We use a mobile banking application because of its cutting-edge features and services. These apps are safe, secure, user-friendly, and satisfying more than just our regular banking queries. For example, we can now open a bank account quickly and track all bank balances using a digital banking app like yono. It is an innovative new way to manage funds without visiting a physical branch.
These online banking platforms do not ask for hidden or unnecessary charges. With the help of these apps, we usually open bank account that comes with zero fees for signing up and zero Forex fee. We also do not need to pay any fees for opening or to maintain our savings account and get a Debit Card. They only charge transparent fees on ATM withdrawals and demand drafts.
How To Open An Online Banking Account?
Presently, paperwork is not required to open a mobile banking account. We need to follow a few simple steps, and those are:
- Accept an invitation from an existing user or sign up to get access.
- Download the mobile banking application.
- Next, enter your Aadhaar-linked mobile number
- Complete the KYC process and document verification online.
Advantages Of Using A Digital Banking App:
- With the help of an online payments bank, we can create our financial goals and put in as much money as we want. These apps come with no restrictions, and therefore we can withdraw money anytime.
- Customers can track balances across multiple bank accounts from a single screen and see the breakdown of their spending every month. They can also track mutual funds, loans, and credit scores in one place.
- A mobile banking app allows us to get our digital savings to account with services such as video-based KYC that we can set up at our convenience. They instantly issue a virtual Debit Card linked to our digital savings account. We also enjoy various offers on our savings account.
- We get a customizable dashboard on our mobile banking app with the explore tab that allows us one-stop access to our account balances and regularly used features like mutual fund investments, dues, etc.
- These online banking apps allow us to set up a cross-platform security code that can help us validate fund transfers from our savings account and transactions on the app. The passcode also helps us authenticate Debit or Credit Card payments and log in to internet banking.
- We get a Unified Payment Interface in the mobile banking app to scan & pay instantly, as well as make our own UPI QR Code. Additionally, we can find a record of transactions, saving account summaries, and card statements by using an online platform.
- An internet banking app allows us to open FD, RD, and Demat accounts. It also gives access to other essential services like loan account statements, Forex, Stock trading, Mutual Funds details, and converting our Credit Card dues into EMI.
Banking needs are often subjective to individuals. Some people prefer to get a comprehensive update of all their financial activities, while others wish to check their savings account balance. A digital banking app plays a significant role in fulfilling all customers’ needs. It provides best-in-class services and discounts on various brands across lifestyle, travel, entertainment, etc.