How to bank using mobile apps as easily as online shopping?

Mobile banking is the most convenient way of banking. It has become so convenient to bank on our mobile phones that the experience is comparable to that of online shopping. An excellent mobile banking app enables secure and fast transactions and offers various other services only accessible upon physically visiting a bank branch a few years back.

Features of mobile banking apps

Before we explain how you can easily bank with mobile banking apps, let us see the features of mobile banking apps. We’ll take IDFC FIRST Bank’s banking app as our example and learn the features of the banking app.

  • Convenience: The current banking app allows you to securely add funds from any bank account and open a free online bank account.
  • Auto-pay feature: You can optimise your net banking. Set up the auto-pay feature on the current banking app, and never miss a bill payment.
  • All bank accounts in one place: The UPI-enabled (Unified Payments Interface) feature allows you to have all your bank accounts in one app.
  • Invest in mutual funds: The new mobile banking app does more than facilitating personal net banking. You can also invest in mutual funds via the digital banking app and start with a monthly SIP (Systematic Investment Plan) of as low as ₹500.
  • Smart statements: Track your money and know where it is going by downloading ‘smart statements’ on the current banking app.
  • Manage upcoming expenses: Plan your personal net banking by managing and viewing your upcoming spending.
  • FD in two clicks: Open an FD (fixed deposit) account in just two clicks with the mobile banking app’s seamless personal net banking feature.

How to start mobile banking through the mobile banking app?

Here are the six steps to be followed to set up your personal net banking with IDFC FIRST Bank’s new mobile banking app:

  1. Login and register yourself

Download IDFC FIRST Bank’s new mobile banking app and log in using your registered mobile number. It is the mobile number linked to your IDFC FIRST Bank account. You will soon receive an OTP (One-Time Password) on this number.

  1. Enter your customer ID

Authenticate yourself on the new mobile banking app with your customer ID. If you cannot find your customer ID, check your welcome kit. If that does not work, you should find it in your welcome email or on account statements shared by the bank on your registered email ID. If you still cannot find it, opt for the ‘Get Customer ID’ option, and you shall receive it at your registered email address.

  1. Authenticate your account

You can authenticate one of your accounts by entering your savings account number, current account number, or loan account number. You can also enter your debit or credit card number to authenticate yourself. Your account number can be found in your welcome kit, welcome email, or the account number shared by the bank on your registered email ID.

  1. Verify your registered mobile number

Verify your registered mobile number on the current banking app by entering the OTP sent to that number.

  1. Set up your MPIN

A four-digit MPIN helps you log in to the new mobile banking app faster. Set up your MPIN to enable quick logins.

  1. Log in securely using MPIN

That’s it! Your mobile banking is set up. As a final step, check whether you can log in securely with your MPIN.

Is the IDFC FIRST Bank mobile banking app secure?

If it is security that bothers you, rest assured. IDFC FIRST Bank’s mobile banking app ensures that you benefit from a secured personal net banking experience. You can choose to set up your fingerprint and log in to the new mobile bank app with your fingerprint to add another layer of security.