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Here is what you need to remember about Internet Banking

As Covid-19 started spreading across the world, people were forced to adapt to working from home. This was done to keep people safe and healthy. Unless it was something urgent, it was advisable to avoid getting out of one’s home. So, to adapt to changing times, even banking moved online. While you may think that for internet banking, you need to exclusively sit in front of the computer, nowadays, you can carry out your transactions on the banking app.

Very convenient to use, banking apps can be found very easily on the internet. Whatever may be your requirement and the urgency of your task, internet banking will complete it in a matter of seconds. But there are a five things you need to remember about internet banking. They are:

1. You don’t need to visit the bank physically:

One of the first things you need to remember about internet banking is that you can carry out your business with the bank from the comfort of your home. While there was a time when you needed to visit the bank for every little thing, the rise of the internet made it easy for account holders. Moreover, thanks to technological advancements you can opt to carry out banking transactions on a smartphone that is connected to internet. All you need to do is install the banking app.

2. You can open accounts:

Another thing you can do by installing the banking app on your smartphone is open accounts. If so if you want to open zero balance account or opt for premium banking you could very well do it. While you can choose to do these things the old-fashioned way, i.e. visiting the bank physically, you could also choose to complete the procedure on the banking app. Completing the process online is pretty easy that involves steps like filling out the application form and submitting documents to the bank as proof. The procedure that took approximately an hour physically is over in a matter of minutes through internet banking.

3. You can use them for making all kinds of payments:

While Mobile Banking App have been frequently used for making payments for expensive things, in actuality, you can use them for paying for something that costs below ₹100. Imagine this scenario. You are in the medical store and are shopping for a medicine that costs ₹65. So, for payment, instead of struggling to find the cash, you can simply open the app, scan the QR code and pay the store. This entire procedure is over in just under a minute. This feature is one of the main allures of these apps.

Original Content - Here is what you need to remember about internet banking

#premium banking

Here is what you could do with a Digital Account Opening App

Net banking services have made it easy for account holders to transact with the bank as the pandemic continues to spread across the world. One of the reasons why you should consider installing and signing up for a digital account opening app is that you don’t need to physically visit the bank. Whatever may be the function that needs to be completed, you can finish it in a matter of seconds on the smartphone which is connected to the internet. Opting for a net banking service keeps you safe during these trying times.

If you think that there are some kind of restrictions on banking functions on a digital account opening app, don’t worry, there aren’t any restrictions. All the functions that you are accessible through physical banking are available on the banking app too. Here are some of the things you can do with your digital account opening app:

1. Open the account:

While you still have the option to open the account by visiting the bank physically, opting to carry out this function on the digital account opening app saves time. To open your account, you first need to ensure that the banking app is there on the smartphone. Once the app is installed, please click on the option to the application form. On the form, you need to provide details like your name, age, home address, and phone number. Once you have provided details, please ensure to upload the soft copy of the documents that will verify the information provided on the form. If the information on the form and documents is accurate, the bank will accept your application and your KYC bank account will be activated by the bank.

2. Acquire customizable records:

If you have an account in a bank you need to get an account statement. Acquiring them lets you keep track of your expenses. Before net banking, to get a statement, you had to visit the bank physically and then update your passbook. This procedure took time as recording all the expenses on the passbook took time. Conversely, on banking apps, you can easily get the statement in just a few minutes. Moreover, you also even have the option of modifying the date range you want the statement for. For example, you have applied for a loan and the lending agency wants an account statement for six months. So, you could open the banking app and click on the option to download the account statement and then set the date range to six months. After that, please proceed to click on the download option and that’s it. You will get your account statement in a minute.

3. Pay for traveling expenses:

It is a major misconception amongst people that a digital account opening app can be used only for banking purposes. However, the fact is that you can use it for urgent and leisurely transactions. So, if you are on a vacation, you can use the banking app to pay for purchasing souvenirs and also book flights and hotels. Original Content: Here is what you could do with a Digital Account Opening App

#book flights and hotels

These are the 5 Steps for Opening your Account through Secure Net Banking

The basic idea behind net banking is that the account holder doesn’t need to leave their homes for the purpose of banking. All that you need to have for secure net banking is an electronic device and an internet connection. If you are wondering there are any restrictions on the services on net banking apps, don’t worry, there aren’t any. All the services that are accessible through physical banking are also available on net banking. Moreover, your banking functions are completed in just a few minutes through secure net banking.

