Digital banking becomes handy when it is difficult to go to the bank and complete the simple task of sending money. Now people can save travel time and costs. Working-class seniors are also very comfortable doing banking outside of their comfort zone because of the facility of Digital Banking.
In this blog, we will discuss 6 Reasons Why Digital Banking Is Trending in 2021
Avoiding Visiting Bank
Traditional banking means visiting the bank for every transaction and recording every paper statement. With Digital Banking, customers can now receive all their transactions by email on a monthly basis and go paper-free. Customers can also access their account history at any time by logging into their NetBanking account.
Reminders and notifications in traditional banking meant keeping a check or recording calendar dates. With Digital Banking users can now receive default notifications regarding banking offers and schemes via SMS and their transaction details via the app or email.
With Digital Banking customers can also set up automatic payments for invoices so that they don't have to remember expiration dates for invoices. Plus customers can for electricity, telephone, gas, and credit cards from their phones at the touch of a button.
Customers don't have to go to the bank to report a loss or credit card with the introduction of Digital Banking. They can easily report a lost or stolen card, activate a card, postpone card loss, and request a card replacement with a single click of the online button.
Decades ago, online shopping was very less and considered limited to the elite class of society. But with modern brands like Amazon, Flipkart, Paytm, and other brands that have digitalized payments and promoted online payment, Online Shopping is booming. Customers now have access to a lot of brands from affordable ones to expensive ones, and they can shop whatever they need...while paying online for it.
Digital Banking has helped remote areas in a big way. If there's any financial emergency, customers don't have to wait for the bank branch to open, which was the case in traditional banking. With online payment portals reaching the interiors of the nation...users now have started adopting cashless methods of paying with the click of a button.
Filing tax returns has traditionally meant endless paperwork. With Digital Banking, customers can now complete their IT returns and receive tax returns using digital banking. This saves the hassle of filing your tax return. Customers can also pay government fees online.