WhatsApp Banking – How to use, registration, benefits and more

Updated on: 19 Sep 2024

WhatsApp banking is now a basic facility offered by the majority of banks. Since its launch in 2020 in India, banks have partnered with Meta-authorised Technical Service Providers to extend their services on this messaging app.

Attributing to its convenience and instant processing, it is now growing in popularity as a banking option. For instance, you don’t have to download multiple mobile banking apps for all your accounts, as you can connect with them on one platform.

Read on to learn more about the WhatsApp banking service, its features, benefits, registration process and more.

What is WhatsApp Banking?

Partnering with NPCI (National Payments Corporation of India), many banks in India introduced this e-banking facility, which allows the WhatsApp chatting app to act as a bridge for communication between banks and their customers.

Features of WhatsApp Banking

Here are the key features of WhatsApp banking in India.

GDPR Compliance: As per the General Data Protection Regulation, all messages between banks and customers are secure against archiving and pseudonymisation
Safeguard Against Threats: Banks use additional security measures to prevent any threats and vulnerabilities to your private information
Complete Encryption: The app keeps all of your private chats encrypted; this provides security to your banking-related confidential information
User Authorisation: You can opt-in and out of the banking facility as per your requirements

Why Choose WhatsApp Banking?

These are some reasons why you should opt for WhatsApp banking.

Fingertip Banking: Banking through WhatsApp makes it easy to keep track of all your account’s status anytime and anywhere
Secure: It is a secure option that has passed all the penetrative tests
Convenient: You don’t have to download additional apps and connect all your bank accounts through one app – WhatsApp
Pocket-friendly: Banking on WhatsApp does not require any charges; you only need to register for it and have stable internet access
Digital Payments: You can even send and receive funds on WhatsApp through the Unified Payments Interface (UPI)
Simple: Using WhatsApp for banking services is easy and doable by everyone, even if they aren’t tech-savvy
24/7 Availability: This facility isn’t subject to banking hours restrictions or bank holidays, so you can access it anytime

How to Register for WhatsApp Banking

The registration process may vary depending on your bank; however, here are common steps you can follow:

Step 1: Save your bank’s WhatsApp banking on your device
Step 2: Open the chat for the saved number
Step 3: Send a ‘Hi’
Step 4: Choose your preferred language

With these steps, you can successfully register. Note that your WhatsApp number must be registered with your account with the bank. Thereafter, you may get a banking menu on your chat. You can choose any of the service options and continue responding as per your requirements.

Fund Transfer via WhatsApp Banking

Here are the steps you must follow to send money via the WhatsApp UPI option.

Step 1: Click on the ‘₹’ symbol on the recipient’s chat
Step 2: Choose your bank
Step 3: Complete the registration process by following the instructions
Step 4: Enter the amount
Step 5: Confirm the payment

Other Services Available Through WhatsApp Banking

Banks provide a wide range of banking services to their customers via WhatsApp’s direct messaging. These include:

Notification for new product launch
Update regarding their savings / current account
To make inquiries for fixed deposit interest rates and other details
Information on services related to their debit card
Chequebook service detail
Request a new chequebook
Preapproved loan offers
Wealth management
Credit card billing amount and upcoming due dates
Outstanding credit card amounts
Bill payments
Fast tag services
Request mini-statement
Loan application and approval status tracking
Checking credit card application status
Update personal details
Locate your nearest bank branch and more

With these WhatsApp banking services, you can manage your accounts conveniently and without any hassles. If you need a financing solution that’s as convenient and easy, apply for Personal Loan and get up to ₹5 lakhs at affordable rates starting at 2% per month.

In addition, you can enjoy 100% digital application, minimum documentation, no pre-closure charges and many other benefits. Download the Personal Loan App or visit our website to register now and get the funds you need in just a few clicks.

FAQs on WhatsApp banking

How do I register for WhatsApp banking?

To start the registration process, you must save your bank’s WhatsApp banking number on your phone. Once saved, you must send a ‘Hi’ text on the chat to register your WhatsApp number for the facility.

What are the features of WhatsApp banking?

The key features of the Bank’s WhatsApp communication facility are as follows:

GDPR Compliance
IT threat protection
Encryption
User control

Why is WhatsApp banking important?

It allows you to enjoy real-time messaging to solve your queries. This way, you can communicate with your bank via chat and get prompt resolutions or answers to your requirements.