Released: September 14, 2008

Your bank in your pocket

Source: Simone Baribeau, Washington Post (Free Registration)

Property manager Joshua Rosenthal was in a car headed toward Miami Beach when he realized he needed to transfer a tenant’s rent money to his company’s account. No problem. The driver didn’t even have to pull off the road. Rosenthal, owner of Bethesda property-management company CAPM, just fiddled with his PDA, and the job was done.

“When you’re away, problems seem to accumulate at a higher rate . . . than when you’re present, so I live off of this,” he said, motioning to his PDA, which sat next to him on a couch in Adams Morgan’s Tryst coffee shop. “Connecting to my bank is a convenience.”

Mobile banking - that is, checking an account balance, transferring funds or paying a bill using a cellphone, BlackBerry, PDA or iPhone - is still in its infancy, but it’s gaining momentum. 

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