7 ways a banking app can help you carry out money transactions effectively


Managing finance is one of the biggest challenges that all of us face. Though we spend only a small amount of money on each transaction, it adds up quickly, and these smaller amounts are the ones that are difficult to keep track of. The introduction of the IDFC FIRST Bank mobile banking app has made finance much easier to manage. The netbank app download feature helps you have seamless Internet banking experience.

Having the best mobile banking app comes not only with the benefit of accessing your account from anywhere but also gives you a lot of control over your bank account, which, in turn, allows you to manage your money effectively. 

Managing transactions easilyon a mobile banking app

The introduction of mobile banking has changed the banking industry. Advanced features in mobile banking apps have led most people to switch over to personal internet banking. Some of the most promising benefits of using a banking app are:

1. One-Stop Banking Platform  

This is the most convenient feature as it allows its user to manage multiple accounts on a single platform and switch between them as they please. This means that there is no need for multiple logins and passing through countless human verification. You can seamlessly carry out your day-to-day transactions from different bank accounts, including your mutual funds and trading account.

2. View Balances 

A common feature in all banking apps is to view balances. To view the total balances of all bank accounts, you can link all your bank accountson the app, which is a useful feature. The app also allows you to extract balances of individual accounts and even monthly balances, which can be very helpful in tracking your expenses.

3. Instant Money Transfer Options

The IDFC FIRST Bank mobile app offers a money transfer option to help customers transfer funds with three clicks. The customers can do online money transfers through NEFT, IMPS, RTGS, QR code, and UPI methods.

4. Keep Track of Your Expenses

The easiest way to check your expenses is to verify your bank statement. You can get a clear overview of your account with the help of a well-structured bank statement that has a list of all the transactions, including payments made outside the app and cash withdrawals from an ATM.

5. Instant Notifications 

Apart from providing you with an account statement on demand, the app also notifies you regarding receipts and payments in your bank account as soon as the transaction is complete. It also sends you a bank mini statement that includes the date, time, and the amount paid or received of the account linked to the banking app.

6. Track Your Spending Habits with AI-Based Expense Tracker 

One of the reasons for not being able to save money is unhealthy spending habits. No matter how little you spend, if you keep doing it for a while, you will find your bank account drained of balance. In such situations, having an expense tracker can be of great help. The AI-based expense tracker on the IDFC FIRST Bank mobile app helps track your expenses and tells you where your money goes.

7. Get Suggestions

Mobile banking apps today have a nifty technology that keeps track of all your expenses and provides you with valuable insights into areas where you can cut costs. This is a good way to reduce your expenditure and improve your savings.

Digitalization has brought in several changes to how you carry out activities in various sectors, including the banking sector. Mobile banking app has made banking convenient. It is safe to say that the banking industry will change even more considering the recent developments in technology. If you want to apply for a bank account online on the IDFC FIRST Bank mobile app, you can do it now.       

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