How to make the best use of a banking app to transfer funds
The introduction of online banking facilities made transferring money become easier. You can transfer money from one bank to another by using an online bank transfer app on your mobile. The IDFC FIRST Bank mobile banking app was designed to provide a hassle-free money transfer facility to the customer with just three clicks. The customer can utilize this mobile banking app to transfer money through IMPS/NEFT/RTGS.
What are the money transfer services available through the banking app?
The mobile banking app helps you to transfer money conveniently online. To avail of the services of this money transfer app, you need to download the IDFC FIRST Bank Mobile bank app from the Google store and get it installed on your mobile by following the instructions. However, you should have an account in the bank to avail mobile banking money transfer facility. The services provided to the customer through the net banking portal are:
- Money transfer facility to an existing beneficiary
- ‘One Time Beneficiary’ option to transfer money to a non-existing beneficiary
- Scheduled money transferring facility to selected accounts online.
- “Repeat” Feature to set money transfer automatically for a specified period
- · Fund transfer facility to own or other Bank account.
- · Fund transfer to Non-IDFC FIRST Bank accounts
The IDFC FIRST bank online money transfer app offers easy fund transfer multiple facilities that allow the customers to enjoy quick and effortless fund transfer most securely.
IMPS: You can transfer money instantly from one account to another using the IMPS facility. This service is available online 24/7 through the IDFC FIRST Bank mobile app and the internet banking facility. This facility allows you to transfer ₹2,00,000 conveniently. Using the IMPS facility, you can instantly send and receive money anytime, anywhere on your mobile phone, and receive instant confirmation and notification of payments.
NEFT: By using IDFC FIRST Bank mobile banking app, you can send money to the bank account of a third party through the National Electronic Fund Transfer service or NEFT. You can send money between INR 1 and INR 20,00,000 to any bank account from a bank, which is a member of RBI’s NEFT scheme.
RTGS: If you want to transfer more than ₹2,00,000, you can use the Real-Time Gross Settlement System (RTGS), which facilitates transfers of money ranging between ₹2,00,000 and ₹20,00,000 in the safest and secured way. Your money will be transferred immediately to any third-party account from the bank that is a member of the RTGS scheme.
UPI: The UPI facility is the most simplified system to transfer money. It is powered by the NPCI and using a mobile banking app, you can make payments through a single interface payment system. The UPI is a channel that links many bank accounts into a specific mobile app and allows the customers to send and receive money. Unlike the other payment facilities, the UPI payment system does not require the customer to enter confidential details such as bank account numbers or card numbers. The system uses the single identifier and virtual payment address linked to the mobile number.
Most importantly, mobile banking fund transfer is more secure than any other means of money transfer. You can conduct a mobile banking transaction only on your registered smartphone or tablet. Furthermore, it is difficult for the fraudster to steal sensitive data as the customer is not using any public device or network. So, make the best use of the banking app to transfer money by using the service available on the app.
