Today almost everyone is having mobile phones in their hand. So, the money transfer and transaction is also getting popular amongst public for faster actions. Since mobile banking process is very simple and easy to handle it is more important to know whether it has any trouble or related issues.
What to do when the Mobile Phone is Lost?
Mostly everyone, irrespective of generation gaps, everyone opts to find out easier ways for banking activities. At times, there will be just only one person from a family or close friends’ circle using the mobile banking facility to do all transactions others’ behalf. Generally, if you send money from branch to another account in the same branch the time taken for transaction might be slow. Whereas, when you transact money from one bank to another bank the transaction happens faster. Other than these type of speed-related issues many are not having any other trouble using cellphones for banking purposes or in mobile banking.
Mobile banking usage is getting more popular for daily transaction doers who find it really difficult to walk up and down to banks and standing in queues though lots of simplifying methods have been established inside the banks to reduce the time.
Though there are many positive notes and time-saving facilities are available through mobile banking, many are there not taking this facility just because of not knowing what to do if your cellphone is lost where you have all the banking related information? Here are the details and what-to-do information for those who use netbanking facility when their mobile phone is lost.
There are two different methods of mobile banking. First one is sending money from your bank (where you have a saving account) to another branch of the same bank. These services are done by the banks itself. The second one is sending and receiving money or transaction between one bank to another bank (a different bank). The second method of mobile banking – that is transactions between two different banks are carried out by a third party portal. In India, this is being carried out by “National Payment Corporation of India”.
When doing a money transfer between two different banks, one has to approach the first bank’s branch (where you hold an account) to solve or to report any issues as these issues arise from the bank from which you are about to do a transaction. If you approach the customer care service department of the particular bank your problems will be rectified. If any technical error occurs during the course of transferring the money and the recipient hasn’t got the transaction yet, it will be immediately known to the NPCI (National Payment Corporation of India) and the same will be addressed to the concerned bank from where you tried to send the money. Even without your notice if a technical problem occurs the same will be notified to the appropriate bank where you hold the account.
Let us clear the worry of what to do when your cellphone is lost. You don’t have to worry when you lose your mobile phone. Money transaction cannot be done just having your mobile alone. The login would be possible only when someone can enter the username and password. And then you’ll be getting a 10-digit security code which has to be keyed in again to access the transaction processing page. Here the most and important “security advice” that has to be noted is that for any reason you should NOT have your username, password and the 10-digit security code stored or saved on your mobile itself.
What to do when your password is locked? It is the same procedure like how you get your ATM PIN number when yours get locked. You will have to call the bank customer care service where you will need to provide all the details requested to ensure the users safety and then it will be resolved within 24 hours time. The netbanking to reach all the levels of the society, it needs further more corrections in its service to ensure safe and secure banking.
If you want to find the simpler way yet smart, instead of seeing this issue as a banking process just approach your mobile phone provider to lock your SIM. This will block the entire mobile phone activities from which no one can do any online activity.