Online banking payment service has eased the process to pay bills, money transfer at any time. The individual can check or assess the transaction record through the internet or mobile banking. The emergence of e-wallets lessens the burden of carrying cash anywhere anytime.
Here are a few benefits of online banking
● Pay Bills
Pay bills online directly from your bank’s website or application. The bank sends the confirmation of the paid amount in the email. The users can set up a payee initially and use afterward just choose the payee and complete the transaction.
● Instant Money Transfer
Online banking has enabled easy transfers between different accounts within minutes. The transfer between the same bank account doesn’t take much time as in other banks. The transfer to another bank sometimes takes up to 2-3 days.
● Mobile Banking
Online banking from your phone enables quick check up on your accounts while shopping, transferring funds, or making sure you haven’t been over-charged or double charged at the time of paying a merchant.
● Use for Monthy payments, SIP & More
Several applications can be used for paying the premium of your LIC, monthly payments, SIP, and more on their due date.