However, if you want to access the features provided by the net banking services, you need to have an account in the bank. If you don’t have an account, you open it. The procedure will be completed in approximately 45 to 60 minutes when you opt for the offline method. Conversely, it can be completed within 30 minutes through secure net banking.

1. Search for the banking app:

The first step in opening your savings account through secure net banking is to download and install the banking app which can be easily found on the play store. The first thing you need to do is to click on the play store on your smartphone. Then, type the name of the banking app on the search tab. After finding it, press the button that lets you install the app on your phone. After the installation is complete, please proceed to the next step which is:

2. Fill out the form:

Once you have installed the app on your phone, please open the banking app and click on the option that will take you to the application form for a free mobile banking account. On the form, you need to add details like your name, home address, age, phone number and many more. Accompanying it should be documents that will verify the details you provided on the form.

3. Submit documents for verification:

This is the deciding factor in the process of opening an account on a secure net banking app. While submitting please ensure that the details on the form match those on the documents. If the details on both the documents and form match, your application for opening the account is accepted. If you are wondering how to submit the documents, you can upload them on the app.

Original Content - These are the 5 Steps for Opening your Account through Secure Net Banking

#banking app

Why use an Account Opening App?

Nowadays, any work regardless of its difficulty can be carried out with the help of an application on the Android/iOS store. All that is required is an internet connection and a smartphone connected to it. After the digital revolution that led to the existence of websites accessible from computer screens, mobile phone applications feel like a logical step in the technological evolution.

The rise of smartphone applications changed the game of several industries and the banking sector is one of them. If there is an urgent transaction and you are not close to a computer, all you need is to take out the phone and activate the account opening app. Apart from speedy transactions, there are other reasons to use bank apps. Listed below are four:

1. They are easy to use:

Banking is one of the aspects of life that has been simplified by smartphone apps. Today, all you need to do is activate the icon of the application and the rest is easy. Imagine being en route to your office and suddenly you remember that today’s the day to pay the rent. Instead of paying your landlord after getting access to a computer, you can just click on the app and transfer the money to your landlord’s account. Other banking-related actions such as saving account opening and keeping track of your transactions are also made easy by smartphone apps.

2. They can be used for non-banking purposes too:

The usage of an account opening app is not simply restricted for banking-related reasons. You can use it for other reasons too. For example, you feel hungry right in the middle of a workday and order food. You do not need to wait for the order to arrive to pay the individual in cash. Also, these applications can be used to open a Demat account, which can be used for stock market investment. Moreover, you can also put your money in mutual funds with the help of these banking apps.

Original Content - Why use an Account Opening App?

#mutual funds

Here is why you should use Digital Banking

E-banking is a type of transaction where you do not need to visit the bank physically to carry out your transaction. Also referred to as digital banking, you can pay or receive money by using the computer or your cell phone.

The digital era has completely changed the way how day-to-day activities are carried out. One of the things that changed is banking. Instead of visiting the bank physically, you can just take out your phone and complete an urgent transaction, making banking easier. Apart from convenience, if you are searching for more reasons, listed below are a few of them:

1. It is time-preserving:

When you run a google search for “open bank account”, you will see a list of banks that provide digital banking services. One common factor with all of them would be the fact that they would help you save time. It is especially prudent to use e-banking during urgent transactions. Consider this scenario, you need to give money to your friend urgently, but you are on a local train. If you have a mobile banking account, all you need to do is take out your phone and transfer money. Another thing you need to keep in mind while visiting a bank is the queue present. Usually, in the mornings, there are long queues. However, with e-banking, you avoid long queues. All that’s needed are the account details of the receiving party. Your money transfer is completed in a couple of minutes.

2. Great for keeping track of expenses:

By not opting for a digital banking service, you have to make sure to update your passbook regularly so that you can keep a check on your expenses for the month. That process takes time and sometimes if you have not updated the passbook in a long time, it will take a longer time to complete. On the other hand, with e-banking, all you need is a device and voila, you have uninterrupted access to your monthly expenditure.

