Since online banking is one of the significant services banks offer, we can consider it a highly secure and transparent platform. Major financial institutions use encryption devices to ensure that all customer information is safe, providing security from online fraud and account hacking. Banking needs are often subjective to individuals. For example, some prefer a comprehensive update of their financial activities, while others want to check their savings account balance.
A mobile banking app satisfies all the requirements of existing and new customers. In addition, a customizable dashboard available on the app gives us one-stop access to let us know about our savings bank account balances and regularly used features like mutual fund investments, dues, online shopping, and more. Nowadays, we can also apply for credit or debit cards through this platform.
Features Of A Mobile Banking App:
1. Mobile banking platforms give us rewards on debit cards, credit card payments, and UPI payments.
2. It allows opening a zero-balance account and does not ask for hidden charges and maintenance fees.
3. We can save our money in an RBI-licensed bank account with industry-grade security.
4. A secure net banking app helps us access our VISA debit card, and we can freeze or unfreeze it instantly with a single button.
5. Users get super-fast customer support, quick answers in-app, or connect to their team members within a few minutes.
6. We can upgrade our savings bank account to a salary account with the help of an online mobile banking platform to reap higher rewards.
Benefits Of Using A Digital Banking App:
1. Quick Account Opening:
We can easily open a mobile banking account by following some easy steps, and those are:
- Receive an invitation from an existing customer or download the application
- Next, complete the online registration and login to get access.
- Enter your Aadhaar-linked mobile number and email id.
- Submit all the necessary documents online without any paperwork.
- Finally, complete your KYC verification, and you can start using online banking.
2. Get Rewards On Every Transaction:
- The online banking platform usually rewards domestic spending using the debit card, UPI, net banking, etc.
- We can instantly credit our rewards in our bank account, and we can also redeem a gift voucher with a tap.
3. Fulfill Your Financial Goals:
- The app helps us create various pots for our financial goals.
- Organizing planning allows us to make a lot of money according to our convenience.
- A digital banking app has no restrictions; therefore, we can withdraw cash anytime.
4. Check Balance & Credit Score:
- We can track balances across multiple bank accounts on a single platform.
- It allows us to see the breakdown of all our spending every month through the spending analytics feature available on the app.
- We get to know our credit score before applying for any personal loans.
- We can track mutual funds through the app.
5. Use A Single UPI ID:
- A mobile banking app lets us instantly link all our bank accounts to their platform using a single UPI ID.
- We can easily make all the transactions, bill payments, and money transfers from one account to another with the help of a banking app.
6. Safety & Security:
- Our mobile banking account is mainly associated with an RBI-licensed bank. Therefore, we get top-notch safety and security.
- We can get insurance up to five lakhs and all of that with the convenience of a mobile banking app.
An online banking application has a simple and user-friendly interface with various cutting-edge features and services that satisfies our everyday banking needs. A mobile app allows us to use our digital savings account and run from anywhere with multiple benefits, including video-based KYC, instantly issued virtual debit card, etc.