How to convert gift card to cash?

There was a time when the idea of a gift card was considered to be thoughtless and mechanical. But in the last few years with the sudden upsurge in mall culture, shopping has become an integral part of those living in urban areas. Due to the countless number of e-commerce shopping websites, Indians have become very brand conscious nowadays. Most of these brands offer the option of gifting a gift card to your loved ones of certain monetary values.

It might sometimes happen that you get a gift voucher from a particular brand that you do not wish to shop from. Or you might feel that in the last few weeks you have indulged in a lot of frivolous shopping and now the time has come to reinitiate the process of saving, therefore, money would seem like a better option than gift cards. Then there is a way in which you can monetarily benefit from all those gift cards that are lying around in your cabinet drawer.

You Can Sell Your Gift Card

There are a few websites, which buy gift cards and you get back to cash in return. If you are the owner of a digital gift card then the chances are that they would be bought immediately. If you have a physical gift card then you have to make it a point to get it shipped to the buyer. In India, you can sell your gift voucher on NAFA, Woohoo, and Zingoy. In order to sell your gift card, you simply need to sign up on the said website and add your mobile number details. The gift voucher once sold, the amount will be transferred to your bank account.

Customers who come to buy gift cards online can now either redeem the card amount online or at the offline store. Woohoo, for example, has more than 150 brands and around 5,000 store portals where customers can easily shop from.

Another way of selling your gift card is by trading it to your friend for cash. Find a friend who might be interested, meet up with them and get your business transaction under process.

Make use of your unused gift card. If you are stuck with too many gift cards and are fed up with shopping, you can make better use of your unused gift vouchers and invest in savings with the money that you get back in return.

How to use to money transfer apps?

Smartphones, today, can manage every little aspect of your life, including your finances if you know how to use the relevant apps. Digital currency is becoming more and more popular and you can use a money transfer app to make almost any payment. The world seems to be shrinking in size and an international money transfer app is bringing individuals even closer.

However, a large number of individuals are still unclear about using a money transfer app and its benefits and precautions. Some of the more popular money transfer apps are user-friendly. You can easily use it to send money online instantly if you follow these steps-

• First, you have to download the money transfer app of your choice from your Android or iOS smart device. Not all apps allow international transactions. If you have to transfer money worldwide, make sure to download an international money transfer app.
• The next step is registration. You have to open the app and fill in the simple details to connect your app with your bank account or card.
• Once you have the account ready, you can add money, make payments or transfer money through your smartphone.
• There is usually a daily limit set on transfer for most app. You will not be able to make daily transactions above this limit.
• To transfer money you have to specify the location or server to which you want to transfer the money. Then you choose the source of the money, which may be your bank account, credit card, debit card or a wallet feature of your money transfer app.

The money transfer app secures all transactions with a security question or password you have to fill. This ensures no transfer of funds takes place without your consent or knowledge. You can transfer money to another bank account or another mobile wallet with your money transfer app.

With the growing acceptance of digital currency, it is essential that you know how to use a money transfer app. It is especially useful for making emergency cash transfers to your loved ones and urgent payments. Follow these simple steps and you will be handling digital currency with ease in no time.

Why usage of mobile apps is on a rise?

With rapid progress and development in the world of technology, both the need and usage of apps or applications have grown. These apps have single-handedly changed the way we live and carry out various tasks such as shopping, mobile banking, calling for a taxi, so on and so forth. There is an application for practically almost everything these days. In recent years, there has been a significant rise in the usage of mobile banking app in the world of technology. Let us join heads and figure out why that is so.

Time and Cost Saving

Mobile Banking these days has become a popular way of conducting banking transactions. Mobile banking saves you the hassle of commuting to the bank and waiting in long queues to get the job done. Not only is an e-banking app cost saving but also time-saving. You can now carry out your transactions from the comfort and luxury of your living room or even your workplace. You do not have to set aside a couple of hours from your already busy schedule every other day to physically pay a visit to the bank. 

Convenience

There is no denying the fact that using a mobile banking app is the most convenient way of getting your money requirements resolved in a short period of time. With just the tap of your finger, you have either completed your online payment for a particular purchase or you have successfully managed to transfer money to your friends or family. These processes normally take up to a few hours when you plan to get them done from the bank physically, but with the coming of mobile banking, life has become simple and easy.

Relief for the aged

When it comes to the question of standing in long queues for long hours the group that suffers the most is the aged who are afflicted with a number of medical conditions. For them, the physical and mental exertion becomes taxing on a regular basis. Therefore, the coming of an e-banking app has become a godsend, especially for the old and ailing.

