The rise of online banking platforms has revolutionized the whole banking experience and how we manage our finances. Despite the growing popularity, many customers are unaware of the full array of features that online banking platforms offer. Let’s delve deep into a roundup of the top four features that your online banking app has and that you don’t know about.
Budget Tracking and Financial Analysis
While you may already be aware of basic account tracking, modern saving online bank offer detailed budget analyses and customized spending reports for you. Many banking applications offer digital online bank account spending tracks with autosave, autopay, and auto-invest rules as you go forth.
Other than budget tracking, you can also get a smart and flexible way to save and invest towards your goal daily, simplifying your finances. Beyond just handling your everyday transactions, your online savings account app also offers built-in investment features.
Virtual Cards and Payments Scheduling
Online banking applications offer virtual cards to make sure you’re not wary of online shopping due to security concerns. These are digital cards that can be generated with instant account opening, and you can also get your debit card delivered to your doorstep.
Missing out on payments can severely affect your credit score and turn in hefty charges as well. Luckily, online banking & UPI payment app now offer you a feature to schedule payments, ensuring you never miss a due date again.
This is a major feature of online banking applications that you might miss is multi-account management. Suppose you have multiple accounts across different banks or are planning to open different accounts. In that case, an online banking & money app can provide you with a unified dashboard to manage all of your accounts in one place.
Receiving alerts in real time for unusual activity or low balance can be of great help to you. This can be useful for detecting and analyzing your impulsive spending before it becomes a larger problem. Real-time alerts and notifications also give you full control of your bank account and can save you from any financial fraud.
You can also customize these notifications to your flexibility. You can tailor alerts as per your preferences and needs. For example, you can set notifications to be alert over a certain amount of time.
Security concerns are a popular myth surrounding online banking platforms. This makes many people hesitant to opt for an online banking and UPI app. This is just a myth, and all online banking apps pay very close attention to their security concerns.
While online banking has made financial management more accessible and convenient, its plethora of features remains underutilized. From budgeting tools to investment options, the scope of what you can achieve is vast. You can dive into these features and take full advantage of this banking revolution. Once you start using these features, you might be surprised at how much more efficient your financial life becomes.