Transfer funds easily with a mobile banking app

Banking sector is currently in transition with the use of mobile technology. The latest internet banking have helped enhance the user experience and accessibility. Customers can transfer money from one bank to another using money transfer applications. The introduction of the IDFC FIRST Bank mobile banking app has made money transfer easier on a smartphone.

How the IDFC FIRST Bank Mobile Banking app helps customers transfer money? 

Using the IDFC FIRST Bank mobile banking app, you can transfer and receive money through IMPS, NEFT, or RTGS payment methods. You need to download the app from Google’s PlayStore or Apple’s App Store to use this facility. Once you install the application on your smartphone, you can open a free online bank account. The online money transfer option enables you to:

• Transfer money to an existing beneficiary
• Transfer money to a new beneficiary using the ‘One-Time Beneficiary’ option
• Provide standing instruction to pay money on a scheduled date to selected accounts online
• Automatically set money transfer using the ‘Repeat’ feature
• Transfer funds to other bank accounts and own accounts in the same bank or different banks

A mobile banking app offers utmost security during online fund transfers with multiple security systems and an OTP system. This facility ensures the maximum safety for customer-sensitive data and prevents cybercrimes. Customers can enjoy quick, effortless, and secure fund transfers using the app.

What are the kinds of fund transfer facilities available through the app?

• IMPS:Transferring money using the IMPS facility is available round the clock. You can transfer money instantly through the mobile app and the internet banking facility if you want to transfer up to INR 2,00,000. The customer can send and receive money instantly anytime, anywhere, and receive immediate confirmation on the registered mobile number.

• NEFT:The IDFC FIRST Bank mobile banking app helps you send money to a third-party account of any bank through NEFT (the National Electronic Fund Transfer service) facility. This facility allows you to send money between INR 1 and INR 20,00,000 to any bank, which is a member of the RBI NEFT scheme.

• RTGS:You can transfer an amount between INR 2,00,000 and INR 20,00,000 using the Real-Time Gross Settlement System (RTGS) payment method safely and securely. You can transfer money immediately to a third-party account in any bank, which is a part of the RTGS system.

• UPI:Powered by the NPCI, the UPI facility is the most simplified online transfer of money. Using the IDFC FIRST Bank mobile app, the users can pay through a single interface payment system. The UPI payment system is a channel to link bank accounts to the specified mobile app. Using the app, the user can send and receive money.

The UPI facility does not require confidential user names and passwords. Instead, it uses a single identifier and virtual payment address linked to the mobile number.

The IDFC FIRST Bank mobile banking fund transfer facility is more secure than any other means of the payments system. You can transfer money only through your registered mobile number. Therefore, it is difficult for hackers to steal customer-sensitive data.