What Is Mobile Banking And The Top 5 Mobile Banking Apps In India

What Is Mobile Banking And The Top 5 Mobile Banking Apps In India

 
What Is Mobile Banking

In Gadgets Survey Report; The Mobile banking started in India in 2002.transactions were carried out through SMS. Today, almost all banking transactions can be performed using a computer, laptop or a smartphone. Everything from checking account statements to paying credit card bills, utility bills and transferring funds can be done online.

 In 2018, almost all banks have mobile phone applications for financial transactions. Once a customer has downloaded the mobile banking app on their smartphone & then the banking transactions can be carried out as per their convenience.

In 2008, ICICI Bank was the first bank to launch mobile banking in India. Since then, almost all banks have followed suit.

HDFC Bank Mobile Application

HDFC Bank is one of the best banks in India. Its mobile banking app allows its customers to view their account summary, transfer funds, make credit card payments and pay utility bills.
HDFC’s mobile banking app is also available in Hindi and has a “LITE” version that is compatible with lower internet speeds. While the LITE version does not have all the features of the regular version, it covers the most frequently used services.

ICICI Bank’s iMobile Application

The iMobile app by ICICI Bank is one of the highest rated mobile banking application in India. The mobile app allows its users to transfer funds, pay credit card bills, pay utility bills, open fixed deposits and recurring deposits, and manage Life Insurance policies.

The iMobile app also allows users to locate ICICI Bank ATMs, transfer funds instantly through UPI payments, and transfer funds to an email id or mobile number. The mobile app is constantly updated to reflect newer services that the bank offers through the mobile app. Apart from fixing bugs, the most recent update enables users to check loan eligibility, and avail instant personal loans against their credit card, and upgrading debit cards.

Axis Bank’s Axis Mobile Application

The Axis Mobile app is popular because of its stability. The mobile app allows its users a host of different services and functions. In addition to the usual funds transfer and viewing account statements, the mobile app allows users to schedule credit card payments for a date that suits them better,

SBI’s Anywhere Personal Application

SBI has a number of banking apps for a variety of services, but Anywhere Personal is the mobile app that provides the fundamental banking services. The app—formerly called the State Bank Freedom app—is available in both Hindi and English. The mobile app has the mCash feature that allows users to transfer funds to a mobile number or email id.

Customers can also make payments for utility bills, instantly open and close fixed and recurring deposits, and schedule transactions. The mPassbook option provides customers with information of the last 150 transactions. The mobile app also allows users the ability to make payments to the SBI Life premium, and make ad-hoc payments to billers that are not registered on the app.

Bank of Baroda’s M-Connect Plus Application

The M-Connect Plus app is an upgraded version of Bank of Baroda’s M-Connect app.  The mobile app allows users the ability to transfer funds instantly, pay utility bills and make credit card payments. The mobile app also allows its users to make cardless cash withdrawals from Bank of Baroda ATMs. The mobile app provides users with an overall view of their account details and transaction history and also enables customers to make requests for a new checkbook.