Mobile banking 19% cheaper than traditional banking

www.WirelessFederation.com/news: According to a research, when compared to traditional bank services, mobile banking services are on average 19% cheaper. It has also been found that the lower the transaction value, the cheaper mobile banking is, in comparison with formal banks.

Mobile banking is also found out to be 54% cheaper than informal options for money transfer. It has also been revealed in the research that the price gap between branchless banking providers and banks was not as large as expected.

Mobile banking services were found to be only 19% cheaper on a medium deposit size of $69 while formal banks proved the significantly cheaper option for high” deposits of $207.