Benefits of Digitally Transacting through a Savings Account/Current Account

Posted on Thursday, December 8th, 2022 | By IndusInd Bank

Gone are the days of endless waiting hours at the bank to deposit or withdraw funds from your account or update your bank statements. Thanks to digital banking services, you can conveniently transact online from the comfort of your home. Now, all it needs are a few taps on the screen, and your smartphone becomes your partner for all things financial – right from paperless account opening to online transactions and easy account accessibility.  

Safe to say, when you’re looking to make hassle-free transactions through your savings account or current account, digital is the preferred way forward. Why? Here are the top 5 benefits of transacting digitally through your bank account.  

Anytime, Anywhere Banking 

Imagine standing in a queue at the grocery store, ready to checkout, only to realise you’ve forgotten your wallet at home. Or paying the bill at a restaurant to find out you’re short on cash. As long as you’ve got your smartphone, you have nothing to worry about! 

Digital transactions allow you to make or receive payments through your savings account anytime, anywhere. In fact, it also eliminates the need to carry large amounts of cash while travelling. Just log in to your digital wallet or net banking app and forget about the hassle of finding an ATM in a new city.   

Seamless Transactions 

Sure, digital banking has been around for quite some time. But the process of managing payments has become easier than ever. Earlier, even the simple task of money transfer was challenging and time-consuming. But now, you can quickly send or receive money without visiting the bank branch.  

In addition, most businesses today accept online payments, so you no longer have to worry about carrying cash. Many banks offer a single-tap payment feature on their debit and credit card, enabling faster checkout at stores.  

All Financial Offerings Under One Platform 

Digital payment solutions offer you a one-stop platform for all your banking needs. With IndusInd Bank’s digital solutions, you can enjoy various payment services at your convenience. From UPI platforms and payment wallets to net banking and online money transfer services, you have a wide range of digital payment options to choose from. 

What’s more, you can even manage your account, view online transaction history, or request banking services through mobile banking apps. This makes digital transactions a feasible option for savings or current account holders. 

Minimises Manual Intervention 

Hardly anyone loves the idea of visiting the bank or struggling with technical issues at the ATM to withdraw small amounts of cash. With digital transactions on your savings or current account, this will now be a thing of the past. 

Digital transactions through your bank account eliminate the need for human intervention. Besides, with Covid-19 still posing a threat for the susceptible, digital payments promote safe and contactless transactions, helping users avoid physical contact at the bank or ATM. 

Quick Access to Transaction History 

Your first step towards financial management starts with keeping track of your finances. With cash payments, maintaining a record of every expense can be a challenge. But if you transact digitally, you can stay on top of your expenses through easy access to transaction history.  

Since digital banking systems automatically record all your transactions in a single place, you can even practice better financial discipline. Besides, you receive an SMS alert or notification for every online transaction through your bank account, minimising the risk of fraudulent activities.  

The Bottom Line 

Without a doubt, digital payments have made our lives easier. Using your savings or current account to pay and receive money online not only offers you easy access to banking services but also reduces those exhausting trips to the bank. 

With IndusInd Bank, you can access a host of convenient digital solutions. Whether you want to transfer funds, shop online, or pay your bills, you can avail our innovative digital services. Get in touch with our representatives to know more.  

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Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision.  IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.