With the advent of digital banking, one trend that has caught on is the use of mobile phones for banking. Each bank now has their mobile banking application which provides all the facilities that are available on Net Banking. This has enabled people to bank on their mobile phones at any time of the day without even needing to resort to net banking or visiting their branch.
Indian mobile banking includes a whole range of services:
• Checking account balance
• Paying utility and other bills
• Transferring funds using NEFT, UPI, IMPS, RTGS
• Opening a fixed deposit
• Checking fixed deposit balance
• Reviewing historical statements, etc.
These mobile banking services form the bulk of the facilities that people usually want to get done with
Here are 5 reasons to use your phone for banking:
1. Convenience:
The first and foremost reason for using mobile banking services is the convenience. There is no need to visit the bank branch for updating your passbook when you can access your account statement in a matter of a few clicks. With mobile banking, there is no need to even log in to your net banking portal. Most of the services available on net banking are also available on mobile banking. This makes it highly convenient.
2. One-click payments:
Whether it is utility bill payments, credit card payments, or third-party transfers, the whole process can be done in a matter of a few clicks. This has highly simplified banking. There is no need to depend on bank hours since these transfers can be done in real time by using IMPS or the bank's UPI app.
3. Secure banking:
Most banks have security procedures in place for mobile banking. This ensures using the app is safe. To use the app, the customer needs to login using either an ID or the customer care number and the password. Each transaction is verified before being executed. These built-in safeguards improve the security of mobile banking.
4. Offers and discounts:
To make mobile banking more attractive to customers, banks roll out various offers and discounts. Using mobile banking can help you take advantage of these different offers.
5. A wide range of services:
Mobile banking is so efficient because of the wide range of services that it offers to its customers. Now, it is even possible to open a fixed deposit using mobile banking services. With user-friendly interfaces, mobile banking is fast replacing the need for human interaction in a bank branch. Mobile banking ensures the customer has ultimate convenience and banking at his fingertips.
Indian mobile banking includes a whole range of services:
• Checking account balance
• Paying utility and other bills
• Transferring funds using NEFT, UPI, IMPS, RTGS
• Opening a fixed deposit
• Checking fixed deposit balance
• Reviewing historical statements, etc.
These mobile banking services form the bulk of the facilities that people usually want to get done with
Here are 5 reasons to use your phone for banking:
1. Convenience:
The first and foremost reason for using mobile banking services is the convenience. There is no need to visit the bank branch for updating your passbook when you can access your account statement in a matter of a few clicks. With mobile banking, there is no need to even log in to your net banking portal. Most of the services available on net banking are also available on mobile banking. This makes it highly convenient.
2. One-click payments:
Whether it is utility bill payments, credit card payments, or third-party transfers, the whole process can be done in a matter of a few clicks. This has highly simplified banking. There is no need to depend on bank hours since these transfers can be done in real time by using IMPS or the bank's UPI app.
3. Secure banking:
Most banks have security procedures in place for mobile banking. This ensures using the app is safe. To use the app, the customer needs to login using either an ID or the customer care number and the password. Each transaction is verified before being executed. These built-in safeguards improve the security of mobile banking.
4. Offers and discounts:
To make mobile banking more attractive to customers, banks roll out various offers and discounts. Using mobile banking can help you take advantage of these different offers.
5. A wide range of services:
Mobile banking is so efficient because of the wide range of services that it offers to its customers. Now, it is even possible to open a fixed deposit using mobile banking services. With user-friendly interfaces, mobile banking is fast replacing the need for human interaction in a bank branch. Mobile banking ensures the customer has ultimate convenience and banking at his fingertips.
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