3. Details are saved:

Consider this scenario, you get the payment slip at the bank and you suddenly forget the account number you are supposed to transfer to. So, to complete the process, you either need to call the individual to learn their account number. However, the opposite is the case in e-banking services. When you log into your account, select the account you want to transfer to. The maintenance of records is a foremost feature in digital banking services as you do not need to bother yourself with remembering account numbers.

4. Special discounts:

Shopping is another aspect that was changed with the digital revolution. Several banking apps offer shopping discounts. Consider this scenario: you are planning a birthday party for a colleague and need a cake. Upon opening the app, you find out that shopping for cake will make you eligible for special discounts too. This is a feature that is known for attracting shopaholics.

It is important to remember that apart from the four mentioned above, there are many more reasons why you should open a mobile banking account. To get more information, please visit the nearest branch.

Original Content - Here is why you should use Digital Banking

#open bank account

Here’s what you could do with online banking

E-banking is a type of banking where you don’t need to visit the bank physically and carry out your business with the help of a computer or a mobile phone. This aspect of online banking proved extremely useful as staying at home orders and lockdowns became the norm. Carrying out banking transactions from home proved to be safe and secure as the pandemic surged across the world.

Extremely convenient to use, e-banking is one of the best services provided by banks today. Used regularly for payment, virtual banking is handy for other types of activities too. Listed below are five of them:

1. You can open accounts:

Nowadays, you can use smartphone apps to not just carry out financial transactions but also for opening accounts. Through online banking services, all you need to do is to open the app on your phone, fill the form with your personal information and along with it, submit the documents to verify your information. Once this step is completed, you will get your account and after that, you could log in to your account and start using it.

2. You can complete the KYC process too:

The KYC (know your customer) process is a mandatory process where the bank confirms your identity. While the process takes approximately 30 to 60 minutes when you have not signed up for e-banking services, this procedure is quicker on a smartphone app. All that needs to be done is to open the KYC mobile app and upload the photograph of the necessary documents.

Original Content - Here’s what you could do with online banking

#KYC mobile app

Here are 5 reasons why you should go for a Zero Balance Account

If you are avoiding your savings account opening plans just because you think that it's going to be heavy on your pocket, then a zero balance savings account is the right choice for you. As the name suggests, a zero balance account is the type of account where you do not have to keep any minimum balance. This means you can use all the banking services even if you are not keeping a minimum balance every month. Before you get started with your zero minimum balance account, here are some of the benefits you must know.

1. The way to open your account is easy and fast

It's just a couple of easy steps that you need to complete to get your account opened. Some of the premium banks also provide you with an account opening app to make the process even easier. You can complete the entire verification process while relaxing back in your comfortable space and let the account opening app do the needful. All you need to do is keep your Aadhaar Card and the PAN card handy and follow the instructions. In a couple of minutes, you will have your new bank account all ready to serve your day-to-day financial transaction needs.

2. You can transfer your money with ease

While you have a zero balance savings account, you can send money to another account with ease. No charges are applied when you transfer money through your zero balance account keeping you free from unnecessary spending. Alongside, ranges of facilities are available to you for transferring money. You can use online banking and mobile banking facilities to get your money transferred hassle-free.

3. No charges are levied while your balance stays at zero

It is not always possible to keep uniform balances in your account. The balance will keep fluctuating, depending on your financial needs. However, most of the banks these days offer you a savings account with a minimum balance to be maintained. The moment your balance falls beyond that, you are often charged heavily. This is not the case with a zero balance account. Even if your balance falls to zero, you will not be charged any penalties. Original Content - Here are 5 reasons why you should go for a Zero Balance Account

#zero balance savings account

5 Features that you should check for in a Digital Banking App

Mobile banking is a type where you carry out your banking activities on a smartphone that is connected to the internet. Moreover, when you have opted for phone banking services, you do not even have to visit the bank physically. You can finish the transaction just by opening your smartphone app.

Banking applications have made things very easy for both banks and users in this era of global crises. As lockdowns became the norm for people around the world, they were pushed to look for new ways to continue their banking transactions. But, it is not enough that a bank should have an app on the play store, it should also have some facilities. Here are five features that you should check for in a digital banking app.

