You can use a digital banking app for these 5 functions

Net banking is a service in which you don’t need to visit the bank physically. Thanks to the E-banking services, you can carry out banking functions from the comfort of your home. When it was introduced, you needed access to the computer. But, in recent years thanks to the technological evolution, you can install a digital banking app on your phone. Installing the e banking app helps you to carry out banking transactions on the phone. All you need is a smartphone that is connected to the internet.

One of the most useful things that you can have on the phone, digital banking app is known to make things convenient for users. Easily found on the play store, these banking apps can are useful for a wide range of functions. They are:

 

1.      1. Open your savings account:

Amongst the most surprising reasons why you could use digital banking app is to open a savings account. You may think the process is hard but if you were to type ‘opening account online’, you will find that it is pretty simple. All you need to do is install the app if you don’t have it on your phone. Then, open the app and click on the application form. Then, provide personal details. Once that is done, please upload your documents as proof. Once, your documents and application form is verified by the bank, the account will be activated.

 

2.     2. Use it for small transactions:

You may think that a digital banking app can be used for transactions that cost a lot, however, that is a huge misconception. A banking app in truth can be used for transactions that don’t cost a lot. For example, you are in a general store and you don’t have the cash to pay for the biscuit. So, you need to take out the smartphone, scan the QR code and pay the retailer.

 

3.     3. Acquire account statements:

An account statement is the record of your debits or credits over time. Before net banking, to get an account statement, you had to update your passbook. If the passbook was not updated for over four months, then, you had to wait for a long time for the process to be completed. Listing all the records for over four months takes time. The longer the passbook was not updated, the longer the process takes to finish. But, with a digital banking app, you can customise the date range to four months for your account statement.

 

4.     4. Pay for streaming:

No one watches shows on TV. Thanks to the rise of streaming services like Amazon Prime, Netflix and Disney Plus, people watch their favourite movies and shows on their own time, a leisure that was not possible with television. In return, you need to pay a certain sum for a specific period of time. And this process can be completed on your smartphone connected to the internet.

 

5.     5. Send in an application for cards:

Other than for transactions, you can use a digital banking app for other things like sending applications for debit cards too. A debit card sent by the bank comes with an expiry date. To get a new one, you have to put up an application. So, when the card approaches its expiry date or after it, you need to log into your net banking account and put up an application for debit cards. Moreover, this process in digital banking is completed in just a few minutes.

 

Please remember that other than the five you see above, there are several other uses for a digital banking app. To know more, you can read up on this topic online. If you are still having doubts, please get in touch with a bank of your choice as soon as possible.