From ancient times, human life has been proceeded by exchanging goods or currency. For taking money from one place to another people tried so many techniques or process. At 18th century, people established banking system. Starting from here, people entrust their money, get the funds, the profit and arrange bank loans.
Now-a-days people move to another state, or move to town and family members stay at village because of work. So, reach out to family, money becomes a challenge to many.
Mobile banking has become one great factor for people because of instant service. Local bank of Bangladesh named "BRAC" has launched mone service named "bKash" for exchanging money with moble. For this service one mobile number is necessary only. If one person do not have mobile then also he/she can get this service.
Mr. XXX does not have "bKash" account or mobile number but Mr. YYY wants o send money to Mr. XXX. Then Mr. YYY can send money to any agent of bKash of Mr. XXX's area and Mr. XXX can be varified and got money.
Mobile banking is also available with Bank. Debit or credit of money both are possible with this service.
Difference between bKash and mobile banking:
Bank usually judge the address because of the instruction of bank authority. If the transaction looks fishy or some abnormality is there then that account will be checked. However, bKash does not this kind of judging service. One can check agent information but who is taking money or sending money can not be checked. So, many incidents were related with this service.
Mr. ZZZ was kidnapped and asked 1 lac tk for releasing him. Kidnapper used this bKash service for gettng money. Because kidnapper collected money from different agents and there is no service for agent to check their information.
Car of Mr. AAA was stolen from market. And thieves cntacted him and asked for money. They used this bKash service to get money and also did not return his car.
Now-a-days kidnappers, thieves asked money to send by bKash. This service should be more strict about checking information. Mobile banking is really a fast service in this rapid growth of economy. Any service can be obstacles for this system. So banks should be more carful before lauching anything.