1. They are easily accessible:

Banking apps have made the act of banking extremely portable as they can be installed on the phone. Available on all the platforms i.e. the android store and iOS, a digital banking app can be installed on all phones. So, if you are connected to the internet, you can open the app store on your phone and download the application. Compatibility is never an issue when it comes to banking applications.

2. You can open an account instantly:

If you want to open an account in a bank nowadays, all you need to do is to connect your phone to the internet and open the digital account opening app. Later, you need to open the form that you will need to fill. In this form, you will need to add your personal information and contact details. With this form, you will also need to submit documents that would verify your identity. Running a search for “open zero balance account” will also give you a list of reliable banks from which you can choose the one that suits you the best.

3. Pay for all transactions:

Another great feature of a banking application is that it is useful to pay for both expensive and cheap things. There is nothing you cannot pay for with a digital banking app. For example, you are in a hurry and cannot afford to wait in the queue to buy a ticket. So, what you can do is book the ticket online and pay for it using the banking app. Original Content - 5 Features that you should check for in a Digital Banking App

#open zero balance account

4 ways to use UPI

A unified payments interface (UPI) is a method of payment where you could carry out your business through the phone. Easy and quick to use, these phone applications made things simpler as the pandemic hit the world and people could not visit the bank physically. If you opt for an UPI app, you can do a wide range of things like paying, receiving money, checking your account balance and sometimes even activating bank accounts.

You may be wondering how exactly one utilizes the UPI app. Well, these applications are useful for all kinds of payments. Be it shopping or sending money, the apps are used for all. Here are four specific ways you can use unified payments interface apps:

1. They can be used for shopping:

These apps have struck a huge chord with shopaholics as they not only make payments easier but also offer appealing rewards. For instance, you are in the mall and are shopping for new clothes. As you reach the billing counter you learn that the cash you are carrying is not enough and the card swap machine is not functioning. To get out of such situations, you could use your bank’s UPI app. Moreover, after paying, you might also get some of the cashback as a reward.

2. You can use them for recharge:

One of the appealing features of banking apps is that they are useful for paying for both big and small transactions. You can use the app for paying for something that costs as high as ₹6000 and something as affordable as ₹40. Imagine you want to recharge your mobile phone and you do not have enough cash. So, to pay for your recharge, you can open the app and either search for the vendor or even better, scan the QR code.

3. They are useful for paying for utilities:

UPI promises users convenient transactions and that’s what it delivers. Moreover, you can add standing instructions on the app in which a specific amount will be deducted on a specified date of the month. This is extremely convenient for utilities bill payment. So, if you sign up for a banking application and leave a standing instruction to pay for the rent on the first day of every month, a certain sum will be deducted on the said day.

Original Content - 4 ways to use UPI

#utilities bill payment

4 things you can do with secure Net Banking

Net banking is a type of banking when you carry out your banking on an electronic device like a smartphone or a computer screen that is connected to the internet. It promises faster transactions and even convenience as you do not need to go to the bank. While it was used by many before 2020, the pandemic made people look for new ways for banking as they could not visit it physically. This ensured that people were safe and took care of their finances from the comfort of their homes.

Often used regularly for shopping, you can use secure net banking for a wide range of banking activities. You can also log into your net banking account for other activities such as paying your bills and keeping track of expenditures. If you want to know more, keep reading as listed below are the four things you can do with a net banking account:

1. Procure customisable account statements:

An account statement lists out your debits or credits over time. For that, earlier, you had to update your passbook that would print every transaction. If you had not updated your passbook for two months, then, you had to wait for the process to be completed as listing out all the transactions for two months takes time. The longer the time you did not update the passbook, the longer the process takes to finish. But, that is not the case with net banking as you could also customise the date range.

2. Pay for small transactions too:

With a secure net banking account, you can pay for something that costs as low as ₹100. While people use e-banking services to pay for something very expensive, they usually pay in cash for inexpensive things. For example, you can use net banking even to pay for recharge too. Both DTH and mobile recharges can be done using digital banking services. Original Content - 4 things you can do with secure Net Banking

#e-banking

4 perks of Digital Banking

As banks across the world are getting digital, the customers are reaping the benefits. A range of facilities are being provided to the customer with the help of online services. The best banks across the world make sure that a customer can enjoy every banking benefit at ease. This has only been possible with the advent of digital banking. You may have heard the term “digital banking” or may have also used it, but unless you know about the boundless benefits of the same, you will not be able to make the most out of this advanced technology. To get you started, here are a few perks related to digital banking that you should be aware of.

