Usage of Mobile Banking is growing as it provides ease, flexibility, and speed while processing transactions. Most in India are doing away with traditional banking and adopting this method. Almost every private sector bank and PSU banks have an app to do banking transactions on the go. It removes the need for a computer, laptop, and physical visit to the bank.

Once you install a banking app on your mobile, you can carry out all banking transactions at your convenience.

Consider the following factors

Simple to use

One of the factors to consider is that it should be simple to use. The mobile app should be simple to understand. The navigation should not be challenging and have concise labelling.

Secure

Security should be on the list while assessing apps. It should have security with two-factor authentication. If possible, they should run biometric authentication.

Multiple payment alternatives

The best Online Banking app should have different payment options such as NEFT, IMPS, BHIM UPI payment, and QR code payment. It facilitates making payments using the mobile app quickly.

Conventional facilities

Mobile apps provide conventional banking facilities such as opening a Savings Account, card block, cheque book request, PIN generation, balance inquiry, ATM card issue etc.

Biller details

The app should have a feature for biller registration and remembering the beneficiary details while doing a transaction. All transactions via the UPI Payment app gets done smoothly and is accessible.

Track finance

The app must include the feature to track your finances effectively. It is advantageous if the app gives a dashboard showing your income and expenses. You can easily make online electricity bill payment and keep track.

Suggestions for using the app

Using the app provides ease and convenience; however, it has its security risks. If you are using them, here are few ways that help to secure yourself from threats:

Update the app

Always have an updated version with new features, bugs, and security fixes. Keep your Mobile Banking app updated as and when a new version is available. It is a good idea to give the app permission to install the latest updates automatically.

Avoid using Wi-Fi network

The public network is risky as it has a hidden virus that accesses valuable information from your device. Thus, it helps if you did not use a public Wi-Fi network while accessing Mobile Net Banking.