When was the last time you used cash to pay for your everyday expenses? Your cashless banking eco-system of credit cards, debit cards, mobile apps, and Internet Banking takes care of everything from your commute to and from work, to movie tickets, dining out, and completing your grocery. You keep forgetting to take out cash because you handle most of your bills without it.. You may get by with a single Rs 1000 withdrawal for days on end. You're stuck in a rut since you're out of money and don't have a new chequebook. When you have to leave your virtual banking world, it may be a real pain. When you owe money to an electrician or plumber, this is the most common scenario. When it comes to money, you're fed up with the time and effort required. After getting your landlord to download Bank's Mobile app and giving him the monthly rent via IMPS, you only withdraw cash to pay your housekeeper. Demonetization and Covid 19 make it difficult to pay her rent on time every month. You pondered wiring money, but she doesn't have a bank account, making things a little more complicated. But what about this month? You insist on opening one for her and performing all the bank stuff, but what about this month. In your spare time, what are you doing? Your online banking ecosystem is listening, but are they really?
It's not unusual for people to find themselves in a predicament like yours right now. Instant Money Transfer (IMT) is a great tool for dealing with this. To get started, all you need is the mobile number of your housekeeper, which you can use for a one-time registration. Afterwards, you may email her the money, as well as the information on when she can withdraw it, as well as the sender's code, which should be kept secret until she uses it. To withdraw the money, she only needs these data and a debit card from any Bank ATM, thus she doesn't even need a bank account. And once again, your online banking universe comes to your rescue!
To be clear, you should urge your domestic assistance to create a bank account. It comes in handy when money is tight.
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