Finance

Exploring the Must-Have Features of Top Banking Apps in 2024

In 2024, banking apps will make it easier for customers to manage their money on the go. As mobile technology advances and consumer expectations rise, banks upgrade their apps to remain competitive. There are a few key features that the leading banking apps are likely to offer their users going into 2024.

Features of Top Banking Apps in 2024

1.   Instant Adding of Funds from External Accounts

Say you’re out shopping with friends and want to contribute your portion of the bill but don’t have enough amount left in your account. Top banking apps for 2024 will allow you to transfer funds into your account as needed instantly. