Banking Exam Question - Which of The Following Bank Launched SMS Banking (Mobile Banking) Service in Nepal?

Introduction - SMS Banking (Mobile Banking)

SMS banking is a type of mobile banking. It is an office utilized by a few banks or other monetary organizations to send messages (additionally called notices or cautions) to clients' cell phones utilizing SMS informing, or an administration gave by them which empowers clients to play out some money related exchanges utilizing SMS.

Features & Service Offered in Mobile Banking

• Periodic account balance reporting (say at the end of month)
• Reporting of salary and other credits to the bank account
• Insufficient funds
• Large value withdrawals on an account
• An alert that some payment is due
• Account balance enquiry
• Mini statement request
• Electronic bill payment
• Transfers between customer's own accounts, like moving money from a savings account to a current account to fund a cheque
• Stop payment instruction on a cheque
• Requesting for an ATM card or credit card to be suspended

Answer: Option (C)

Explanation: SMS-Banking (mobile banking) was launched by Kumari Bank in 2004.