October 3, 2022
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Finance

A Mobile Banking Platform’s Role In Making Quick Investments

 

A convenient, safe & secure mobile banking app is the one-stop solution for those who are always banking on the go. It is beneficial for instant fund transfer, bill payment, online recharge, and, most importantly, managing multiple accounts using a single platform. Therefore, we can now easily access our personal and business bank accounts securely from the comfort of our homes. Many people indulge in mobile banking platforms to get customized alerts, quick access, a dashboard, multiple card management features, an investment tracker, etc.

Excellent Services A Mobile Banking App Offers:

  • We can shop, pay bills, manage our credit or debit cards, invest, and do much more with just a few clicks.
  • It helps us check our savings bank account balance and get a dream different image debit card or credit card.
  • We can request a cheque book, open a term deposit, and transfer funds using BHIM UPI, IMPS, or NEFT.
  • Now, it is very simple to regenerate PINs and switch credit cards on or off with the help of a UPI payment app.
  • It helps us recharge mobile phones, DTH subscriptions, FASTag, and pay all the utility bills with the BillPay option.
  • We can easily open a zero-balance account with no penalties for not maintaining a minimum balance. Furthermore, a mobile banking app allows us to avail of instant personal loan insurance and purchase or redeem mutual funds.
  • Anyone can book train, flight, or bus tickets, hotel rooms, cabs, and shop for various grocery or electronics products from an e-commerce platform.
  • We can choose the ‘Pay Your Contact’ option available on the app to pay beneficiaries with just a phone number. 
  • Users can easily open and manage fixed deposit and recurring deposit accounts and also track their previous investments by using the investment tracker available on the virtual platform. 
  • Currently, most online banking apps like YONO SBI have their own securities platform. Therefore, it allows users to open a Demat account and start their stock trading journey instantly.

How To Start Using An Online Banking Platform?

Today, completing the sign-up process on the app is not difficult. We only need a few bank account details, such as our credit or debit card PIN and internet banking password. Most importantly, we must go through a one-time activation process when logging in. It is also very easy to get our very own credit card just by following three quick steps below:

  1. Open a digital savings bank account
  2. Next, book a fixed deposit of a minimum amount mentioned on the app
  3. Apply for a free credit card against an online fixed deposit

Presently, most apps give us chat support and provide other essential services. Some benefits include downloading the e-TDS certificate, updating the customers’ Aadhaar details, applying for instant loans and credit cards, opening savings accounts, buying a new insurance policy, and more. Additionally, customers can now chat with the chatbot available online banking app at any time for instant solutions. The chatbot can accept text input and listen to voice input when users tap on the microphone in the English language.