The introduction of Net Banking has made life simpler. It has enabled us to carry out all daily transactions with ease. It has also discarded the need for unnecessary paperwork and formalities associated with it. Hence, many prefer it over traditional banking today. But it helps if you are well-versed with the features of Internet Banking. Only then can you enjoy its perks to the fullest.
You can make smarter banking decisions that way. The following are the most notable ones for your guidance:
- Access to account statements
Through Online Banking, you can check your account statement anytime, anywhere. There is no need to visit the branch physically. Through a few clicks, you get access to all your transaction records.
- Pay utility bills
One of the best features of this banking is that it facilitates utility payments. For example, you want to pay your electricity bill. In this case, you can go to your Banking app and make the payment. It barely takes time, and the amount gets processed almost instantly.
- General Insurance
Some banks offer General Insurance facilities when you start your Digital Banking journey. For example, you open a Savings Account with XYZ bank. They provide you with General Insurance coverage at a low premium if they are efficient.
- Transfer funds
Withdrawing money is not always possible when you must pay someone. At times the ATM near you would be out of service. Other times, the payee might not have the exact change. In such cases, Net Banking comes to your rescue. It allows you to transfer funds into another account effectively.
- Fixed Deposit facility
Through Digital Banking in India, you can also open a Fixed Deposit easily. You only need to follow the steps on your banking partner’s website. It does not take long.
- Chequebook reissuing
Earlier, you had to visit the bank to receive a new chequebook. There, you had to fill out a form and undergo other formalities. But today, online Net Banking lets you reissue chequebooks digitally. The steps are simple and get done in a jiffy. Plus, you get the chequebook delivered to your doorstep once you complete the process.
- Mobile & DTH recharge
Nowadays, almost everyone has a mobile and DTH. You would know that they need to be recharged monthly. Hence, it helps if you avail banking services online. It enables you to make recharges soon.