New banking services that appeal to the younger generation

The economic fall-out has caused many Americans to take an "entrepreneurial" approach to earning money. That is, they have had to think outside of the box, employing alternative mind-sets to that of paid office and factory workers.



School-leavers, the unemployed and the self-employed spend most of their days hunting jobs or "new business". They don't have the time or money yet, to view "branch banking" as a necessity. Waiting, indeterminably, in a long line to see a Teller can be very frustrating, especially for a self-employed person whose valuable business hours are ticking away.



This new colony of young freelancers, entrepreneurs and self-starters are more interested in the products and services that will enhance their businesses, such as: high-yield, interest checking accounts, and the newest portable devices. These people don't normally have cash flow, but will readily put aside the funds necessary to purchase the latest in Smart technology, if they believe their businesses will benefit.



This has opened new "avenues" for banks, like Texas Gulf Bank; to promote traditional services like high interest checking accounts to this "demographic- on the move": the young professionals, by using mobile banking technology.



Mobile banking is a relatively new technology that allows customers to carry out cash-less transactions from their mobile/Smart phones. There would be no need to come into the branch and speak to a representative as the selected mobile banking technology (which can be stored on the phone, or run over WAP) is capable of handling all queries adequately and confidentially.



This new bank service should be the perfect match for the fast-paced lifestyles of these young, up-and-coming professionals. Though 80% of American households have Internet access, less than half that amount use this facility with any consistency. With more predicted to join the ranks of business start-ups, even less individuals will have the time to do their banking online. This is what makes mobile banking so ideal.



Along with their high interest checking account Texas Gulf Bank will also give new and existing customers access to other types of bank accounts, through their mobile phones. Customers will also be able to do the following transactions: check their balance, pay bills, funds transfer, and receive text alerts. There are also GPS capabilities: customers will see maps, showing them to the nearest ATMs and branch offices.



Mobile banking is a convenient and smart way for business owners to access their bank information; and for banks to get to a new stage of capital growth. This service definitely has appeal for the younger generation who never before understood the value of opening high interest checking accounts, but will now have the opportunity thanks tothe availability of mobile banking through Texas Gulf Bank.