If you are looking for a new current account, you’re probably thinking about charges, interest rates and service when you compare your options, which is a good place to start. However, with mobile technology rapidly developing, access to a leading and secure banking service on your mobile phone should also be one of your main concerns when looking for your new bank account.

A recent survey has found that the majority of Brits expect to manage their bank account on their mobile phone in the next three years.  So, if you are planning to compare current accounts, why should a good mobile banking service be so important?

Ease of use of Mobile Banking

The research from Monitise, a global enabler of mobile money services, found that over the last two years the number of people managing their bank account on their mobile phone has doubled.  Nearly 10 per cent of respondents were now using their mobile phone to check their balance, make payments or to set up standing orders.

The ease of using mobile banking is one of the main reasons that increasing numbers of people are taking mobile banking functionality into consideration when they compare banking options.

The report, entitled Emerging Trends in Mobile Banking, found that nearly seven in ten people (68 per cent) think that banking using a mobile phone is easier than banking on the internet, while 57 per cent of people had used mobile banking applications more over the last year than in the previous year.

So, if you’re looking for an easy and simple way to manage your money, a good mobile banking service should be high on your agenda when you are thinking about applying for a UK bank account.

Ability to undertake lots of transactions

As well as allowing you to check your balance and look at your most recent transactions, many mobile banking services allow you to undertake other transactions. Many will let you pay bills and cancel direct debits while others let you set up standing orders and transfer money between your accounts.

The ability to access many services on a mobile is another reason why people are increasingly turning to mobile banking. The research from Monitise found that even if people were at home and had access to internet banking, many of them still preferred to carry out banking transactions on their mobile phone.

Shop around for the best mobile banking services

With the majority of Brits expecting to manage their money on a mobile phone in the next three years, finding a good mobile banking service is crucial when you are trying to choose a new bank account.

When you apply for a UK bank account it is worth checking with the bank that they offer an iPhone, iPad or Android application. While many banks’ websites can be accessed through an internet browser on a mobile phone, those banks which offer dedicated applications for your type of smartphone should be considered.

Downloading an app that will run on your smartphone is the easy and secure way for you to set up standing orders, check your bank balance, or pay bills, wherever in the world you are.  Without it, you could soon be left behind as banking technology continues to evolve.