Mobile Banking is Secure

A mobile banking app is not only convenient but also extremely secure. This security is ensured with the help of a number of authentication features such as face recognition, password or pin protection, and even fingerprint.

The overwhelming number of apps designated for different needs and categories have completely revolutionized the lives of people. They have allowed people to connect with the rest of the world faster and effectively and this is the reason why the usage of mobile apps is on the rise. 

The uses of mobile banking

Gone are the days when you had to wait in enormous queues for your banking needs. The world is fast changing to digital means and so is banking. Mobile banking is the new trend where you can do all your transactions from your smartphone.

With the help of a banking app, you can easily withdraw and deposit money from anywhere in the world and keep a tab on your account details. As mobile banking continues to grow, it is incorporating even more features to benefit the users.

However, a large majority of people are yet to make the shift from physical banking to a banking app. Even people who engage in mobile banking are still unaware of all the features presented by the medium.

If you are contemplating the shift to mobile banking, here are the reasons why it is extremely useful!

Enhanced Security Features
All your account information is protected with passwords and other security verifications that make mobile banking an extremely safe option. You can use biometric data to secure your account as well. If you feel there is a security breach, you can remotely disable the banking app from your phone.

Easy Accessibility
With a banking app on your smartphone, you can access account information anytime, from anywhere across the globe. This feature makes mobile banking a far superior method than physical banking. You can also get all the services you desire almost instantly without having to waste time standing in queues outside your bank.

Easier Document Sharing and Feedback
With most mobile banking apps, you can share documents and your mobile screen with the bank officials. This way the representatives can review documents and give feedback in real time. Due to this, you can get guaranteed and quick support from the bank representatives anywhere, anytime.

Updates
It is not always possible to get information about new schemes and offers floated by your bank when you visit the bank. However, mobile banking provides a solution to this. With your banking app giving you regular updates about your account and best investment and saving options that are available, you can improve your finances drastically.

Free of Cost
The banking apps are free to download. In addition, the bank usually levies no fee for mobile banking.

Mobile banking is much easier than physical banking where you have to run from counter to counter to go about your business. It saves both time and money and allows you to access your account from any place with an internet connection.

4 benefits of paying bills online

Bill payments are necessary, but they can be difficult to handle. This is partly due to the hectic and time-consuming process involved with the clearance of the bills. Additionally, keeping track of the different bills for the various utilities can also become overwhelming. However, if you consider online bill payment options, the entire process becomes much more convenient and organized.

Here is a look at some of the benefits of online clearance of bills-

1. Saves time and effort
With the manual payment of bills, the consumer needs to visit the premises of the organization where the bill is due. This can be a time-consuming procedure, which your schedule may not allow. With online payment, you can clear your dues with just a few clicks or at the push of a button. The entire process takes only a few seconds and can be conducted through a phone or computer with internet access. Several bill payment apps are also available for increased convenience.

2. Saves paper
Offline bill payments usually require substantial use of paper. Furthermore, you need to keep track of every piece of paper, so that you do not miss any of the payments. Losing such bills is not only possible but probable. However, online bill payment tools help maintain a consistent record of all the bills, without the use of paper. For instance, your credit card bill payment can be initiated online based on the digital statement released by your bank.

3. Safety and security
While most people distrust the internet when it comes to payments, that mindset is rapidly changing. In fact, with SSL encryptions and other security measures in place, online bill payments may be the safest option today. With each passing day, the security for such transactions is only increasing. Therefore, bill payment apps offer a safe method for transactions, contrary to popular belief.

4. Organized bills and payment history
While offline bill payments can be a disorganized mess due to the huge amount of paper trails left behind, online process of bill clearance can be much simpler to keep track of. When you select online bill payment option, the companies start sending you the bills over emails, rather than a paper copy. These emails can be saved and maintained, separately.

Furthermore, you can schedule the bill payments through apps, so that the payment is made automatically on a fixed date. Online bill payment also offers the opportunity to pay the bills on the very last date, since the pay is remitted instantly.

Internet banking explained in 5 points

Internet banking has become the new revolution in banking worldwide. You do not need to visit a bank anymore or stand in long queues to get your finances in order. You can access your bank account from anywhere and conduct your banking activities with ease.

Yet a large number of people seem to be wary about internet banking. They fear they might click the wrong button or fall prey to the wrong information. The main reason behind this is the lack of expertise in internet banking. Therefore, here are five simple points which cover all there is to know about internet banking.

Types of Internet Banking

According to the Reserve Bank of India, there are three types of internet banking.

The information only system gives you general information, branch location, products, loan and deposit calculations etc.

