Mobile banking is similar to internet banking and the only difference lies in the fact that one is customized for smartphones, while the normal net banking is for computers and laptops. The sudden rise in popularity of the banking apps is due to the simplicity that such programs offer. You can use the mobile banking apps to make a variety of payments ranging from utilities to credit card bills.
Here is a look at all of the payments that you can make using the mobile banking apps.
1. Utilities
Utilities refer to the payments that you need to make each month for services that you use. For instance, most people pay electricity bills, phone bills and cable bills each month. You may have to pay other bills as well. At any rate, keeping track of all these payments can become a hectic procedure.
However, with the mobile banking apps, you are allowed the opportunity to make all of these payments in a hassle free manner. You will not have to keep a record of the payments separately, as the receipts for the same transaction would be stored digitally in your app’s account.
2. Credit card bills
Using the mobile banking app to pay credit card bills can also be advantageous. Firstly, the bill can be paid off in a hassle free manner without the need of writing out a cheque. Secondly, taking advantage of the mobile banking app and using it to pay credit card bill can also get you discounts on the bill amount. This is subjective and the same offer may not be present for all banks.
3. EMI payments
In the case that you have taken a loan, you would need to repay the same over a few months or years. You have to pay a fixed EMI every month. Since this is a fixed monthly payment, you can take advantage of the automated payment options found in most banking apps. With this option enabled, the app will automatically pay the beneficiary with the EMI amount on a specified date every month.
This will save you the trouble of having to remember making the EMI payments each month and reduce the risk of defaulting on your payments.
Essentially, you can make any payments necessary using the mobile banking system. It will make payments simpler and hassle-free. Even though you may be intimidated by the new procedure, it is simple to learn and adapt to. So, just try it out.
Here is a look at all of the payments that you can make using the mobile banking apps.
1. Utilities
Utilities refer to the payments that you need to make each month for services that you use. For instance, most people pay electricity bills, phone bills and cable bills each month. You may have to pay other bills as well. At any rate, keeping track of all these payments can become a hectic procedure.
However, with the mobile banking apps, you are allowed the opportunity to make all of these payments in a hassle free manner. You will not have to keep a record of the payments separately, as the receipts for the same transaction would be stored digitally in your app’s account.
2. Credit card bills
Using the mobile banking app to pay credit card bills can also be advantageous. Firstly, the bill can be paid off in a hassle free manner without the need of writing out a cheque. Secondly, taking advantage of the mobile banking app and using it to pay credit card bill can also get you discounts on the bill amount. This is subjective and the same offer may not be present for all banks.
3. EMI payments
In the case that you have taken a loan, you would need to repay the same over a few months or years. You have to pay a fixed EMI every month. Since this is a fixed monthly payment, you can take advantage of the automated payment options found in most banking apps. With this option enabled, the app will automatically pay the beneficiary with the EMI amount on a specified date every month.
This will save you the trouble of having to remember making the EMI payments each month and reduce the risk of defaulting on your payments.
Essentially, you can make any payments necessary using the mobile banking system. It will make payments simpler and hassle-free. Even though you may be intimidated by the new procedure, it is simple to learn and adapt to. So, just try it out.
No comments:
Post a Comment