Banking needs are often subjective to individuals. For example, some prefer to get a comprehensive update of all their financial activities, while others want to check their savings account balance. Therefore, a mobile banking app satisfies all the requirements of existing and new customers. In addition, a customizable dashboard available on the app gives us one-stop access to let us know about our account balances and regularly used features like mutual fund investments, dues, and more. Nowadays, we can also apply for credit card applications through this platform.
Features Of A Mobile Banking App:
- Mobile banking apps give us rewards on our debit card, credit card, and UPI payments.
- It allows opening a zero balance account and does not ask for hidden charges and maintenance fees.
- We can save our money in an RBI-licensed bank account with industry-grade security.
- The app helps us control our VISA debit card, and we can freeze or unfreeze it with a single tap.
- Users get super-fast customer support, get quick answers in-app, or connect to their team members within a few minutes.
- We can upgrade our savings bank account to a salary account with the help of the online mobile banking platform to reap higher rewards.
Benefits Of Using A Digital Banking App:
Quick Account Opening:
We can easily open a mobile banking account with some easy steps, and those are:
- Receive an invitation from an existing customer or download the application
- Next, complete the online registration and login to get access.
- Enter your Aadhaar-linked mobile number and email id.
- Submit all the necessary documents online, and without any need for any paperwork.
- Finally, complete your KYC verification and start using online banking.
➤Get Rewards On Every Transaction:
- The online banking platform usually rewards domestic spending by using the debit card, UPI, net banking, etc.
- We get instant credits of our rewards in our bank account, and we can also redeem a gift voucher with a tap.
➤Fulfill Your Financial Goals:
- The app helps us to create various pots for our financial goals.
- We can put in as much money as we want according to our convenience.
- A digital banking app comes with no restrictions; therefore, we can withdraw cash at any time.
➤Check Balance & Credit Score:
- We can track balances across multiple bank accounts with the help of a single platform.
- It allows us to see the breakdown of all our spending every month through the spending analytics feature available on the app.
- We get to know our credit score before applying for any personal loan.
- We can track mutual funds through the app.
➤Use A Single UPI ID:
- A mobile banking app allows us to instantly link all our bank accounts to their platform using a single UPI ID.
- We can easily make all the transactions, bill payments, and transfer from one account to another with the help of a banking app.
➤Safety & Security:
- Our mobile banking account is mainly associated with an RBI-licensed bank. Therefore, we get top-notch safety and security.
- We can get insurance up to five lakhs and all of that with the convenience of the app.
An online banking application, also known as a UPI bank, has a simple and user-friendly interface with various cutting-edge features and services that satisfies our everyday banking needs. The latest version of any mobile app allows us to get our digital savings account and run from anywhere with multiple benefits, including video-based KYC, instantly issued virtual debit card, etc.