Some of the disadvantages of mobile banking are:
• Security: The one most prominent issue faced is security of the account information stored on the mobile devices.
• Mobile banking users can receive fake messages regard disclose of key financial details as hackers here pose as lead banks or financial advisors.
• Mobile banking users assume the cost of smartphone or tablet device and the data usage cost that make their mobile banking possible.
• The consumer may experience a charge from the financial institution for using the service.
