Mobile banking: Banking for the unbanked

Mobile banking is rapidly gaining popularity in our country and it is a big revolution in the banking sector that brings the rural and poor people within the network of banks. Transferring money from one place to another was never so easy, cost-effective, safe and quick. We can complete multi tasks with our mobile phones. We can use our mobile account like a debit card. We can draw and send money anytime and anywhere we want to. I do not have the habit of carrying much cash in my wallet as it is not safe. I keep money in my mobile wallet and whenever needed I withdraw money from nearby outlets which I find practically everywhere and anywhere. We can shop and pay our utility bills through mobile accounts. We can open it easily with a mere Tk.50. All we need is our national ID card and a copy of passport size photograph. We can buy talk time for mobile which saves us from the hassle of going out for flexi load. I hope, more and more of such services will be introduced for mobile bank subscribers so that more people are encouraged to open a mobile bank account as it will help in all our financial transactions.  

Sajjad Hossain

Gulshan, Dhaka.