With digital transactions rapidly gaining ground, the use of banking apps has proliferated across the country. The reasons for this are many, but primarily the following benefits have made mobile banking apps the go to solution for banking necessities.
1. Cashless and Paperless transfers
One of the biggest advantage a banking app offers are cashless transactions. Mobile banking eliminates the need to carry huge amount liquid cash as well as the risk of theft. Even if your mobile is stolen, you can easily block the app, but cash once stolen is very difficult to recover. Additionally cashless transactions do not generate any paper trail as all transaction are saved in an electronic format, so you are also doing your bit for the environment.
2. Utility bill Payments
Payment of utility bills like electricity, water, etc. has never been so easy. With just a few simple taps on your smartphone you can pay all your utility bills in a few minutes from anywhere, thus saving time and energy that would have been wasted otherwise. Additionally, they help you pay your utility bills timely. You can activate services to notify and remind you about utility bill payments at the desired time and date.
3. Features
Apart from the basic features like checking balance, money transfer, finding ATMs nearby, etc. a lot of advanced features are also present in these apps. Nowadays you can open fixed or recurring deposit, check you TDS status, request cheque book, stop payments and do many more things. The interfaces of these apps are also designed in a user friendly way so that you can carry out transactions without any assistance from bank officials.
4. Availability of services
With mobile banking, you can do transactions from anywhere. Additionally certain features like UPI, IMPS, etc. enable you to conduct transactions 24x7 including bank holidays. This ability makes mobile banking apps the most convenient form of banking.
While the benefits mentioned here are the major ones you get when using mobile banking apps, these are not the only ones. Add to that the fact that, these apps continuously get updated with new features periodically, the advantages of using banking apps are also increasing exponentially. So, if you want access to a plethora of new features and lightning fast banking functions, start using banking apps today.
1. Cashless and Paperless transfers
One of the biggest advantage a banking app offers are cashless transactions. Mobile banking eliminates the need to carry huge amount liquid cash as well as the risk of theft. Even if your mobile is stolen, you can easily block the app, but cash once stolen is very difficult to recover. Additionally cashless transactions do not generate any paper trail as all transaction are saved in an electronic format, so you are also doing your bit for the environment.
2. Utility bill Payments
Payment of utility bills like electricity, water, etc. has never been so easy. With just a few simple taps on your smartphone you can pay all your utility bills in a few minutes from anywhere, thus saving time and energy that would have been wasted otherwise. Additionally, they help you pay your utility bills timely. You can activate services to notify and remind you about utility bill payments at the desired time and date.
3. Features
Apart from the basic features like checking balance, money transfer, finding ATMs nearby, etc. a lot of advanced features are also present in these apps. Nowadays you can open fixed or recurring deposit, check you TDS status, request cheque book, stop payments and do many more things. The interfaces of these apps are also designed in a user friendly way so that you can carry out transactions without any assistance from bank officials.
4. Availability of services
With mobile banking, you can do transactions from anywhere. Additionally certain features like UPI, IMPS, etc. enable you to conduct transactions 24x7 including bank holidays. This ability makes mobile banking apps the most convenient form of banking.
While the benefits mentioned here are the major ones you get when using mobile banking apps, these are not the only ones. Add to that the fact that, these apps continuously get updated with new features periodically, the advantages of using banking apps are also increasing exponentially. So, if you want access to a plethora of new features and lightning fast banking functions, start using banking apps today.
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