Banking in India is moving towards complete digitalization at a steady pace. A survey conducted by Google recently showed that about 22 percent of people in India have complete online bank accounts, and the number is increasing every year. It is estimated that there would be around 400 million Indians holding a digital-only bank account.
With mobile banking, a bank like IDFC FIRST Bank is doing its best to meet its customers’ needs and expectations. Its banking app is designed to have features that the users cannot afford to ignore.
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Open a digital bank account
IDFC First Bank through its digital banking app offers its users the convenience of opening an instant savings account online. For the purpose, you need to provide your name, mobile number and email address to go to the next step of entering your Aadhaar Card and PAN Card details, which will take you to the next step of filling in an application form with your personal details, including your occupational status, annual income and any other related details.
Once you have provided the required details and supporting documents online, the bank takes a few hours to open an account. After that, you can also have a debit card on phone. With the IDFC FIRST Bank app, it takes only a few minutes to open a bank account and enjoy the benefits of online bank transfer app. A few important benefits to mention are:
- Competitive interest
- No fee for payments made through IMPS, NEFT and RTGS
- Rewards and cashbacks for transactions made through the account
- Lost card liability and accidental insurance coverage
How to transfer funds on IDFC FIRST Bank mobile banking app?
The online fund transfer on the app can be made using:
UPI Payment App
The IDFC FIRST Bank mobile banking app allows you to link your bank account and help you make instant transfer of funds using the Unified Payment Interface or UPI. All you need is to download the app, add all the bank accounts you want and make payments quickly.
RTGS
The IMPS facility helps the customer to Immediately transfer funds to any third-party beneficiary using the Real Time Gross Settlement System (RTGS). All you need to do is to fill in the beneficiary’s account with a bank that participates in the RBI’s Real Time Gross Settlement System (RBI – RTGS) scheme. You can instantly transfer money through the IDFC FIRST Bank internet banking or mobile banking app. The customer has to visit the branch and initiate an RTGS online fund transfer facility. You can instantly transfer a minimum of Rs 2 lakhs to a maximum of Rs 20 lakhs.
NEFT
With the mobile banking app of IDFC FIRST Bank, you can transfer funds to a third-party account using the National Electronic Fund Transfer service to a maximum of Rs. 20 lakhs.
In addition to the online bank transfer facility, you can track your account balance and transactions using this bank account check app of IDFC FIRST Bank anytime.
