Social Investment

How to use mobile banking?

The way people bank has radically changed with the development of the smartphone. With the help of mobile banking, nowadays, you can have 24/7 access to your accounts. You are now able to use your mobile device to complete a number of important financial transactions.

Understanding how to use mobile banking services will help you maximize your banking experience. So, continue reading to make the most use of the Fast Mobile Banking app:

What is mobile banking?

Mobile banking is a service that enables users to access their bank accounts and carry out different financial operations using a mobile device. It includes using a smartphone or tablet for money transfers, checking account balances, and paying bills. 

Customers must first register an account and download the bank’s mobile app from an authorized app store in order to access mobile banking. They can access a variety of banking services and features on their mobile devices once the app is installed and the user profile is created.

Statement and Account Balance

You can conveniently check your account balance whenever you want using a mobile banking app. Enter your username and password, then select the option to view your account balance. Apart from that, you can view and download your account statements whenever you need.

Money Transfer 

The Zero Balance Account App gives you access to a number of methods, including National Electronic Funds Transfer (NEFT) and Immediate Payment (IMPS). You can also use apps that are linked to your bank, like UPI, to send money fast and conveniently.

Pay your bills

Years before, in order to pay your power payment, you had to visit an office. It took the best part of the day to write out a cheque, wait in a queue and present it to the cashier along with the bill. 

Now all of that is past. Now all you have to do to pay the bill is log into your mobile app, and it takes only a few seconds. For power, water, gas, mobile phone, and other bills, you can even give instructions to have them paid automatically whenever they arrive.

Loan applications

Direct loan applications for personal, vehicle, and home loans are available through your mobile banking app. You don’t have to go to the bank branch to do that. Fill out the form under the app’s loan area with information about your age, salary, and expected loan amount after the loan application process is completed.

Open a fixed deposit. 

Cash balances don’t need to sit in your savings account for very long. You may quickly open a Fixed Deposit using the mobile app on your phone. So, if money comes into your account, you can move it to an FD to maximize your profits. 

By using the mobile app to access your Demat Account, you can also quickly check your share portfolio. You can even buy insurance policies and mutual funds.

Final thoughts

Most banking services are available to you on a mobile device. So, after learning how to use it, the next step you should take is to download the Fast Mobile Banking app. You may access your account 24/7 from anywhere, at any time, and it saves you valuable time.