Mobile banking, checking your balance and in some cases transferring money using your cellphone, is gaining in popularity.

It is not unlikely that in the near future all ad-hoc payments will be done with a cellphone in hand. In some cases, however, you still need the cash.

The Dutch ING bank released a free application for the G1 Google Phone that allows users to find ATM machines in their vicinity. The application, called ‘wegwijzer‘, locates ATMs near the current location or a location of choice, and displays them as a list, on a two dimensional map, or in ‘augmented reality’ mode where the location is pointed out in the camera view. Simply aim the phone’s camera at the horizon and a marker on the screen shows where the money is.

So, with the cash in hand corner covered, a cellphone is all you need to pay your way through life. Will other banks soon follow suit and will all transactions and interactions soon take place through a 2 x 3 inch screen? Or is this just another mobile gadget and will the comfort of a big computer screen and the familiarity of a bank teller remain a vital aspect of the way people do banking.

(photo courtesy of ING)