A Complete Guide About the Difference Between Net Banking and Mobile Banking

Difference Between Net Banking and Mobile Banking

Banks offer easy access to various facilities to their customers in the form of digitalized services through the mediums of net banking and mobile banking. Both the mediums can be accessed online with the help of stable internet connectivity. Even though similar services are offered through net banking and mobile banking, there still are some differences between them that make them two separate mediums.

Table of content-

  1. A comparative difference between net banking and mobile banking
  2. What is the difference between net banking and mobile banking
  3. What is mobile banking?
  4. What are the benefits of mobile banking?
  5. How to use a mobile banking application?
  6. Limitations of mobile banking application
  7. Things to take care of when using a mobile banking application
  8. What is net banking?
  9. What are the advantages of net banking?
  10. How to register for net banking offline?
  11. How to register for net banking online?
  12. Net banking or mobile banking application- which one is more secure?

While net banking and mobile banking both enable customers to perform multiple tasks as per their requirements, the differences between net banking and mobile banking are many. Mobile banking is known to be a handy option to perform several financial transactions like transferring funds, making payments, etc., whereas, net banking is suitable to perform other major tasks like converting an account (salary to savings, etc.), making changes to the communication address, ordering cheque books and more.

In this blog, we will understand the difference between net banking and mobile banking, their benefits and the most suitable option to get started with.

A Comparative Difference Between Net Banking and Mobile Banking

Mobile banking can be considered a good to go option to perform various banking features; however, net banking is vast and carries almost all the features, functionalities and services that are not available with banking mobile applications. Following are the differences between net banking and mobile banking-

ParametersMobile BankingNet banking
Device usedSmartphones, tabletsLaptop, Desktop
Services offeredLimitedAll banking services available
How to accessCustomers only require a User ID and password to use banking services onlineCustomers need to download the banking mobile application
EaseEasy to use and can be used on the goComparatively a little difficult to perform banking services
Push notificationsCustomers receive notifications regarding banking offers, exciting deals and moreNot available
Other servicesMobile banking can be access through SMSRequires laptop, desktop and a stable internet connection

What is the Difference Between Net Banking and Mobile Banking?

The difference between net banking and mobile banking are as follows-

  • Net banking requires one to use a laptop or desktop computer, whereas a mobile banking application makes it mandatory for the customer to download the application
  • Mobile banking applications carry a limited number of features and functionalities. On the other hand, net banking is a vast pool of features, functions and all the banking services available
  • The customer requires to log in to the net banking through user ID and a password, whereas mobile banking application requires one to enter a passcode to open the application
  • Banks send push notifications to their customers regarding mobile banking applications which is not the case with net banking
  • Mobile banking can be used for short and instant banking services whereas net banking can be used for more elaborative and advanced banking features

What is Mobile Banking?

Mobile banking is a compressed version of all the banking services made available through a banking mobile application. A customer needs to download the respective banking mobile application to perform various banking activities like fund transfer, checking passbook/account balance, making payments, booking tickets and more.

  • A mobile banking application enables a customer to perform various banking transactions
  • The mobile banking application requires a smartphone and a stable internet connection
  • It allows one the freedom to perform banking transactions anytime and from anywhere
  • Customers can avail mobile banking services through SMS
  • Push notifications through the mobile banking application are sent to the customers for timely updates, new deals & discounts

What are the Benefits of Mobile Banking?

There are several benefits of mobile banking, a few among them are-

  • Mobile banking applications can be accessed anytime and from anywhere
  • Banking applications can be customized as per the customer requirements
  • Customers can track their transaction activities
  • Banks allow customers to make payments, transfer funds, track transaction history, add beneficiaries from the banking mobile application
  • Banking mobile applications can be used to make utility bill payments, for mobile recharges, booking tickets, DTH recharge and more
  • Mobile banking is convenient to use
  • Alerts can be activated to make payments always on time
  • Push notifications sent through mobile banking application ensures that a customer is not missing major deals and discounts

How to Use a Mobile Banking Application?

You are required to follow the given steps to use the mobile banking application. However, it is to be noted that the structure of banking mobile applications varies from one banking application to another.

  • Download the mobile banking application from the respective app store
  • Log in to the application and enter passbook number/account number/registration number, etc.
  • Set a password and re-enter it
  • The banking mobile application is set and can be used to perform banking operations online

Things to note-

  • The mobile banking application onboarding process varies from one banking application to another
  • A stable internet connection and a smartphone is required to use a mobile banking application
  • It is advised to set a strong password as mobile banking applications are prone to theft or digital frauds

What are the Limitations of Mobile Banking Applications?

