How does a mobile banking application improve your banking experience?

Financial institutions have now incorporated digital advancements to their banking services so that their customers can conduct all of their banking activities easily. Today, you can simply make use of a mobile banking application on your smartphone to complete your financial transactions. Read on to understand ways in which banking applications benefit you –

Rely on a high level of security

A mobile banking service is one of the important facilities offered by financial institutions. This platform includes a high level of security to protect its users’ information. Usually, banks use encryption devices to make sure that all your details are protected and there are no security breaches. This ultimately ensures protection from account hacking and online fraud.

Get easy access to banking

Even if it is your last day of your bill payment date, you can immediately clear the bill via online banking to avoid a penalty. Online transactions may be performed at any time from the comfort of your home. Also, instead of being physically present at the bank for financial transactions, you can safely transfer the funds at any time, with no hassles using the mobile or net banking app.

Enjoy zero charges for using a mobile banking app

If you worried about facing a charge for accessing mobile banking, don’t be! There are zero hidden charges for using mobile banking services. However, do keep in mind that in the case of online transfers that go beyond a certain limit, you may be charged a nominal fee. 

Complete multiple banking tasks

With mobile banking offered by most financial institutions, payment of bills, transfer of funds, opening of fixed deposit or recurring deposit accounts, as well as making mutual fund investments, all have become simple. You can conduct all such banking activities using your mobile app from anywhere at any time. Additionally, you can even check your account balance using the app before making purchases. 

Track bank accounts with convenience

Lastly, managing and budgeting your account is way simpler through online banking as all the details linked with your transactions are available on this app. All your real-time expenditures can be easily monitored while making transactions or estimating your monthly expenses and savings. With all such advantages, it is tough to not opt for this beneficial facility for a smooth banking experience.

What are the special banking features offered by a mobile banking app?

Each financial institution offers its own mobile banking app. These apps would have varying features and benefits that you can choose from. For instance, the IDFC FIRST Bank mobile banking app offers the following features:

• Provision to open a savings bank account in 3 simple steps.
• Provision to add funds from your other bank account to your IDFC FIRST bank account.
• Option to apply for an instant personal loan in times of financial emergency.
• 24/7 availability of online transfer facilities – RTGS, NEFT and IMPS.
• Provision to open a deposit account instantly and earn a high-interest amount on the same.

With so many advantages offered by a mobile banking app, using one can prove to be quite convenient. There is no need of visiting the bank as often with such apps around, saving a lot of your time and effort.