Mobile phones have revolutionised the way we carry out many duties in our everyday lives as a result of technological improvements. Banking is one of the tasks that mobile phones have simplified.
However, if you're still stuck with the fundamentals of mobile banking, here are some additional capabilities that will allow you to do a lot more with your account.
1. Managing your accounts
Mobile banking provides you with real-time account information. You can do the following:
Get information on your bank account, fixed deposits, and credit cards with the bank.
You may always check your balance, transaction history, and other account-related information.
Payment receipts may be downloaded and shared with relatives and friends. It helps you to detect any flaws or discrepancies more quickly, allowing for speedier correction.
2. Payment of bills
There is no longer any need to write checks. Whether it's a credit card, an energy bill, or a phone bill, you can pay them all in a flash from the palm of your hand.
Directly from the main page, you may see your bill payment history, pending payments, and cancel payments.
Using the Mobile Banking app, set up automatic bill payments and pay them with a single click.
3. Transfer of funds
Using your app, quickly transfer money to another account in the same bank or to another bank using the NEFT/RTGS or IMPS service.
With the 'Share' and 'Download' buttons, you may share your transfer receipts on social media.
Directly apply for loans, credit cards, and other financial products.
4. Make a task list
Certain financial operations, such as EMI and bill payments, must be completed on time to avoid penalties. If you have a propensity of forgetting things, mobile banking might help you keep track of your responsibilities.
Make a task list of all your banking responsibilities, or add them to the app's 'Favorites' area to keep track of frequently transacted goods. This might assist you in banking more quickly.
5. Safety and security
Mobile banking is safer than you would think.
It uses a two-factor authentication system that includes a user ID and password, as well as an OTP emailed to your registered cellphone number.
For each financial transaction, you will get an email confirmation.
It, like your phone, employs facial ID and fingerprint access, making it easy and safe since only you have access to the account.
Other features include 24-hour access to your account, safe and secure transactions, fast alerts and notifications, and an ATM/branch locator, among others.
The greatest thing is that it's absolutely safe — no personal information is saved on your phone or SIM card. As a result, in the event that the phone is lost, the data will not be taken. You can check your account balance, pay bills, transfer cash, and make credit card payments using MobileBanking from anywhere, at any time.
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