Keep Your Finances on Track This Holiday Season with Mobile Banking

Woman In Shopping Mall Using Mobile PhoneThis time of year often brings many added expenses to our budgets. Between holiday gatherings, gift giving and trips to visit friends and family, it can be easy to get off track with your finances. Mobile banking services can help you stay the course with tools that make it easier than ever to keep track of your spending anywhere and anytime.

If you are taking advantage of mobile banking technology, you’re not alone. In a recent study from the U.S. Federal Reserve, 39% of adults who have both mobile devices and bank accounts are relying more and more on mobile banking, up by one-third from 2013. Here are four tools that are available to many mobile banking customers to help them stick within their holiday budgets.

Person-to-Person Payments

The holidays are a time to get together with friends and family. Maybe you’re meeting a group of friends for dinner at a favorite Bergen County restaurant and sharing the bill. Or paying a babysitter to watch the kids while you’re at the neighbor’s annual holiday bash or taking in a show at BergenPAC. Person-to-person payment options, including Popmoney® from NVE Bank, make it easy to send and receive payments safely through your smartphone. Send money to your friend for your portion of the dinner bill. Pay the babysitter. You can even send a monetary gift to family and friends and include an e-greeting card. It’s the ultimate convenience service.

Stay on Track with Mobile Alerts

There never seems to be enough time during the holidays. As you rush from place to place, it’s easy to lose track of when bills are due and check your account to see if there is enough money to cover a scheduled payment. Mobile banking text alerts is one way to keep pace with your finances. You can be notified if an account balance falls below a set threshold, when a payment has been processed, when you receive an electronic fund transfer, or similar notice on many other banking services – all directly from your phone.

Shop Safely 

Texting can also help ensure you don’t become a victim of mobile identity theft and scams. While this is important year-round, it is particularly vital during the holidays when you are bombarded with emails announcing the best deals and sales of the season. Some of those offers may be created by hackers who want to steal your account information. By setting up additional text alerts, you can receive notifications if your account activity seems unusual. One example is if personal information such as your pin number or address are changed.

At NVE Bank, our customers’ privacy and security are always very important to us. With NVE’s Mobile Banking, no personal or financial information is stored on your mobile device. Additional security features include 128-bit encryption, five minute inactivity logout, and account number masking for added peace of mind.

The availability of these mobile products and services offers NVE customers the enhanced banking experience they deserve, whether they are home in northern New Jersey or traveling. It is part of our continued commitment to provide customers tools to save time and money.

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Sources

http://www.americanbanker.com/issues/179_40/holidays-drove-high-use-of-mobile-banking-apps-1065944-1.html

http://www.cbsnews.com/news/smart-phones-are-revolutionizing-consumer-banking-habits/

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About NVE Bank

The NVE Blog should not be used for banking purposes relating to NVE Bank. Please do not disclose any personal or business banking information on this site. NVE is an Equal Opportunity Lender, Equal Housing and Member FDIC. NVE Bank, established in 1887, offers an extensive range of personal and business products and services. The Bank maintains 12 offices conveniently located throughout Bergen County. For more information, please call our toll-free number 1-866-NVE-Bank (683-2265) or visit our website.
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