Citibank has teamed up with the iPhone to allow individuals to effortlessly complete their mobile banking services. Called the Citi Mobile Suite, this iPhone application allows cardholders to access and manage their credit card accounts from their mobile phone, from any location and during any time of the day or night. Could it get any easier?

Advantages of Mobile Banking

Mobile banking; in particular, banking from your mobile phone, has never been easier, and the benefits are clear:

• Mobile banking allows credit card customers to keep an eye on their account, at any given time, thereby giving customers more control over their spending habits. Haven’t we all opened our credit card statements and stood there in awe at the balance because we didn’t realize we charged so much the month before? Mobile banking applications for mobile phones eliminates this monthly surprise by allowing customers to check their balance and their recent purchases, whenever and wherever.
• Mobile phone banking allows customers to keep a close eye on their credit limit so they don’t exceed it and incur costly over-the-limit fees. It allows customers to stay within their budget and not overspend without thinking.
• Mobile phone banking, like the one offered through Citi, allows customers to text requests regarding their credit card account, including balances and transaction history. This feature takes the concept of mobile banking one step further, as it allows customers to receive important information about their account on demand.
• Mobile phone banking allows credit card customers to track spending on their credit card as to prevent identity thieves from obtaining their credit card numbers and charging up their credit cards. The ability to view credit card purchases at any given time is a huge blow to identity thefts who before could potentially make unauthorized purchases for weeks before getting caught. The more connected we become to our credit card accounts the less likely that identity thieves will be able to get away with fraudulent spending.