Digital banking offers features beyond online banking

Most people are confused with the two terms, namely digital banking and online banking, and use the terms alternatively. But these two terms are not the same. Online banking is just a part of digital banking and there are many other avenues of digital banking that remain unexplored. While the banks go digital, there are arrays of financial management choices a customer has. Starting from financial transactions to the management of trading accounts, all can be done digitally now.

No physical location needed

Gone are the days when an entire banking service was dependent on brick-and-mortar outlets. Now, you avail all your banking facilities without even stepping inside the bank. Thanks to the digital era that has brought a massive revolution in banking services. Now, you can also avail a banking service offshore while you enjoy high-interest rates. Digital banking services are transcending boundaries and making it easy for customers to manage, spend and save money with ease.

Mobile banking services add an extra edge

A new addition to the digital era is the availability of mobile banking. Modern mobile phones have a range of facilities that can make banking services better. For example, the availability of fingerprint scanners and face detection scanners in modern handhelds adds up to the security of banking services. Likewise, there are various benefits of having a mobile banking account. When you have your banking account linked to your mobile, you can avail all the UPI-based services to make your transaction smooth and easy. Now, buying your favorite movie ticket does not mean that you have to stand in a long queue. With mobile banking, it is at the tip of your finger.

Original Content - 4 perks of Digital Banking

#mobile banking account

4 things you can do when you open new account online

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.

Source:- 4 things you can do when you open new account online

3 things you can use a money transfer bank app for

In the case of net banking services, you don’t need to visit the bank physically to carry out transactions with the bank. When net banking was introduced, you needed computer screens. However, nowadays, you can carry out banking transactions on a money transfer bank app.

On the other hand, to use the banking app, you need to have an account in the bank. If you have one, make sure to opt for the bank’s net banking services. Banking apps are one of the most useful things you would have on your smartphone. If you have a money transfer bank app, you can use it for things like:

1.Opening an account:

As stated above, if you want to use a money transfer bank app, you need to ensure that you have an account in the said bank. If you don’t have an account in the bank, don’t worry, you can use the app for zero balance account opening. Firstly, you need to install the app and after that, open it. After opening the app, click on the option to open the account. On doing that, you will be taken to the page that has the form. In that form, you need to add personal information. Once the information is added, please upload the soft copy of government-issued ID cards for verification. Once the verification process is completed from the bank’s side, your account will be activated.

2.Acquire account statements:

An account statement is a detailed record of the expenditures incurred in your account in a while. While acquiring a statement was possible even in the pre-digital era, it was a very different process and took a considerable amount of time. You had to update the passbook. If you did not update the passbook over some time, then recording all the expenses took time. Conversely, with a money transfer bank app, this process is over very quickly. For example, your home loan provider wants an account statement for six months. To submit the record, you need to log in to your account click on the account statement option, customise the date range for six months and download it.

3.Send an application for credit cards:

While there was a time when you had to manually fill out the application form for a credit card, nowadays, you can apply for credit cards in a few minutes. If your phone is connected to the internet, it is very easy. Open the money transfer bank app, log into your account, click on the option that takes you to the application. On that form, you need to add personal details. Once those are added, please submit the form.

Other than the three things mentioned above, there are several other reasons you could use a money transfer bank app for. But, if you continue having doubts about this issue, you can either choose to read up about it on the internet or even contact a bank of your choice as soon as possible.

