The change from internet banking to online banking has been easy for many. Online banking apps offer more convenience and are easy to understand than internet banking. Therefore, users haven’t missed banking with their internet banking IDs, instead using their phones to bank easily.

Take IDFC FIRST Bank’s digital banking app as an example. Among the most advanced online banking apps, IDFC FIRST Bank’s mobile app has an easy interface that anyone can understand. Every service has been clearly listed, and the navigation tool helps move from one service to another. Read on to know the other reasons why mobile banking is here to stay.

How is online banking different from internet banking?

Internet banking encompasses both internet banking and online banking. What differentiates online banking from online internet banking is a banking application. Every bank has its online banking app. As mobile apps make banking faster and more accessible, online banking is preferred by customers more than internet banking.

What is a banking application, and how does it work?

A banking application like IDFC FIRST Bank’s digital banking app enables customers to bank on their mobile phones. Online internet banking has shifted from a website to an online banking application. However, this does not mean the customer cannot choose between the two. Most banks allow customers to avail themselves of online internet banking services on their mobile apps and websites.

Services offered by mobile banking apps

IDFC FIRST Bank’s online banking application helps you access online banking services through your phone. Here are all the services that you can access through the app:

  • Open an FD in two clicks: You can open a fixed deposit (FD) account in two clicks with the IDFC FIRST Bank mobile banking app. If you have a lump sum amount to invest, you can choose an FD.
  • Free online bank account: To open a savings account with IDFC FIRST Bank from home, download the IDFC FIRST Bank mobile banking app.
  • All bank accounts in one place: The UPI-enabled (Unified Payments Interface) feature allows you to have all your bank accounts in one app.
  • Invest in mutual funds: As promised, the new online banking app does more than facilitate personal net banking. You can also invest in mutual funds via the IDFC FIRST Bank mobile banking app and start with a monthly SIP (Systematic Investment Plan) of as low as ₹500.
  • Smart statements: Track your money and know where it is going by downloading ‘Smart Statements’ on the banking app.
  • Manage upcoming expenses: Plan your net banking by managing and viewing your upcoming spending.

How secure is the IDFC FIRST Bank mobile banking app?

The IDFC FIRST Bank mobile banking app allows customers to secure their transactions with multiple layers of security, including fingerprint lock and MPIN. With over one million downloads on Google Play Store, the IDFC FIRST Bank mobile banking app has successfully established its reliability.