Phone Is Lost or Stolen
Mobile banking is a service provided by commercial banks and various financial institutions to ease the process of customers accessing transactions without having to visit the bank. The idea steams from the thought that for a standard commercial bank with millions of customers having account with them, if one-third of that number decides to show up at the office premises, it would be a catastrophe. Cried management would almost be inevitable. No amount of customer service operations can be served to satisfy that number. They therefore found the need to create another route through which basic transactions that would normally warrant that customers get to the banking or financial system premises are conducted and solved right in the comfort of their home.
Technology makes a lot of processes easier and automated and that is exactly what it has done to the banking process, creating a meant through which banking activities are carried out without getting to the bank. Some commercial banks and financial companies also uses the mobile banking system to level up agaist their competition in the industry. If my bank has a need for me to get myself to their office each time I need to conduct a transaction and their next door neighbour is operating the same process without having their customers there, there is every possibility I’ll make enquiries about how they go about their seamless life because I want my banking processes to be seamless too. In a world however that every bank and financial institution has a mobile banking feature, the effectiveness of their services on the platform further dictates how customers feel easy with the transaction process. This way, the competition never seem to end. Some features like:
- The ease of on-boarding customers
- A very interactive user interface
- Bespoke customer service in case of technological glitches
- The security of the platform
- The intuitiveness of the platform
- Localization of the content on the mobile banking platform
all constitute what becomes a good mobile banking system.
The mobile banking platform however is all controlled on the customers mobile hard ware devices either a phone or tablet. What then happens if they loose their phone?
What to do if your phone is lost or stolen
First, you must understand that your financial operations are still safe because no third-party will be able to access the network without your login password. It even comes better if you’ve enabled the two-step verification process. Also, you still make use of your card to make payment and withdraw cash. Depositing money to your accounts is also available via bank transfer.
As soon as you get a new phone, download the mobile banking application and try to access your account with your normal security details. In case you forget any info, click on the “forgot code” or “I haven’t received a code yet” which will connect you with a customer care representative that will reset the process for you and generate a new verification code to enable you access your mobile banking operations.
What do digital banks say? Phone Is Lost or Stolen
Your Revolut card will still function even without your smartphone. You will still be able to make card payments, withdraw cash, and even top up your account via bank transfer. However, we recommend that you download the Revolut app on your new smartphone, enter your phone number, and select ‘I haven’t received a code yet’ to speak with a support agent. We’ll then provide you with a verification code so that you can log in to your account on your new device. Please do not create a duplicated account in this case.
If your phone is lost or stolen, change your passwords immediately. When you change your passwords, you will most likely be logged out of your devices and have to enter your new password to log back in. Contact your bank to see if you can remove your phone as an access point to your account. Pro tip: Keep your phone as secure as you can. Add a lock screen, enable two-factor authentication, and set up your mobile banking app so that it requires a passcode, fingerprint scan, or Face ID to log in.
If you’re stuck without your phone and Monzo card, Monzo Web lets you freeze your card and see your latest transactions, so you can get back to normal faster. How do I get online? Go to web.monzo.com, Enter the email address linked to your Monzo account, Check your email for a magic link to sign in. What can I do on Monzo Web?
You can use Monzo Web to:
- Freeze and defrost your card
- See your last 50 transactions or up to three months of transactions
You can also call or email us, and we’ll be able to log you out of your Monzo account remotely.
Read more information:
Best in Market:
- ICO listing sites ICO Rating Agencies (2019) | Cryptocurrency ICO List | ICO Calendar
- Cryptocurrency Exchanges (2019)
- Top Fintech Companies
- List of Top ICO Marketing Agencies | Best Crypto & Blockchain Marketing Service Providers
- Crypto market cap – crypto prices
- Crypto Exchange / Crypto Exchanges
Reed more information: