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7 Mobile Banking Tricks And Tips You Do Not Know!

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By Author: Shashank Bhaskar
Total Articles: 13
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If you are not using your smartphone for banking purpose, you are missing out on the latest financial trends. Mobile banking apps provide you instant fraud alerts, notification for paying bills and recharges, helps you save for a vacation, and even locate the nearest ATM. They literally save your time and money. Many banks have delivered dedicated apps to customers for years. Not only can you check balance and make payments, but you can analyse your budget and make accurate financial decisions.
Mobile banking continues to add more and more features, appealing to college students, entrepreneurs, senior citizens, and beyond.
Without further ado, here are some banking apps tips and tricks you must know:

Cheque deposit: Do you need to make that trip to the ATM? Not required for cheque deposits. Almost all m banking app endorses cheque deposit by using the mobile camera, in case you want to deposit it remotely. There are, however, limitations on the amount value for banking app deposit.

 

Control debit card spend: Guilty of overspending owing to a debit card? You can prevent the same and the associated fees using the banking app as you set spending limits here. When you cross the said limit, the app sends you a notification.

 

Send travel notice: Frequent travellers know that whenever they head out of the country, they should inform the credit card companies not to block the purchases abroad. Many banks allow you to add trip notification months in advance rather than going through the voice menus on the phone. Pick the dates when you will be away, where you will be going, and the cards you will use (debit or credit cards). In most cases, the app will provide you information on any foreign transactions.

 

Pay friends: There is no need to go to ATM to reimburse cash for friends or for them to wait for receiving funds. Nowadays, most of the mobile banking apps let you pay individuals immediately, from one account to the other. You need not be customers of the same bank but must have access to the same third-party service.

 

Split the cheque: The best part about mobile banking today is you can connect it to your Google Pay. This has enabled you to split cheque or rent bills with up to five people. You need not worry about missing out the deadline. It is an affordable option.

 

Check credit score: The best way to beat the data breaches is by periodically checking your financial health. Most of the apps, assuming you meet the minimum balance requirement, lets you check your credit score for free.

 

Report stolen credit card: Hopefully, it should not happen ever, but if your card gets stolen, the quickest and easiest way to close them is the m banking apps. In case of theft, you can order a new one through the app itself. If you are unsure whether you lost it or not, you can also temporarily lock the card and then unlock it when discovered. Similarly, if you notice suspicious account activity, you can dispute the transaction immediately and avoid those long-waiting calls.

Truly banks today live up to the quote, ‘time is money.’

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