How to identify a Good Mobile Net Banking App?

banking industry

Customers can choose from various mobile net banking apps on app stores today. However, the standard  of a good or efficient net banking app and the customer expectations from it have raised  along with the increased acceptance of online fund transfers in India. From providing seamless access to bank accounts to helping customers view and manage their investments securely, mobile banking apps have changed focus in recent years. This article offers four tips to help you identify a well-structured mobile net banking app.

More-than-one money transfer options 

Top mobile banking apps offer multiple modes of online money transfer other than the popular Unified Payments Interface (UPI). IDFC FIRST Bank’s mobile banking app offers two new online transfer options – “Auto Pay” and “One-Swipe Pay”. “Auto Pay” facilitates a seamless online fund transfer to any recipient, and “One-Swipe Pay” is a more convenient money transfer method that requires the customer to swipe to make a payment. Besides these features, IDFC FIRST Bank also facilitates NEFT (National Electronic Funds Transfer), IMPS (Immediate Payment Service) and RTGS (Real-Time Gross Settlement) transfers. With several money transfer options available; customers need not over-depend on a single transfer option for their daily expenses. 

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Seamless access to net banking services

A useful net banking app also offers seamless access to all banking services. IDFC FIRST Bank’s mobile banking app allows customers to instantly access their savings accounts, Fixed Deposit (FD) accounts, and bank account balance. Customers can also quickly download their bank statements through the app. Furthermore, IDFC FIRST Bank allows customers to open a new bank account using the app without visiting a bank branch.

Features that help customers increase their savings

Banks like IDFC FIRST Bank help customers save more through unique features. IDFC FIRST Bank’s “Zero Fee Banking” feature waives the fee of 28 savings account-related services, including IMPS, NEFT, RTGS, ATM transaction charges, SMS alert charges, and chequebook re-issuance charges. In addition to this feature, IDFC FIRST Bank offers a comprehensive interest rate of up to 6.75% to help customers save more. Furthermore, customers can use the Track Your Expense feature on the IDFC FIRST Bank mobile banking app to categorise and analyse their previous expenses for better budgeting. These three features as an ensemble help customers increase their overall savings using their savings accounts.

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Superior security 

Through a recent notification, the RBI (Reserve Bank of India) instructed banks to take measures to improve the security of online transactions. Following this notification, banks have improved the reliability of their mobile banking apps by introducing various security measures. IDFC FIRST Bank offers a biometric login option for customers through its mobile banking app, thereby offering higher security. Similarly, they can instantly and securely access their bank account balance through the app. 

The efficiency of a mobile banking app is determined by its emphasis on providing access to banking services. If your mobile banking app can help you seamlessly and securely access all banking services at all times, you have chosen a robust and reliable net banking app.

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