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How are funds transferred within seconds?

by Yolando B. Adams

In a day and age where online money transfers have become standard practice, individuals do not have to waste any time carrying out their required financial transactions. Today, with a stable internet connection and smartphone, one can instantly transfer funds with just a few clicks. There is no doubt that personal internet banking has made life easy, and if you are looking to understand how funds are transferred within seconds, read the following article to learn more about such online transfers!

How to Transfer Money Online: A Complete Guide | Paytm Blog

What is the most efficient method of personal internet banking?

The most efficient method of personal internet banking today is mobile banking. The general consensus points towards an increased acceptance of mobile banking apps in India, especially after the success of the Unified Payments Interface (UPI). However, what can one do to identify a good mobile banking app; or know that the one that they are using needs to be changed? Read on.

Things to keep in mind before choosing a mobile banking app

The UPI payments must be seamless

In the age of ever-growing UPI transactions, you must opt for an app that facilitates smooth and fast UPI transactions. The UPI feature of your mobile banking app must be technically robust and secure.

Opt for high-quality customer service

Remember that as a customer, the bank’s customer service team is your sole point of contact for any queries. An unresponsive customer service team can completely soil your experience of using the app – regardless of high-quality features or a good user interface. You must opt for reputed banks that are known for their superior customer service for a better mobile banking experience.

You must have more than one way of transferring money online

Banks that offer only one way of transferring money online make you depend on that one feature for all your transfers. The more options for transferring funds at your disposal, the better it is for you as a customer. An example of multiple money transfer options could be IDFC FIRST Bank’s ‘One-Swipe Pay’, ‘Auto Pay’, and UPI transfer facilities.

The app must offer investment-related features

Your mobile banking app must offer investment-related options and link them with savings-related features. In today’s times, simply saving is not enough. One also needs to invest money to grow their financial corpus, and this is where a mobile banking app should help.

Two important features that we take for granted

Finally, here are two important features that you absolutely need in your mobile banking app: Net banking login and accessing online bank statements. You must be able to log in to your bank account seamlessly through the app and check your bank statements easily. These are some functions that are considered to be basic and important, which is why your banking app must focus on them.The six points we made in this article can help you identify a good mobile banking app today in India. Be sure to properly research the particular banking app’s features before opening a bank account with any bank!

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