The electronic information transfer system provides you specifics of your account like balance and statements that are protected using a password.
The electronic transactional system gives you full access to transfer and receive funds under sophisticated security and control systems.

The Services

Depending on the type of internet banking services your bank offers, you can do the following-

• Financial transactions- You can move funds to or from any account in any bank if you have the correct authorization. To move money to someone else’s account you need their account number, bank, and branch.

• Bill Payments- You can pay electricity bills, credit card bills, phone bills and a large number of other bills through internet banking. For regular bills with a fixed amount, you can set up standing instructions with the amount after registering the biller. The bank will automatically take care of your bill payment on the due date.

• Shopping- You can conveniently pay for online shopping and travel tickets through internet banking.

• Phone Recharge- You can recharge your phone’s balance by providing information such as the name of the operator, amount, and mobile number.

• Investments- You can invest in short and long-term deposit schemes of your bank through internet banking. You can also invest in the stocks with the help of your bank account.

Setting Up Your Account

The simple steps of setting up your internet banking account include-

• You must open an account with the bank of your choice if you do not already have one.
• The next step is enabling internet-banking facility on your account. There will be an option to do this on your bank’s website. You can also do this at the bank itself.
• Choose a username and a very secure password.
• Your phone and your e-mail id is the bank’s primary mode of contacting you. Therefore, recheck your contact information for errors.
• The bank may send you a confirmation e-mail, after which your internet banking account is good to go.

Using Internet Banking

Using internet banking is as simple as following instructions provided to you in a user-friendly manner. Every time you use your account, you have to log in with your username and password. Be sure to log out after use if you are using a public device.

Account Security

Keeping your account secure online is the biggest fear most people face. Here are a few tips that can help you keep your online transactions safe.
• Always check if the URL of the webpage you are using begins with ‘https’. Without the ‘s’, the webpage is not secure.
• Never share your pin with anyone.
• Never provide login information when your account login page opens from a redirect of a promotional mail.
• Regularly change the password.
• Use an authentic anti-virus on your device.
• Activate mobile updates and notifications that alert you of suspicious transactions or unsuccessful attempts of logging into your account.

With these basics of internet banking in mind, you too can use your bank account at your own leisure from the comforts of your home or office.

How to pay credit card bill

A stressful life along with the added responsibility of paying bills on time can take a toll on anyone. With the large number of bills, it gets difficult to keep a track of what is paid and what is not. For instance, forgetting to make credit card bill payment on time is an extremely common problem. This leads to unnecessary penalties and poor credit score.

Therefore, it is essential to organise all your payments and due dates, so you do not miss any payments. Although a bill payment app is the most popular ways to do this, here is a list the ways you can pay your credit card bill in a stress free manner.

Bill Payment App

An online bill payment app ensures timely payment of your credit card bills. You have to feed information such as your credit card details, contact details, service provider, bill amount to be paid and the bank account details from which you wish to pay. The entire process takes a couple of days to complete. So set payment reminders keeping a few days in hand. The app will regularly notify you to keep a track of your credit card bill payment.

NEFT (National Electronic Fund Transfer)

NEFT allows you to pay from your bank within the same day. The only thing is you must have online banking feature activated on your bank account. For credit card bill payment, you have to add the credit card number, issuing bank and IFSC code. You can also add the credit card in your list of payees and enter all details only a single time. For subsequent payments, all details will be saved for your convenience.

RTGS (Real Time Gross Settlement)

RTGS, like NEFT, allows transfer of funds in a single day. The advantage of RTGS over NEFT is it allows larger payments. You have to add the same information for bill payment through this method, as you did for NEFT.

ECS (Electronic Clearance System)

If you regularly use your credit card, you can opt for ECS payments. You have to arrange an ECS mandate at your bank and ask the credit card company to send an ECS request to your bank. Once you complete this, the credit card bills will be settled by your bank, automatically.

Standing Instruction to Your Bank

You can issue standing instructions to the bank where you have an account to make credit card bill payments in a timely manner. You can do it with minimum documents and verification process. You can ask the bank to either pay the minimum due amount or the entire amount as per your convenience.

Cheques

The traditional and convenient way of credit card bill payment is issuing a cheque with the credit card number as the payee. Usually a cheque takes 2 to 3 days to process, so it is wise to pay well in advance.

Cash

If you remember to your credit card bill at the last minute, cash is your best friend that allows instant clearance of dues.

With these credit card bill payment methods, never miss a due date. Although all card-issuing companies accept payment through these methods, it is always best to confirm with the card company before you choose a suitable payment method.