Phone Banking Meaning

Friends use it, family members wonder about it, and your 80-year-old great aunt has probably asked you “what is phone banking?” about 100 times. Truth be told, we’ve all heard it in the grapevine. But what, actually, is phone banking? Does it work? And is it really trustworthy and useful?

What is Phone Banking

First and foremost: what are we talking about when we speak of phone banking? The phrase actually has two legitimate meanings which define very different things. Yes, extremely different, because one has to do with politics, while the other has to do with banks, i.e. financial institutions. Let’s see the two definitions in detail, to make sure we’re on the same page.

Political Phone Banking or Telephone Banking?

Political phone banking is a strategy used during political campaigns to get voter data together and, eventually, motivate citizens’ votes. Campaign workers collect prospective voters’ phone numbers, call them and talk to them about the campaign. This kind of strategy is largely used in the United States.

Phone banking or Telephone banking is a service provided by financial institutions or banks, that allows the bank’s clients to carry out a variety of different transactions over the telephone.

So, what is this article about? Politics or banks? 

It’s about banks, specifically, phone banking intended as:

Telephone Banking or Mobile Banking

Developed over the last 10 years, and lately enhanced, mobile phone banking provides its users with the means to execute a wide range of financial transactions simply using a mobile phone or similar device. Practically, it enables anyone to have access to banking services at any time of the day, and wherever one is. Phone banking is great because it means you can easily, quickly “get to the bank” without going anywhere! 

Mobile Banking Apps for your smartphone or tablet  

Just think about never having to stand in line for the next available teller. Or being able to take care of a wide range of annoying, and sometimes lengthy, transactions safely, comfortably, 24/7 sitting on the couch. Over a year of global pandemic has made the basic advantages of using a good mobile banking app more evident, and more important. Moreover, the increase in demand has brought banks to be more competitive, and offer a wider range of well-devised services.

Main benefits of using Mobile Banking Apps

Apart from self-explanatory perks, such as not having to stand in line in front of the ATM under pouring rain, mobile banking apps offer a variety of really strategic bonuses. 

It’s time-effective and stress-free, you’re the one to decide when to access your account, and you can be in your slippers. 

It can help you monitor your financial status – tracking your finances constantly via your mobile banking app means you can check your balance any time, and once and again. Basically, it puts you in charge, which can help you better measure and judge your standing 

It’s cost-effective – the banks and financial institutions out there are really wrestling to get customers’ attention. Competitive interest rates, store discounts, special offers are everywhere. Chances are you can find a mobile phone banking app that offers a great deal. And ultimately save money. 

It’s environment-friendly, mainly because it cuts back on the use of paper for notifications, but also because it avoids lengthy journeys reducing exhaust fumes pollution. Mobile phone banking is a sustainable choice.

Last but certainly not least, Italy’s leading banks have developed excellent mobile banking apps, and they speak English! Definitely a great added value for Italy-based foreigners, who can thus avoid complicated conversations with not-necessarily-fluent bank employees.

Best Mobile Banking Apps in Italy

So, you woke up this morning thinking about how cool it would be to have an account that you can directly from your smartphone, via a good mobile banking app. Good for you! Now all you need to do is find the best mobile banking app in Italy. How? Just follow my advice! 

Compatibility, payments, and safety

Firstly, think about what device you want to use. In fact, while all apps can be used with a smartphone or tablet, only some of the best mobile banking apps are compatible with smartwatches

Next, you will need to make sure that your preferred app comprises accessory services and/ or dedicated platforms that allow you to handle payments. Italy’s best mobile banking apps generally will include systems such as CBILL, Google Pay and Apple Pay, Sisal Pay, Poste ID with SPID, and PayPal. 

Finally, safety is key. The best mobile banking apps will be those that offer features such as dual authentication, alert notifications for online transactions, disposable OTP codes and other protection procedures. Particularly anxious? Go for an app that combines more sophisticated identification systems, such as Face ID or Touch ID and you’ll be 100% safe.

Top 4 best Italian mobile banking apps

Fineco App

Fineco Bank is an actual “physical” bank that holds its core business in online operations. Available for both Android smartphones and tablets it’s easy to download from Google Play Store and boasts a simple and intuitive graphic interface. Innovative services include investment management and online trading services.

CheBanca App!

Literally “what a bank!”. The name may seem “not serious enough” but this mobile banking app provided by the Mediobanca group offers uncluttered and well-designed graphics which can help you move across transactions swiftly.  Download it easily from Google Play Store.

BNL Banking App

Ranked among Italy’s best home banking apps ever thanks to the latest version, enhanced by distinctive innovative features such as fast transactions for recurring payments and transfers. Also compatible with Apple Watch Series 3 and 4.

Unicredit App

Extremely popular because of its updated version, entirely customizable according to one’s specific needs and whims. In addition to classic services, the Unicredit mobile banking app also allows you to keep an eye on your budget, withdraw cash from ATMs without using your card, recharge your phone credit and contact the bank from your smartphone.


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