Digitisation has influenced many sectors, and banking is no different. With the developments in technology shaping up every day, other banks have jumped on the bandwagon. As a result, digital banking in India has become synonymous with doing any banking activity in recent years.
It has also become the need of the hour owing to challenging circumstances where visiting a bank is a hassle. You need not be tech-savvy to use virtual banking services. You only need to enable it when you open your saving account and get started. This involves simple steps:
- Go to your bank's official website and log in. If you are a new user, get yourself registered.
- Click on the option of new user and navigate to internet banking
- You now must fulfil the authentication protocol by providing your customer identification number and account number. You find the customer ID on all your banking books like cheque and passbook.
- Then, enter the OTP sent to your registered mobile number. Some banks also ask for the debit card number depending on their terms.
- Upon successful verification, you get directed to a page to create a unique password for digital banking
Besides getting internet banking activated, take precautions for safety while using it. These security measures are also applicable for online saving account opening:
- Check the authenticity of the bank's portal before entering any information. Many hackers create a replica to steal information. Also, never visit the website through any promotional links you get on your email.
- The portal should start with "HTTPS" to show that it has the SSL (secure socket layer) certificate. It means your information and activity on the site is protected. This is not the case with websites starting with "HTTP".
- If you plan to use the banking apps provided, check for the developer details and comments to confirm its legitimacy.
- Avoid using public servers to conduct any banking transaction. Instead, always use your mobile data and home-based Wi-fi.
The entire process of opening an online bank account and enabling the net banking services gets completed within minutes. It is a simple process that you can do from your home's comfort. As the overhead costs decrease for banks, they pass on the benefits to you as less or no service charges, no penalty, etc.
The benefits you get differ based on the bank you choose. If you go with an online-only bank, you enjoy some additional perks and convenience. Nonetheless, online banking enables you to conduct almost all transactions from your smartphone, desktop, or tablet. For example, you can get your account information, order a chequebook, update details, etc., within a few clicks.