Download
1 / 5
50 likes | 58 Views
The way the banking sector works was changed by the technological revolution of the 2000s. Before that, you had to visit the bank building physically to carry out a transaction, thanks to the net banking services, you donu2019t need to leave your home to visit the bank. All you need is an electronic device that is connected to the internet.
E N D
The way the banking sector works was changed by the technological revolution of the 2000s. Before that, you had to visit the bank building physically to carry out a transaction, thanks to the net banking services, you don’t need to leave your home to visit the bank. All you need is an electronic device that is connected to the internet. However, nowadays, you don’t even need a computer screen to carry out banking transactions. A smartphone connected to the internet is more than enough. With a digital banking app, you can do things like open new account online. Apart from opening an account, you can also do activities that are mentioned below:
1. Leave instructions for automatic deductions: • Amongst the best facilities of a digital banking app is the feature of leaving standing instructions. As per this feature, you have to add a request on the banking app to automatically deduct a certain sum of money from your account for a specific purpose. For example, you invest ₹2,000 every month in mutual funds. So, instead of logging into your account every month, you could add an instruction on the app for automatic deduction of the said amount every month. This feature ensures that your utilities are paid on time even if you forgot to pay manually. • 2. Get customised financial statements: • Another fantastic feature of a digital banking app is that you can get an account statement of your expenditure and that too with a customisable date range. Before net banking, one of the ways you were able to acquire an account statement was to update the passbook. Getting the expenditures recorded in the passbook time and if you did not update over a considerable time, you had to wait for a long until all the expenditures were recorded. Conversely, with a digital banking app, you can acquire the account statement in just a few minutes. Moreover, you can even customise the date range of the account statement. For example, you want to know your expenditures between July and December, you can select the said date range on the banking app and get the record accordingly.
3. Acquiring credit cards and paying their bills: • While you may think that you can only pay credit card bills with the help of a banking app, you couldn’t be farther from the truth. Apart from paying for the credit card bill, you can also send an application to acquire one. Moreover, the process of sending an application is also pretty easy.
4. Invest in the market: • Opting for a digital banking app will also help you with investing in the stock market. Apart from helping you with stock market investments, it can also help you with opening a Demat account. Apart from that, you can also invest in other things like pension schemes, gold bonds, mutual funds and many more. • Please keep in mind that apart from the four mentioned above, there are several other things you can do by installing a digital banking app on your smartphone. In case you have doubts, please contact a bank of your choice. Hopefully found this article an enjoyable read.
