The entire domain of mobile applications has revolutionized the banking industry, enabling a host of banking-related activities anytime and anywhere in the world. Let’s dive into the characteristics and advantages of online bank account opening.
The world has been rapidly moving towards digitalization in the last few years. Therefore, surviving without smartphones and other electronic devices in this fast-paced era has almost become impossible. So, from letting you open bank account online to opt for shopping, booking tickets, making utility bill payments, or exploring new lunch or dinner recipes; there is nothing your smartphone cannot do!
So when everything in the world is digital, why should the banking industry be left behind?
How banking functionalities are conducted today has changed tremendously throughout the world. In present times, virtual banking is no longer a trend but has turned out to become a necessity so that online banking account open can be facilitated.
According to a study, virtual banking applications are the most widely used banking channels in Asian countries. Approximately 83% of urban Indians and 78% of urban Chinese having a bank account online open with their name use mobile banking apps in order to conduct their regular banking activities.
Let us have a glimpse of some main advantages and characteristics of mobile banking apps:
Get 24×7 access to your bank account:
The traditional banking hours in countries like India are from 9 am to 4 pm. But what if you must access your bank account at midnight for an immediate requirement? You may have to wait for the bank to open in the morning or go to a neighbor’s door to ask for help.
However, with the help of a digital banking service like Khata Kholo that can act as an exhaustive guide on your mobile phone, such circumstances will never bother you. Internet banking or a mobile banking platform gives you access to your bank at all times.
Locate the nearest ATM:
While many people need to be made aware of this service, it does exist, and you can use your mobile banking application to locate the nearest ATM along with the nearest branch of your bank. This facility can be of great use if you need to withdraw funds urgently, particularly when you are in a new neighborhood or city.
Track your expenses:
You can keep track of all your expenses using your mobile banking app. You can view all your past expenditures and access and handle your upcoming spending. Also, you can set reminders to ensure you are well-updated with paying any EMI or bills.
Invest your funds:
If you have additional idle funds in your account, investing them in various financial instruments can be a great idea to generate better returns. With the help of a digital banking app, this process has become very easy. You can easily keep track of your investments and profits and modify your portfolio if needed.
Conclusion:
A digital banking or mobile banking app can come in handy as it has many characteristics and benefits. You can access banking services anytime and anywhere and gain full control over your finances. Also, it is vital to follow various precautions, such as keeping your username and password safe and protected and not exposing them to any unauthorized access.
