With the rise of mobile banking, we no longer need to stand in queues to execute financial transactions. So, almost every bank has an app that provides ample freedom to its account holders to perform banking away from banks. Mobile banking apps provide users the conveniences of online banking in a requisite smartphone.
Here are some of the most popular and well-known banking applications:
1. HDFC Bank Mobile Banking
It is one of the most user-friendly mobile banking apps, allows you to perform most of the banking operations conveniently from the palm of your hand.
Here is what the app says –:
– Pay utility bills, credit card bills, etc.
– View Account summaries and Fixed Deposit summaries
– Transfer funds, including transfers to other bank customers
– Request statements, cheque book, stop payment
With 4.2 stars on Google Playstore, the app runs smoothly on the low-speed internet too.
2. iMobile by ICICI Bank
iMobile claims to be the most comprehensive and secure Mobile Banking application, getting payments done through Unified Payment Interface (UPI), offering over 170 banking services on your mobile.
It allows all banking facilities from sending cash to opening FD, locating an ATM to ordering your cheque book you can manage your bank account at your convenience.It also has a companion smartwatch app called iWear for on-the-go banking experience. iWear is a companion app that works only when a user has downloaded Android Wear on their mobile devices.
3. Yes Mobile by YES Bank
YES, Mobile is the official mobile banking application of YES BANK. It claims to perform 85+ banking transactions for its users on the go. Like wise ICICI Bank, the app is also available on a smartwatch. All you need to do is sync your Android wearable watch with your mobile through Bluetooth. On your smart watch you can:
1. Check Balance
2. Check last 5 financial transactions
3. Check Bill Payments
4. Locate YES BANK ATM/Branch
Key features and services
• Fingerprint and Pin Based login
• Account Information & Balance Inquiry
• NEFT/RTGS money transfer online
• 24X7 Interbank Mobile Payment Service (IMPS) using Account info & IFSC
• Ad-hoc fund transfer on the go, without having to register a beneficiary
• Pay to your contacts, Facebook friends & Twitter followers
• Pay utility bills & manage billers, Pay all bills in one go
• Open Fixed Deposit(FD) & Recurring Deposit (RD)
• Mini Statement & Request for Cheque Book
• Easily recharge your DTH & Mobile
• Hotlist Debit Card & change Debit Card PIN
• Register Queries/Complaints via Speech to text
• Option to upload your photo
• Option to Personalize your menu
• Callback features by applying for another savings account, personal loan & more
• Locate nearby YES BANK branches & ATMs using maps & augment reality
4. SBI Anywhere Personal by State Bank of India
SBI Anywhere is the Mobile Banking application for Smart Phone customers of SBI supporting English and Hindi languages. The app setup is easy and allows users to check their account information at any time. It has a plethora of functions including Voice Assisted Transactions and also supports inter-bank secured fund transfers thru RTGS/NEFT/IMPS. You can also transfer funds to unregistered beneficiaries through QR code.
Here is what the bank app claims for UPI -:
• Pay to VPA
• Pay to Aadhaaar
• Pay to Account No & IFSC
• UPI Payment History & Raise Dispute
• Dispute Status
SBI Quick, Smart Watch Banking, Aadhar Linking to all bank accounts etc are some of its cool features.
5. Kotak 811 & Mobile Banking by Kotak Mahindra Bank
Kotak 811 is the official mobile banking app of Kotak Mahindra Bank, 811 means 8/11 or 8th of November the day when the Prime Minister of India announced demonetization.
The uniqueness of this app is that it lets you download a Kotak 811 savings account on your phone. All you need is your Aadhaar number, PAN and you’ll be done in less than 5 minutes.
It claims to have over 100 features including managing all your financial transactions, shopping online via Flipkart, booking movie tickets via PVR, flights and hotel rooms via Goibibo and much more. This app is also Unified Payment Interface (UPI) enabled which lets you send and receive money without adding any additional bank information.
It also offers easy login using Fingerprint Authentication on select devices.
Honorable Mention: Paytm Payments Bank App
Paytm has finally opened its Payments Bank (PPBL) for every customer after its launch in May this year securing an approval from Reserve Bank of India. Earlier it was an invite-only affair, but now, Paytm in its latest update, has opened the bank for all users. This new feature is now available for both Android and iOS devices
The PPBL service will only be available through the Paytm app for now. You cannot sign up via any web browser or any physical branch.
As a Payments Bank, Paytm can now offer banking services like Debit Cards, Online Banking, Mobile Banking, and also accept deposits of up to Rs. 1 lakh per customer in a Savings Account. Although Payments Bank cannot offer financial products of their own as a business entity, it can act a business correspondent and partner with other financial institutions and banks to offer Loan Products, Fixed Deposits, Insurances etc.
Courtesy – https://paytm.com/
How can you open a Paytm Payments Bank account?
To open your bank account, kindly follow these simple steps.
– Launch your Paytm app
– Go to the Bank tab on the bottom right of your screen
– Set a passcode (if not setup already) and provide nominee details for your account.
– In case you are a Non-KYC customer, you will be prompted to book a KYC appointment
– You will be notified when your account is created
Let us know about your experience with these apps or any other banking apps worth mentioning. Please share your thoughts in the comments.