Will 2008 be the year that mobile banking takes off? Looks like quite a few banks are positioning themselves to offer access to their services via cell phones, and I for one have already signed up. This service might come in particularly handy to travelers, (cellular access to bill pay option will be a particularly sweet feature in this case), forgetful people like myself (can't even recall how many times I've miscalculated and overdrawn my account while in college), and ... just about everybody who likes to stay on top of their finances. There are currently 3 types of mobile banking sites:

SMS Text Messaging Based Mobile Banks
Banks allow you to send text messages from a phone and they respond with the requested information. This service is usually limited to basic information such as balances and transaction histories. But this method does not require you to have internet service on your phone. Banks which provide this option include, Chase, Wells Fargo and Eastern Bank (which also have access to mobile sites with more features).

Mobile Banking for ATT Customers
ATT has teamed up with 5 banks (with more to come) to provide a mobile application which can be downloaded to your phone. This service is much more full featured than the text messaging based mobile banking, but requires that you have an internet plan . You can view account balances, account history, transfer funds between accounts, view and schedule bill payments.

The banks involved are BancorpSouth, First Bank (which expects to support Verizon customers by the end of 2007), SunTrust, Synovus and Wachovia. Remember, you have to be an ATT wireless customer, and only certain LG, Motorola, Nokia, Samsung and Sony Ericsson phones are currently supported.

Citibank provides mobile banking via download of a program to a compatible cellphone - but it is not carrier specific . Citi Mobile, as the service is called, can also be used to pay bills, transfer money, see balances and activity, find a Financial Center or ATM and get Customer Service.

Banks with Mobile Sites
Banks with mobile sites include America First Credit Union, Bank of America, Cardinal Bank, Eastern Bank (which also provides a text messaging only feature), Eisenhower Bank, First Republic Bank, Flagstar Bank, ING Direct, Salem Five, Wells Fargo (which also provides text messaging only feature) and Washington State Employees Credit Union. These banks offer sites optimized for mobile phones, so there is no software to download.
[Photo Credit: Anita Martinz @ Flickr]

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