Mobile banking: managing your money and transfers from your phone

Mobile banking lets you manage your accounts and send money from your phone. Here’s how it works, and why it’s particularly useful for people sending money internationally.

What is mobile banking?

Mobile banking is the ability to manage a bank account, including checking a balance, transferring money, and paying bills, through a dedicated app on a phone. It’s closely related to online banking, though mobile banking specifically refers to using a phone-based app rather than a web browser.

Why mobile banking matters for international transfers

Mobile banking is the primary financial interface for many immigrants, and understanding its features and security helps senders manage transfers with confidence:

• It’s often the fastest way to fund a transfer. Checking a balance and initiating a payment to a money transfer provider can happen in a few taps, without visiting a branch.

• Notifications keep senders informed without checking manually. Setting up alerts for deposits, withdrawals, and unusual activity helps in monitoring an account without repeated manual checks.

• Security matters more on a device carried everywhere. Using a strong passcode and enabling multi-factor authentication reduces the risk if a phone is ever lost or compromised.

Mobile banking and international money transfers

Comparing a bank’s mobile app features before opening an account, including how easily it lets a sender fund an international transfer, is worth factoring into the decision alongside more traditional considerations like fees and branch access, whether choosing a first U.S. bank account or reevaluating an existing one.

The FTC’s guidance on protecting your accounts⁠(opens in new window) recommends using multi-factor authentication where available, a security practice that applies directly to mobile banking apps and adds a meaningful layer of protection for the account used to fund transfers.

Core security features to look for in a mobile banking app

Not all mobile banking apps offer the same level of security, and knowing what to look for helps in choosing a bank whose app genuinely protects the account. Multi-factor authentication, requiring a second verification step beyond just a password, such as a code sent to a phone or a fingerprint scan, significantly reduces the risk of unauthorized access even if a password is somehow compromised. Automatic session timeouts, which log out a user after a period of inactivity, protect the account if the app is left open on a shared or lost device. Real-time transaction alerts, notifying a user immediately when a purchase or transfer occurs, allow unauthorized activity to be caught quickly rather than discovered days later when reviewing a statement.

Most major banks now offer all of these features, but checking that a specific bank’s app includes them, and that the optional ones like transaction alerts are actually enabled, is worth doing rather than assuming every app comes fully configured for maximum security by default.

Using mobile banking alongside a money transfer app

For someone who regularly sends money internationally, mobile banking and a dedicated money transfer app typically work together rather than replacing one another. A bank’s app manages the core account, deposits, bill payments, and balance tracking, while a transfer app specifically handles the mechanics of sending money abroad, often with better rates and more transfer-specific features like tracking a transfer’s status or estimated arrival. Many senders link their bank account directly to a transfer app, funding transfers straight from their bank balance, which combines the convenience of mobile banking with the specialized functionality of a dedicated transfer service. Read more in the International mobile money transfers⁠(opens in new window) guide.

In Summary

Mobile banking puts everyday account management, and often the first step of funding an international transfer, directly in a sender’s hands. Using it securely, with strong authentication and a healthy caution toward unexpected links, protects both the account and the money being sent abroad.

This publication is provided for general information purposes only and is not intended to cover all aspects of the topics discussed herein. This publication is not a substitute for seeking advice from an applicable specialist or professional. The content in this publication does not constitute legal, tax, or other professional advice from Remitly or any of its affiliates and should not be relied upon as such. While we strive to keep our posts up to date and accurate, we cannot represent, warrant, or otherwise guarantee that the content is accurate, complete, or up to date.