Are you one of those people who budget? You may not have enough savings if you fail to have control over your spending. Banks help you keep your money secure and safe. They offer you a mobile app to facilitate online banking services. IDFC FIRST Bank offers the latest banking app with several built-in perks to help you manage your finances and save more of them to invest and earn returns. 

Most people, especially millennials, try to budget by setting a monthly limit. A hand-written budget is still a practice for some to work toward and attain their financial goals. You can handle your money with a personal or household budget. Nevertheless, many people are not successful in tracking and controlling their expenses and saving money. A mobile banking application with smart tools can help you have better control over your finances today.

Here are some ways how an online banking app, like the one offered by IDFC FIRST Bank help, manage your savings and expenses:

  • Open an online bank account

Money that you earn needs to be kept safe and at the same time used to get some returns. A bank account can help you do it. The IDFC FIRST Bank mobile banking app helps you undergo an online bank registration and manage money. To start an account, you have to complete a paperless process by filling in your personal details such as your name, mobile number, email address, employment status, and PAN Card and Aadhaar Card numbers, and submit them, along with essential documents.

The bank processes your details and conducts electronic KYC (Know Your Customer) verification before activating your savings bank account.

IDFC FIRST Bank’s online account opening zero balance helps you earn interest on your account balance and other benefits. It also helps you maintain discipline when dealing with money. 

  • Manage funds transfer and payments 

You can schedule and make payments to anyone on the IDFC FIRST Bank mobile banking app. This helps you pay your credit card and utility bills on time and saves you from paying late fees and wasting money. You can set up an ‘Autopay’ to pay the entire bill or an EMI amount. 

Your utility bills like electricity, insurance premium, gas, and DTH can be paid using the ‘QuickPay’ option on the app, which does not require any registration. The other option is to use the IDFC FIRST Bank Bharat Bill Payment System (BBPS) for quick payment of your bills. 

The online banking app also assists you in transferring funds using the NEFT, RTGS, and IMPS methods. All you need to do is to add the beneficiary name and transfer funds or make payments. For paying through UPI, you need to have a virtual UPI address.

  • Track spending

IDFC FIRST Bank offers its customers one of the most important ebanking services like better money management. With smart filters, you can categorize your transactions based on the name, category, and mode of payment. Moreover, you can also track the expenses and know where you have spent the money and when to cut back.

  • Monitor your banking activities

Checking your banking activities regularly will help you manage your money successfully. With it, you don’t have to worry about surprise debit charges. Moreover, a banking app also helps you track your account and check the balances whenever you want to. Other than these, you can set up alerts for some activities like a low minimum balance, missed payments, and excess spending. 

The advanced banking application from IDFC FIRST Bank allows you to manage notifications to alert you for a large purchase, funds received, upcoming payment, and any unauthorized intrusion.

In conclusion, you can easily manage your finances in 2022 using the IDFC FIRST Bank mobile banking app.