Top Mobile Banking Apps You Should Use

Mobile banking is an offshoot of internet banking. It made its foray into the Indian economic scene way back in 2002. Till then bank transactions through your phone simply meant SMS banking. You can carry out every possible bank and financial transaction through mobile banking. It eliminates not only the need to visit a brick and mortar bank branch but also you do not have to own a computer or a laptop to experience internet banking.

ICICI Bank was the first bank in India to introduce mobile banking and today every nationalized Indian bank gives you the facility of mobile banking. Here are four top-notch mobile banking apps in India-

1. HDFC Bank Mobile Application:

This app allows all HDFC account holders to go over their account details and transaction history. You can pay your bills and make credit card payments. You can customize the My Menu tab and this will display the most commonly used services. You can also download the Hindi version of this app, which is also available in a LITE version. 

2. Axis bank’s Axis Mobile Application

It allows its account holders to carry out a volley of functions and services. You can avail of the usual services like funds transfer and checking your account information. Additional services include scheduling a credit payment for a date that suits you, converting credit card payments to EMIs, deactivating debit cards, setting a cap on debit card payments or block a credit card. This app allows you to create a Favourite List that features 10 of your most frequent transactions. This app will also direct you to customer care services. 

3. DBS Bank’s Digibank app

This app too offers all the usual array of banking services that you can avail of from the comfort of your home. Its chief attraction lies in the fact that it offers ironclad security. Therefore, you need not worry about data theft. Another good thing about this app is that it is very user-friendly and hassle-free. One time passwords and security tokens are bypassed. Moreover, the app uses automatic authentication to keep all your banking data safe.

4. SBI Anywhere Personal Application

Anywhere Personal is just one of the many internet banking apps on offer from SBI. This app is available in both English and Hindi. You get updates on your balance sheet, and you can access deposits and withdrawals and look at your bank details with your mPassbook. Its mCash feature lets you send cash to a mobile number or e-mail id. You can also pay bills and premium for your life insurance policy through this app.

Mobile banking apps have ushered in a new technological era in India and have benefitted millions by allowing them to carry out banking transactions without on the go or from the comfort of their homes. You should definitely try these banking apps if you have not done so until now.

5 Reasons Why Online Banking Is Important Today

Online banking has become a common phenomenon. You can check your account regularly, pay bills on time, transfer funds with ease, open an account and much more. Almost every bank offers the facility. It has become easier and convenient to manage our finances. You can also get your queries answered online as banks have a unique system for the same. Precisely why the banking industry is soaring to new heights every day.

Some reasons why online banking is on the rise today are: 

• Protection: One of the preconceived notions regarding internet banking is security. We tend to conduct online transactions with the help of a data, be it at home or away. And sometimes in public places as well. So, the public WiFi can assist the fraudsters to lift your banking details easily. In order to do away with such mishaps, banks have incorporated certain safety measures in place such as the one-time password. It helps the websites to identify the user. 

• Accessibility: One of the major reasons why people are heavily relying on banking online is because of its easy access. Be it home or work or travel, you can bank at your fingertips. You need a stable data connection, and you can enjoy all sorts of banking services. Also, users need not stay in front of their computers to conduct any transaction. Thanks to mobile banking apps, you can bank anywhere and everywhere. 

• Hidden charges: The best part about banking online is that it is free of cost. You only require a bank account and customer ID and password for internet banking. You can move funds from one account to the other without paying any penalty. However, SMS alerts do incur a small fee. You can neglect the same as the bank notifies you via e-mail. 

• Convenience: Online banking is highly convenient. You can eliminate long standing Moreover, there is a mobile banking option offered by almost every bank nowadays. You can check your balance on the go before making any last-minute purchase. 

• Monitoring account: You also have the benefit of checking multiple accounts. You can access real-time expenses which enable you to arrive at an estimated monthly budget. In fact, tracking your account on a frequent basis will deny any misdealing as banks cannot look after every account manually.

With so many benefits at the offing, it is difficult to opt out of the online banking facility. Make way for smoother transactions!