Banking Blogs

In the age of fintech, knowing the neobanks’ meaning is key as they very well may be the future of the online banking experience. In contrast to traditional brick-and-mortar banks, these provide digital-only banking services at lower costs and interest rates. Fuelled by this low-cost model for end consumers, the global market for neobanks may …

The Electronic Clearing Service (ECS) is one of the main drivers of digital transactions in India. This facility allows customers to automate fund transfers from one bank account to another.  To know more about the ECS mechanism in banking, its types, how it works and more, read on.  What is an Electronic Clearing Service?  Here …

A Digital Signature Certificate has become a legal alternative to a wet signature. This comes after the IT Act of 2000, which mandates the use of digital signatures to ascertain the authenticity of electronic forms.  To know more about what is a Digital Signature Certificate, its types and how you can download it, read on.  …

Knowing what is IMPS (Immediate Payment Service) beforehand makes it easier to execute hassle-free fund transfers from the comfort of your home. With the rising popularity of electronic banking, IMPS stands out due to its real-time transfer capabilities. In addition, you can use this option to execute interbank transactions through multiple channels.  Read on to …

Choosing tax-saving investments has dual benefits: You can choose from various government and private options, which allow you to invest as per your goals and availability.  However, before you decide on any investment option, there are two important strategies you must consider: Read on to learn about top investment options, how much investment is needed …

Merchant banking is a crucial aspect of the financial ecosystem. Currently, there are over 200 SEBI-registered merchant banks that provide a wide range of services to their clients. These banks are very different from regular banking and from other financial institutions in several ways.  They provide services to large/mid-size businesses, high-net-worth individuals (HNIs) and institutional …

WhatsApp banking lets you access basic banking services such as balance enquiry, mini statements, account updates, service requests and customer support directly on WhatsApp. You generally need to save your bank’s official WhatsApp banking number, send ‘Hi’ from your registered mobile number and choose a service from the chat menu.  It is useful for quick, everyday banking queries, but it does not replace your …

A Vostro account allows banks to extend their services to customers when they are travelling abroad. Since a bank can’t have branches in every city of every country, this is an effective solution that helps customers residing outside the country.  Knowing about these banking services allows you to choose and open an account in a …

Wondering, ‘Can I transfer money from an ATM?’, the answer is yes and this option can come in handy when you don’t have internet access and don’t want to make a branch visit.  Moreover, it’s an easy process very similar to withdrawing cash. That’s not all. Most banks also provide a plethora of services, making …

mPassbook or mobile passbook is a facility banks provide to their customers, allowing them to keep track of their accounts. It connects your savings account or current account to your mobile, allowing you to access your statement of account instantly and remotely. This means you can know your account status anytime, without making any branch …