Personal Finance for Beginners - 5 Digital Banking Features You Need to know - 2019

In a technologically driven era like our's, these are the 5 important features that you must know. 1. Online Banking The online banking feature provides you the luxury of banking anytime and anywhere. Throughout the year, website services are offered round the clock for internet banking; except for time needed for website maintenance. To facilitate online use, most banks that offer online banking provide a host of high quality, technological solutions that make your banking experience easy and fast. Most online banking systems offer the same common features, with only a few exceptions, and most of these services are given to customers free of charge. Some of the common online banking features and services include: View a summary of your account and transaction history You can view or print your account statements and balances Set up online payments and direct deposit services Reorder checks for your account via the web Some services allow you to export your account histories to third-party accounting software Transfer funds from one account to another or make deposits which saves a lot of time and money for you. Other accounts and services like CDs, IRAs, and others can be managed from the online account 2.  Personal Finance Planning These days, there is a lot of competition in the banking sector, and most banks want to have an edge over other banks to be successful. Therefore, the banks come up with advanced websites that have several banking options. Some of the sturdy features of digital banking on advanced websites are loan calculators, premium calculators, financial planning tools, tools to help analyze investments, budgeting, forecasting, and also tax preparation, etc. This helps a consumer to keep alert with many different features in an effortless way. As a result, most of the financial planning can be done efficiently without the need to personally visit a bank. 3. Digital Wallet Gone are the days when people used to carry cash in order to shop. Now mobile wallets (m-wallets), or virtual wallets, have become quite popular. With these mobile wallets, you can pay just by using your smartphone. After demonetization, more people have started using m-wallets. Digital wallets are one of the best innovations in the field of technology. Millions of people are making payments from these e-wallets, which are easy to use. A look at the top trending mobile wallets: Paytm MobiKwik JioMoney Oxigen State Bank Buddy 4. Digital Coupons and cash back In marketing, a coupon is a ticket or document that can be redeemed for a financial discount or rebate when purchasing a product. All the Indian banks give discounts on numerous items you use in your day to day life through coupons and cash back. 5. Automatic Bill Payments How many bills do you pay every month? For most of us, the answer is “too many”. You’ve got rent/mortgage, utilities, car loans, various types of insurance, student loans and all of the other subscriptions. That’s a lot of bills to juggle even if they come once per month! Refer to the link below to know more: https://groww.in/blog/10-digital-banking-features-need-know/ If you want to start investing in direct mutual funds, refer to the link below For the latest update on investments, finance and market, Follow us: Instagram: https://www.instagram.com/growwyourwealth/ Facebook: https://www.facebook.com/growwapp/ Twitter: https://twitter.com/_groww ---------------------------------------------------------------------------------------------------- Invest in MUTUAL FUNDS, Download the Groww App: https://groww.app.link/HY3iy0TsUS ----------------------------------------------------------------------------------------------------