Cell phones do everything you can think of. You can watch TV, listen to music, speak to someone without calling them, and do you banking. Yes, even the traditionalists in the banking world are catching up to the tone set by the iPhone. Many major banks in the US now offer this service to their customers and here is a guide to the ins and outs of mobile banking. Bank of America One of the largest banks in the U.S. is one of the main contenders in the mobile banking world. Many of the benefits of this service include checking balances, transferring funds, paying bills and setting up account alerts. Checking your balances is done by text messaging your account; you then receive a text message reply giving you the balances you have requested. Transferring money and paying bills is done the same way. You can also set up alerts on your account. Say you set up an alert for whenever your balance falls below $500, the minute your available balance in the selected account falls below this point; you receive an email, text or both to alert you. This comes in handy for customers who are always in the overdraft or running low on funds. Now you have no reason to say you didn’t know how much money you had. The mobile banking service is provided free for Bank of America customers, but I would suggest having a text messaging plan in place before you use the service to avoid an extremely high cell phone bill. Wells Fargo The mobile banking service through Wells Fargo is very similar to Bank of America. You can check activity, balances, transfers and so on through text messaging. Wells Fargo does guarantee your account security through the same on-line fraud protection, and you are able to nickname your accounts so that differentiating between accounts is easier for you. At this time, Wells Fargo does not offer the option to pay bills through mobile banking, but you can still set and receive alerts which can remind you to log onto the traditional on-line banking system to pay your bills. Citibank Again, the mobile banking service offered through Citibank is similar to the two previous programs. The transactions are secure and protected by identifying your phone number in the Citi system, and the types of transactions you can conduct are the same. Citi offers many services through mobile banking including bill payment, statement requests, and even the option to reload a prepaid card. Mobile banking offers customers to potion of carrying their bank in their pocket. There is no longer the need or fear of rushing to the bank for most transactions or inquiries, and getting your balance is much quicker than calling a 1-800 number and cheaper than checking it at an ATM. Most large banks offer this service, and the three examples are very similar to most services. As with any banking service, it may vary, so be sure to talk to a representative about costs, security, and other concerns before signing up. Also remember that through mobile banking, your identifier is your phone number and your mpin (mobile personal identification number) so if you change phone numbers be sure to contact you bank so that the security of your accounts is not at risk.