Advantages of Online Banking : Know The Top Benefits | AU Small Finance Bank
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Advantages of Online Banking You Must Know

    Online banking offers a wide range of services. Convenient and easy to use, this option gives you a hassle-free banking experience in the comfort of your couch.
    Internet banking, also known as online banking, is an electronic payment system. It allows you to make financial transactions via the internet. Convenient and easy to follow, this banking option not only makes life simpler and easier, but also offers superior financial security and peace of mind to the user.
    Here are the advantages of online banking:
    • Transact in the comfort of your home

    You can do transactions and payments right from the comfort of your home, at the click of a mouse. It is much faster, more convenient and safer as compared to going to the bank for the same.
    • Track payments/balance information

    Gone are the days where you had to wait for a bank statement to know what’s going on inside your bank account. With online banking, you can get real-time updates on all your account activities. This service is free. You can view, download and print the statements out of your device whenever you want, as per your convenience.
    • Available 24/7

    Online banking is available 24×7, throughout the year. You can check your bank balance and make fund transfers instantly, as long as you have a stable and safe internet connection.
    • Reduced fraud and higher security

    Online banking is secure enough to keep your money safe and your mind at ease. Sophisticated encryption technology is used to prevent unauthorized access to any of your personal data. Moreover, your password is protected and secured by identity confirmations.
    However, just remember to change your password regularly and subscribe to mobile notifications instantly. These notifications will alert you quickly of any suspicious transaction. Not only that, even the bank will alert you of the unsuccessful login attempts to your net-banking account.
    • Various offers on payments and purchases

    You can avail great deals on your debit cards that are spread across various brands and services. And if you are an online shopper, you have an added advantage to exclusive deals and offers. 
    • Schedule multiple payments/transfers

    Online banking allows you to schedule multiple payments/transfers, from a single debit account. It’s streamlined, faster and more reliable and secure than other methods. It's more convenient than going to a bank and doing several transactions separately.
    • Open fixed deposit and recurring deposits online

    Online banking services help you open fixed deposits and recurring deposits from wherever you are. When you open an FD or an RD online, all the processes become more seamless and convenient. You can set your transaction date, view your returns, choose the tenure of your investment, etc, with the click of a few buttons.  In many cases, you are likely to receive higher rates of interest than if you had chosen to approach the physical branch of the bank.
    • Investing in mutual funds

    Online banking is the easiest way to start your SIP mutual fund investment. The process is hassle-free, error-free, paper-free and less time-consuming. Moreover, you have the control to change, start or stop the investment at any time. 
    • Applying for IPOs

    Bank account holders can make an application for an initial public offering IPO through net banking. The online application procedure is simple and easy to follow.
    • Travel bookings

    With online banking, you can book your flight, cab and hotel tickets in just a few minutes. This means you can make a reservation whenever it fits into your schedule. This eliminates the tedious task of standing in a long queue. It also means fewer inquiry phone calls and less stress.
    Online banking allows you to experience hassle-free proceedings including for verification of your KYC documents. You only need to upload your documents once and everything else is taken care of automatically.
    The popularity of online banking is growing. The list of services and conveniences it offers is long and incredible. Sign-up immediately to take advantage of the many benefits of online banking services. It will make your financial life easier and simpler forever.