Why your SME should use mobile banking

There’s a good chance you use your mobile phone for almost everything. Here’s why you should use mobile banking services for your SME if you haven’t made the switch:

1. Round-the-clock access

Mobile banking reduces the need for visits to the bank – which means less time spent waiting in line or trying to figure out when the bank is open. Mobile banking platforms such as DBS IDEAL give you round-the-clock access to banking services, enabling you to check your account balances, make secure payments on the go, and more. This makes sense for busy SME owners, by helping them free up time to manage their core businesses better.

2. Greater control over your finances

Mobile banking gives you greater control over your finances. For starters, you’ll have an instant snapshot of your bank balances and credit facilities, enabling you to move funds around as needed. If you’re a DBS IDEAL customer, you can link your account to online accounting services such as Xero, which give you daily updates on your SME’s financials. You will also be able to make direct bill payments through Xero to DBS IDEAL, eliminating the need to enter payment details multiple times.

3. Paperless banking

By choosing mobile banking platforms like DBS IDEAL, you will no longer need to receive paper statements in the mail or junk mail from your bank. This isn’t just more convenient – it’s a greener option, too. Your information will also be more secure as you will no longer have to physically dispose of confidential bank-related information.

4. It’s secure

Mobile banking services like DBS IDEAL provide top-notch security to ensure your data stays safe. You’ll also enjoy the added convenience of a built-in digital token which you can access from the DBS IDEAL platform. With your digital token, you will no longer require a physical token when you log into IDEAL Mobile on the same device.

5. Prevent unnecessary overdrafts

It is common for bank customers to overdraft one or several times a year. Using a mobile banking platform like DBS IDEAL can help you prevent this by helping you monitor your bank account balances more effectively. Aside from monitoring your account balances, be sure to be mindful of all recurring payments you have to make to ensure you avoid incurring unnecessary fees.

Get DBS IDEAL Mobile today to manage your company’s finances on the go.


Subscribe to DBS BusinessClass

Stay updated with the latest market trends and industry insights, connect with a network of entrepreneurs, and gain access to exclusive event invitations. Join Asia's fastest growing business community – get your complimentary membership here.

 

Subuscribe to DBS BusinessClass