Even though mobile banking applications are the compressed version of banking functionality; however, there are still limitations associated with them-

  • Mobile banking application requires the customers to download the application
  • Banking applications require one to have a stable internet connection and a smartphone
  • The customer is required to update the application after frequent intervals
  • The mobile banking application can be misused if in case the banking passcode is shared with any unknown person
  • In case of low internet connectivity, the app might crash and result in failure of transactions

Things to Take Care of when using a Mobile Banking Application

Listed below are some of the practices to follow for a safer mobile banking application experience-

  • Never share login credentials with anyone
  • It is advised to use a safe network connection
  • Banks never ask for login credentials, or completion of KYC over an SMS or calls; hence, it is advised never to share credentials over call or SMS
  • There should be anti-virus software installed in the smartphone
  • Never sign in from third-party websites or other promotional emails
  • It is recommended not to use another person’s device to log in to the mobile banking application
  • Always log out from the mobile banking application after its use

What is Net Banking?

Net banking is also called internet banking. It is a system electronically and digitally offered by banks to its customers, enabling them to access financial as well as non-financial banking services within minutes. The net banking system eliminates the need to visit the bank physically. Apart from that, net banking makes it easy for customers to avail multiple banking services like money transfer, creating Fixed deposits, Recurring deposits, tracking transactions, etc.

  • Internet banking or net banking can be used by any customer who has an active bank account with the bank
  • A customer is required to register himself/herself to use net banking. Once registered, he/she can start using the banking facilities online
  • Net banking offers more advanced features as compared to mobile banking
  • A customer can register for net banking either by connecting with the bank or log in to the bank’s website
  • To start using the net banking service, the customer is only required to have an active user ID and password
  • Net banking requires one to have a laptop, desktop to use it
  • Net banking services allow one to perform other functions like changing the communication address, ordering the chequebook and more

What are the Advantages of Net Banking?

Listed below are the advantages of net banking that make it an obvious choice to avail banking facilities online-

  • Net banking facility is available 24*7
  • Customers can easily make fund transfers, check transaction history, create FDs, RDs, etc
  • Net banking is secure and protected with customer ID and password
  • It is easy to perform non-financial activities like ordering a cheque book, checking the account balance, passbook, etc
  • A user through net banking can easily block their debit/credit card in case of emergency
  • Changing communication address or primary/secondary address can be done easily through net banking
  • Through net banking, customers can get an elaborative look at the bank and its services

How to Register for Net Banking offline?

Following are the steps the customer can perform to start using the net banking facility-

  • Visit the nearest bank’s branch and get the internet banking application form submitted along with the required documents like bank passbook, Aadhaar card, etc.
  • Upon submission and verification of the internet banking application form and related documents, the banking official will issue the customer ID and password

Note

  • Internet banking application form can be downloaded from the bank’s mobile application
  • The given credentials can be used to login into the internet banking facilities

How to Register for Net Banking Online?

Following are the steps to be followed to register for net banking online

  • Open bank’s official net banking website
  • Click on the login button or click on ‘New user/Register here’
  • If you already have net banking credentials, enter them and proceed. In case you are not an active member, register yourself first
  • Fill the self-registration form along with other details like account number, registered mobile number, CIF number, debit card details and more
  • Next, submit the OTP which is sent to your registered mobile number to authenticate the process
  • Enter your temporary customer ID and password
  • Log in to create a stronger password

Net banking or Mobile Banking- which is more secure?

Both net banking and mobile banking applications are safe to use as the bank ensures to integrate a system that might help in detecting fraudulent activities or any suspicious activity. Additionally, banks also alert their customers in case of detecting if their account is being handled by other authorities fraudulently. Mobile banking applications make it hard for another unknown person to crack the application password whereas net banking can be used only after entering the user ID and password. However, it is advised to use digital platforms carefully and judiciously as they are still prone to online fraud and related activities.

FAQs
From where can I download my banking application?
Banking mobile application is available on the mobile’s respective OS platform, i.e- Google Play Store or Apple App Store.
How can I log in to the banking mobile application?
Login to the banking mobile application by entering the passbook number/account number/or required detail along with the password.
Is it safe to use net banking?
Yes, net banking is safe to use as banks generally use the best of technology to safeguard their customer’s data. Apart from that, net banking services can only be availed by entering a net banking user ID and password.
Can I use mobile banking applications more frequently?
Mobile banking applications are the compressed version of banking services and thus are considered the handy option to perform various banking services. Banking applications can be used frequently to make everyday transactions, transferring funds and more.
Who can use net banking facilities?
Any customer with an active bank account, a net banking user ID and a password can start using net banking facilities.
What is better- mobile banking application or net banking?
Both are good to use as per the requirement. Mobile banking applications can be used to make transactions, transferring funds, checking transaction history, etc., whereas net banking can be used for more advanced requirements.
Can I order a bank cheque book through a mobile banking application?
Banks offer the feature for customers to order a cheque book along with cheque leaflets through mobile banking applications. Though, the feature might vary from one bank to another bank’s application.
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