Many business entities in India have discovered that using a mobile banking app incredibly useful and convenient today, just the way it is for an individual user (retail banking customer) as it helps them save time and manage expenses more efficiently. As an age-old practive companies used to send their representatives to the bank to withdraw cash for wages and salaries or deposit cheques and demand drafts. However, the advancements of ebanking app now empower them to carry out a host of transactions like various payments and fund transfers completely online.
Most small business owners find net banking registration on a mobile banking app beneficial as it helps grow their business and saves a lot of time. For instance, IDFC FIRST Bank offers a beyond banking suite for a business to help ease its operations. Your small business can have benefits using the IDFC FIRST Bank mobile banking app. Here are some major ones:
- Single-view dashboard
With an ebanking app, you can have a dashboard showing all your bank accounts on the same page. It also shows the latest transactions and balances and allows you to download a statement for analysis.
- Open a current account
Your business needs a current account to receive funds, make payments, and do other financial transactions. IDFC FIRST Bank offers different types of online bank accounts to help your business grow in the future. Some of the popular ones include:
- Freedom Current Account
- World Business Account
- Merchant Multiplier Account
- Startup Current Account
For a startup or growing business, these current accounts offer benefits like zero transaction charges, easy access through the banking app, GPS-enabled doorstep banking, payment solutions, trade forex solutions, free outward cheque returns, receivable solutions, and a simple charge structure.
To apply for an online bank account on the mobile app, you need to provide your location, full name, mobile number, and email address. You will have to verify the details by providing the OTP received on your registered mobile number. Moreover, you have to submit the necessary documents related to your business.
- Easier fund transfers and payments
IDFC FIRST Bank offers quick processing of payments through the IDFC Internet Payment Gateway, which is a mobile responsive payment page. With this payment solution, you can have a customizable payment page that sync with your business or brand guidelines. Moreover, the 99.99 percent payment gateway uptime, vault card storage, and token system ensure protection of your confidential data.
Other than online fund transfers, the banking app allows you to make bulk payments through NEFT, IFT, and RTGS. For bulk payments, you can have single-debit and multi-debit facilities for processing salary payments and vendor payments respectively.
- Set up alerts
With IDFC FIRST Bank mobile banking app, you can view your financial transactions in real time. In case of any payment received or paid, it will send alerts in text messages. Also, any unauthorized intrusions into your business accounts will trigger a red flag. With advanced security features like multi-factor authentication, face screening, and biometrics, you can ensure the security of your accounts.
- Easy tracking
With mobile banking, you can track your payments and deposits easily. When making a funds transfer or bill payment, the transactions generated can easily be viewed, making tracking of expenses and incomes effortless.
If you want your small business to grow, download the IDFC FIRST Bank mobile banking app to have a unique business banking experience.