and verified. You should receive a confirmation number
for each completed transaction.
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