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Would you pay for mobile banking? You might have to

Mobile could soon become yet another moneymaker for banks, rather than a free convenience for customers.

By MSN Money Partner Aug 8, 2013 12:31PM

This post comes from Brandon Ballenger at partner site Money Talks News. 

MoneyTalksNews logoMy bank used to offer a free coin-counting machine, but eventually started placing restrictions on it. First, it charged a fee to anyone who was not a customer. Then it added a fee for totals exceeding $25 no matter who was using it (so I'd put in less than that amount).

Woman Sitting in a Cafe Texting © Stephen Morris, Vetta, Getty ImagesThen, suddenly, it wasn't free at all.

Well, the same thing is probably going to happen with free mobile banking (which, for now, is still free at my bank). More than a third of cellphone owners use mobile apps for banking, nearly double from two years ago, a new Pew Research study says. Some banks are ready to capitalize on the shift.

"Fees for mobile banking are set to become the norm," CNBC says. While the apps themselves might remain free -- to encourage downloads -- services on them, such as check deposit or mobile bill pay, may end up having fees. Banks are experimenting.

Some banks are considering a model where customers pay a flat fee for unlimited mobile transactions, CNBC says -- sort of like a gym membership for mobile banking. Others are just diving right in.

Regions' new app, for instance, has a tiered fee structure that allows instant or delayed access to digital deposits. For immediate access, "customers must pay $5, or a percentage of the deposit -- whichever is higher," CNBC says. For a traditional two-day delay, it's 50 cents.

Why 50 cents? Maybe they analyzed how much gas the average person would use to swing by, or maybe they just copied U.S. Bank, which has charged 50 cents since 2010.

JPMorgan Chase offers free mobile services for now, CNBC says, while Wells Fargo charges for premium services like bank-to-bank transfers and emergency bill pay.

Would you pay a fee to use services through your phone that are free in person? What about things that aren't, like instant access to deposits?

More on Money Talks News:

Aug 8, 2013 1:22PM
Idiots of america letting big business **** on you
Aug 8, 2013 1:53PM
Yep, Yep, Yep. All about the money It actually saves the bank money.  Means that they don't have to provide a bathroom, paper receipt, pens, less time for employees.  And now they want to charge you to save them money.  What's next?  Coin operated toilet or rent a pen for your transactions in person.
Aug 8, 2013 3:26PM
...and the difference between mobile phone use and use from my laptop is????
Aug 9, 2013 1:30PM
So many stupid people who just have no clue. I have been in the marketing/banking industry for years. Just accommodating all the various versions of software/browsers, security etc. And then there is all the regulations which ARE NOT the same as other means of electronic payment. The costs go on and on and you azsholes think it should be free.

Don't like it, then get off your azs and go to the bank in person.
Aug 9, 2013 1:26PM
Why shouldn't you have to pay? It's a service, and it's not cheap to setup or maintain.
Aug 9, 2013 1:07PM
I have never used it & now never will. Your welcome.
Aug 8, 2013 5:41PM

Anything, I mean ANYTHING, to screw the customer.  Customer Service no longer exists...unless you pay a fee for it.  Mobile banking fee, overdraft fee, checking fee.  Soon enough there will be fees if you walk into a bank, if you don't walk into a bank, if you withdraw your money, if you deposit your money.  While the middle class has disappeared, the CEO's have lined their pockets...all from the fees we pay.

Aug 8, 2013 7:31PM
I still have to pay for use of online services at my bank. I get $2.00 off, but I still have to pay a Service Charge.
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