#moneytransferbankapp

UPI (Unified Payments Interface) is a type of payment system in which money transfers can be completed in a matter of seconds. This system which entered the market in 2016, changed the way the banking sector worked. When you have a UPI money transfer app, you don’t even have to visit the bank physically. All you need is a smartphone which is connected to the internet. While they have been around since 2016, these banking apps gained a huge boost when the pandemic forced people to adapt to working from home. As stay-at-home orders became common, people started using banking apps as they did not have to visit the bank physically to carry out business. Very convenient to use, there are certain things you need to remember about a UPI money transfer app:

1. Open an account:

One of the basic things you can use a UPI money transfer app for, is to open your savings account. Doing this was very different in the pre-digitisation era. You had to visit the bank physically to open the account. But, nowadays, thanks to the internet, you can open a web browser and type “open bank account app” and you get a list of banking apps. To use one of them, open the play store and install the app of your preferred bank. Once it is installed, open the banking app and click on the option to open an account. You have to fill out the form and once that is done, submit the soft copy of your government-issued documents. You have to submit documents so that the bank can verify the information you provided.

2.Use it for all kinds of Payments:

Another thing you can use a banking app for is to make payments regardless of the price. Be it something that costs ₹1000 or ₹10. It is a popular misconception that a UPI money transfer app cannot be used for something affordable, the truth is that it very well can be. Just imagine this scenario. You are in a general store and you select an edible that costs ₹15. Instead of struggling to acquire the cash, which many people don’t prefer nowadays as the pandemic is still raging, you can take out your phone and scan the QR code. After scanning the QR code, you can pay ₹15 to the shopkeeper.

3.You can enjoy more than one kind of payment option:

Before the digital revolution of the early aughts, you had to visit the bank physically, fill out the paying slip, deposit the cash or cheque and wait for the money to be debited from your account and deposited into another account. But thanks to the UPI money transfer app, you can avail different kinds of payment options such as NEFT and RTGS money transfer. In the case of NEFT, your money is debited in a few hours, conversely, with RTGS (real-time gross settlement) the money is debited instantly.

Other than the three above, there are several other things you need to remember about a UPI money transfer app. In case you have questions, please contact a bank of your preference as soon as possible.

#UPImoneytransferapp

3 Ways Opening A New Bank Account Online is Convenient

One of the sectors that were touched by the digital revolution was banking. E-banking while popular, gained more prominence as lockdowns become the norm. As people wanted to feel safe as the pandemic started to spread across the nation and the rest of the world, they even started to take care of their finances from home. This ensured that visits to the bank remained very rare.

Today, banking has been made portable as you can carry out your transaction even on your phone. Here are some of the reasons why you should activate a new bank account through online means:

Your work is completed quicker:

One of the best features of carrying out your transactions online is that you do not need to visit the bank physically to carry out your business. This alone saves your time. When you do banking physically, apart from the time taken to visit the bank physically, a large chunk of time will be spent waiting in the long queues. However, by opting for e-banking services, you can say goodbye to long queues. Moreover, transferring and receiving money has never been faster than they are during the era of digital banking.

2. Every detail is recorded and saved:

Just imagine, you visit the bank to pay your monthly rent and upon the receipt of the payment slip, you are suddenly not able to remember the account number of your landlord. For the successful completion of the transaction, you need to call them to get the details. However, you do not have to worry about forgetting your account number when you open a new bank account online. Just after one online transaction, the details of the receiving party are saved. Another reason to open a new bank account digitally is that your monthly spending is recorded. For example, if you want to submit a history of your account summary for the past six months to apply for a loan, all you need to do is log in to your account and go for the passbook section and select the date range. After doing all that, you will get the statement of your expenses at the tip of your fingers.

3. The best features:

This is one of the foremost reasons why you should opt to activate a new bank account through online means. You are offered special discounts and the best features. For instance, if you were to open your app and click on the offers tab, you will find special discounts offered on a wide range of things like mobile phones and cakes. Apart from the special discounts that you can enjoy, it also offers a wide range of special features including leaving standing instructions. For example, you are travelling on a local when you suddenly realise that today is the due date for your mobile bill. But, if you have a banking app on your device and internet access, you can complete your payment in a matter of minutes, something which is not possible without e-banking.

Apart from the aforementioned three reasons, there are several other reasons why you should opt for e-banking services. If you have further queries, just do a web search for “free bank account opening online” and your doubts will be answered.

Original Content - 3 Ways Opening a New Bank Account Online is Convenient

#banking app

Top Three Benefits of a Zero Balance Account

There are numerous types of bank account options available for Indian customers. They can either open a savings account, current account or a joint account, etc. An option recently introduced by banks is a zero balance account that allows customers to open a zero balance in their bank.

