Mobile Banking vs Net Banking: Know the Difference

There are various ways to avail of banking services today apart from the traditional form. You can access banking services through NetBanking, Mobile Banking App, or Video Banking. Out of these different ways, the two most popular banking methods are Mobile Banking and NetBanking. While both may sound similar, they vary in many ways. As a new-age internet-savvy customer, you should be aware of these differences.

Let's understand Mobile Banking vs NetBanking in detail:

Difference Between NetBanking and Mobile Banking

1. Meaning

NetBanking is referred to accessing full-fledged banking services online. You can carry out most of the banking and financial transactions through NetBanking. So, it successfully replaces traditional banking in many avenues.

On the other hand, Mobile Banking can be referred to as any banking service availed on a mobile phone. Using a Mobile Banking App, you can open a Savings Account online, avail a Loan, invest in Mutual Funds/Stocks, transfer funds via NEFT/RTGS/IMPS & make payments using the UPI feature.

2. Devices

Any device connected to the internet can be used for NetBanking. This typically includes a laptop or computer. For Mobile Banking, you will need to download an official Banking app from the App Store (for iOS devices) or Play Store (for Android Devices) on your smartphone or tablet.

Note that you can also use your mobile device to log in to NetBanking by opening a web browser on your smartphone or tablet and visiting the bank website.

3. Services

There isn't much difference in availing banking services through Mobile Banking or NetBanking. If you have a stable internet connection, you can use both for various banking services like checking balance, making fund transfers, generating account statements, paying bills, availing any banking service/product, etc.

4. Other Related Services

Both NetBanking and Mobile Banking can offer many added benefits and services. For instance, AU Small Finance Bank enables new & existing customers to access AU Video Banking facility. The option allows users to get in touch with the bank's representatives over a video call to avail any service or resolve any query. AU Video Banking is easily accessible via AU 0101 App & AU 0101 NetBanking.

5. Accessibility

You don't need any special software or app to access NetBanking. You just need to visit the bank's online portal and type in your credentials, like username and password, to access the services. If any AU Small Finance Bank customer wants to use Netbanking, then he/she needs to visit AU 0101 NetBanking login page.

However, you will need to download and install your bank's Mobile Banking App on your smartphone before you can start using your mobile phone for banking. For instance, AU 0101 App is available for download from the Play store / App Store for new & existing customers.

6. Notifications

A significant difference between Mobile Banking and NetBanking is the way they send notifications. Mobile Banking users can receive a push notification from the bank about unique deals, discounts, or offers. However, NetBanking users can learn about the bank's latest offers through emails, newsletters, or by visiting the bank's official website.

7. Limitations

There are certain limitations in the banking functionality with Mobile Banking. For instance, you might not be allowed to perform high-value transactions while banking through your mobile phone. 

NetBanking offers all banking functionalities, but it also has its own limitations. A person needs to have access to a laptop/PC & stable internet connection to be able to access their account.

Benefits of Mobile Banking

• You need a minimum setup to avail Mobile Banking facilities. All you need is a smartphone with a decent internet connection, and you're all set for banking

• You can use Mobile Banking App to recharge your mobile phone, book travel tickets, pay utility bills, etc

• You can use Mobile Banking App to access banking solutions on the go

Read More: What Is Mobile Banking?

Benefits of NetBanking

• You need a user id and password to access the online NetBanking facility making it a safe and secure way

• You can learn in detail about the bank's various products and services

NetBanking vs Mobile Banking - Which is better?

After discussing the differences between Mobile Banking vs NetBanking, it can be said that both services are equally good, secured, and can be effectively used for accessing various banking services.

Key Takeaways

• While there was a time when there were quite a few differences between the two, the differences are thinning out with time.

• The choice between the two should depend on the device you're most comfortable with.

• If you prefer a mobile phone, opt for Mobile Banking. On the other hand, go for NetBanking, if you prefer accessing your account on a computer or a laptop.

• Banks are ready to serve you wherever you wish to be served!