The study analyzed the effects of Mobile Phone Banking on customer satisfaction in Tanzania Banking Industry conducted at Access Bank in Mwanza city. The study aimed to determine the level of customers‟ satisfaction on services offered through mobile phone banking, to identify important factors influencing customer satisfaction in mobile phone banking services and to identify challenges facing customers in using mobile phone banking. A sample size of this study was 125 respondents registered and using AccessMobile but only 100 respondents participated which is equal to 80% of the targeted population. The method of data collection was questionnaires. The obtained data was analyzed using descriptive statistics with the aid of SPSS (Statistical Package for Social Science) and Microsoft excel and findings were presented in tables. Based on research findings it was concluded that AccessMobile has an influence on customer satisfaction. The study revealed high level of satisfaction for most of the services offered through AccessMobile although there are some services with low satisfaction level which includes agent withdraw and money transfer services , but also the study showed that there are number of factors affecting customers satisfaction in AccessMobile services but the most leading factors are security and system availability, the study also showed that AccessMobile services has a number of challenges facing the users but the most leading challenges are network problem and lack of float by agents. The study recommend that Access Bank management should found out the reasons for low level of satisfaction in money transfer and agent withdraw services offered through AccessMobile and find the solutions to increase customer satisfaction, but also it should ensure there is enough security and system availability as they are important factors influencing its customers in the use of AccessMobile, moreover it should work on solving the challenges facing AccessMobile users especially network problem and lack of float by agents as the main challenges mention by most of customer so as to increase customer satisfaction.