In the past people who wanted to save money and use banking facilities had to open a savings account by visiting a bank. However, with the advent of online banking, there is now a third option: a digital savings account is an online version of a traditional savings account but comes with additional benefits and features.
Leading banks, like IDFC FIRST Bank, have tailored or transformed their services to make it suitable for the world of digital banking- the need of the hour, beginning a new era of Customer convenience and comfort customers. Now, you don’t have to visit a physical bank branch or fill out complex paper forms to open an account. Instead, you can open and manage their accounts entirely online, from anywhere in the world, using your smartphone or laptop.
From instant and remote registration processes to a 24*7 banking facility, let’s take a closer look at what a digital savings account offers and how it could benefit you.
- Easy to open and manage an account
A digital savings account is easy to open and operate. The entire digital account opening process is paperless and can be completed from the comfort of your own home. All you need to do is fill out an online form and submit your identification documents electronically. Once your account is open, you can manage it online, from transferring money and paying bills to handle investments.
- Access to various digital services
Many premium banks like IDFC FIRST Bank offer digital savings account for 24×7 online transactions. With mobile banking and internet banking services, you can quickly access fund transfers, statement generation, bill payments, and more. You can bank at your convenience and enjoy free transactions like IMPS, RTGS and NEFT. A digital bank account can be a helpful gateway to your personal finance needs, from investments to long-term savings.
- Free from visiting any branch
There was a time when customers had to visit the bank’s branch to use banking services. It was time-consuming and inconvenient. But today, all the functions and features of savings accounts are accessible through a website or mobile app. Everything from paying bills to funds deposits can be done through the online interface, so there is no need to take time out of your busy schedule to visit a bank branch.
Moreover, you can also use emergency services such as blocking a misplaced or lost card to transactions.
- Multiple rewards and cashback for every transaction
A digital bank account does not just carry out your regular transactions. It also rewards you for making transactions. For example, with IDFC FIRST Bank’s digital savings account, you get exciting rewards and cashback for every transaction you make. In most cases, banks give customers points for money they spend, which can be redeemed for cash back, gifts, or other prizes.
With all these benefits and features, switching to a digital bank account can be a good idea to get ahead of your finances. Moreover, you can enjoy various benefits, including free airport lounge access, daily high withdrawal limits, free ATM Transactions etc., as digital bank savings account holder.