Before signing up for a money transfer app, you should consider reading up on the experiences of account holders as doing so will help you in choosing the best UPI app. Ideally, you should sign up for a mobile banking app that offers a smooth banking experience. To find a good banking app, you should be aware of the ideal features to look out for. Here are some features an online banking app should have:
- Easy account management
By installing a UPI app on the phone, you can carry out an online money transfer at whatever time you want, without having to worry about public holidays or banking hours. Apart from quick fund transfers, ideally, a good banking app should also allow you to check the forthcoming payments and cancel them in case the expenditure was unnecessary. For instance, the IDFC FIRST Bank mobile banking app has a facility through which you can view and manage all your scheduled payments.
- Virtual credit cards
With the help of these credit cards, you can opt to pay for goods and services online without having to carry your physical card. Virtual credit cards are helpful in case you are unable to locate your physical credit card, or it gets stolen. With virtual credit cards, even if you are left without your primary payment method, you don’t need to wait for the replacement.
- Sound security features
Sign up for a banking app that comes with features that make it harder for hackers to hack into your account. One important security feature is the one that allows you to immediately deactivate your card in case you could notice a fraudulent transaction. You can immediately block transactions through the app if you were to lose your card. By blocking the card, no one will be able to swipe it for using the funds in the account. After blocking it, you should report your missing card and request a new one. Other security features that you should look for are touch or face IDs that will check your biometric information for logging into your account through the app. These features are known for being more secure than PINs or passwords and can help in avoiding anyone from accessing your banking information.
- Auto-pay facility
The auto-pay facility guarantees that recurring payments are made automatically from your account without needing you to participate as the transaction takes place. For enjoying the facility of auto-pay, you are just required to add a standing instruction on the app. On this standing instruction, add the account information of the payee and specify the preferred deduction date. The best advantage of the auto-pay facility is that it ensures timely bill payments.
Signing up for mobile banking services is a convenient way of keeping a track of your money as well as completing all your financial transactions with ease. Thoroughly researching different banking apps will help you sign up for the most suitable UPI app.
Reference links
https://www.chime.com/blog/top-mobile-banking-app-features-to-look-for/
https://imaginovation.net/blog/banking-app-features/
https://www.netguru.com/blog/mobile-banking-app-features
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