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How Can a Mobile Banking App Help You Manage Your Account?

With growing mobile Internet penetration and over a billion mobile users, India has become one of the fastest-growing mobile Internet markets across the globe. People spend about 93 percent of online time on mobile phones, and they download and use various apps for the purpose. A mobile finance app is one among them, and it has revolutionized the banking industry by helping the user perform all financial transactions online, without any need to go to the bank.

You can perform banking activities 24/7 with no need of paperwork and restriction of banking hours. All you need is a smartphone with the Internet connection. With almost all banks going digital, it makes it easy for you to manage your money online. How could you do it? With an effective banking app like that of IDFC FIRST Bank mobile app, you can take care of your bank account in a number of ways. 

Helps open a zero balance savings account

The electronic know-your-customer process has enabled IDFC FIRST Bank offer its customers online account opening facility on a mobile app. You need to provide your full name, mobile number, email address and city to start with. It also requires you to fill in some personal information like your residential address, date of birth, PAN and Aadhaar details and occupation status, and upload the copies of PAN Card and Aadhaar Card for verification.

After the eKYC verification, your zero balance savings account is ready to use. You can transfer funds to the account and earn several benefits like competitive interest and free fund transfers and general banking services.

Initiate bill payments

With a IDFC FIRST Bank mobile banking app, you can pay your utility and credit card bills on time. Other than offering the flexibility of quick one-time payments, a bank net banking app also gives reminders of the bills that are due and notifications of bills paid or don’t get paid. You can choose to pay your utility bills, insurance premiums, tax bills, credit card bills and subscriptions from anywhere and at any time. 

Cashless money transfer

You can transfer funds between accounts and manage your accounts on the IDFC FIRST Bank banking app. Other than transferring money to different accounts in the same bank, the app also allows you to move funds between other bank account by linking them at one place. It can be done using NEFT, IMPS and RTGS by adding a beneficiary’s name and scheduling it. A mobile finance app also offers quick funds transfer through a UPI payment app by creating a unique UPI address. 

Helps with investment of money

One of the best features of the IDFC FIRST Bank’s online banking app is the investment solutions it offers. You can choose to invest in mutual funds, sovereign gold bonds and unit-linked insurance plans. This helps you grow your savings without any worries.

Monitor your bank account 

With this banking app, you can track debit and credit transactions in your account either daily or weekly. This helps you know the amount you spend in meeting various expenses, and keep a check on the same by reducing or avoiding some of them. It also lets you know the bank charges, interest and fees paid every month or year. 

A mobile banking app has come a long way that it will turn out to be an indispensable financial tool in the future.