A zero balance account is a savings bank account that has a zero balance in it and yet is not charged for it. This type of bank account is usually maintained by individuals, either by self or jointly with another individual. To open a bank account having zero balance customers would need to submit the basic KYC documents like the identify proof and address proof.

A zero balance account helps banks encourage more savings amongst people. Customers can enjoy the same privileges offered by regular bank accounts without requiring customers to hold a minimum balance.

With a zero balance account, customers can do a number of online transactions. They can also avail internet and mobile banking services and do unlimited ATM transactions. The account can be opened with the help of their PAN card and Aadhar cards

The top three benefits offered by a zero balance account to customers include:

● No charges for zero balance

As a zero balance account does not require customers to maintain a minimum balance, they are not charged any fees in case their bank balance reaches zero. Ideally, a zero balance account attracts more customers in India than a regular savings account.

● Free facilities

A zero balance account offers customers some facilities like a passbook and free cash and cheque deposits. Customers can also get a debit or a credit card. Additionally, they can opt for the mobile or net banking facility of the bank.

A zero balance account also offers customers a safe deposit locker facility. They are charged nominal charges for these facilities.

● Enables digital payments

A zero balance account allows account holders to make digital payments. Account holders can use the best banking apps to make payments easily and conveniently online.

Customers having a zero balance account can make four transactions every month. In case, their transaction number exceeds this, their zero balance bank account is converted into a regular bank account. nce account into a regular savings account.

● Zero balance account with PMIDY

A zero balance account can also be opened on the basis of Pradhan Mantri Jan Dhan Yojana (PMJDY) - , a scheme introduced by the government of India. Customers who open a zero balance account under this scheme can avail an accident insurance cover of Rs.1 lakh.

They can also avail the overdraft facility after completing 6 months of holding the account and get free passbooks and cheque books, the banks net banking facilities.

Another benefit of opening a zero balance account with PMIDY is that it can be used as a salary account also and provide customers with free NEFT, RTGS and locker facilities.

We hope the above the article helps you to open a zero balance account with your preferred bank.

Original Content - Top Three Benefits of a Zero Balance Account

#net banking

Six steps to set up an UPI Account

United Payments Interface of the UPI was introduced by National Payments Corporation of India in a joint venture with the Reserve Bank of India to allow users to make all types of banking transactions using an UPI payments app. To use an UPI payments app, users need to first set up an UPI account on their mobile phones.

UPI apps are being used by over 100 million active users across India. They enable users to make payments really fast, within a matter of a few seconds. Users can also receive money through these apps unlike in other payment methods like IMPS, NEFT, etc. These apps are completely free and can be used by users anytime.

To set up a UPI account, you need to have a smartphone and an account with a UPI-member bank. Your mobile number needs to be registered with the bank. As of 2021, 216 banks in India allow UPI transactions.

Download the UPI app

Next, you need to download any UPI supporting app on your smartphones. Once you download the app, you will have to create a virtual ID (identity) by the app. This ID can be used to either make or receive any UPI payment.

Set up a Virtual Payment Address

After creating an ID, your bank will send a one-time password or an OTP to your mobile number to authenticate your bank account. Once your bank account is authenticated, you can set up your Virtual Payment Address (VPA) by entering a UPI PIN. This is a 4-digit personal identification number that can be chosen by the account holder.

Link your bank account

The Virtual Payment Network (VPN) address is like an e-mail address that allows you to make payments from your bank account by using your mobile phones. You can link more than one bank account to the same virtual payment address.

Scan the QR code

Payments using a VPN address are done by scanning a specific quick response (QR) code. These QR codes are unique to every transaction, and are used by both online and brick-and-mortar traders.

Multiple uses of UPI apps

A UPi payments app can be used to transfer money from one bank account to another using an UPI app. UPI also acts as an international money transfer app, allowing users to transfer money to banks in 10 countries across north and southeast Asia. Users can also receive money through this app. They can pay their shopping bills at confectionery, stationery stores, etc.. They can pay their DTH or mobile bills. The UPI app can also be used for DTH and mobile recharges Original Content - Six steps to set up an UPI account

#international money transfer app

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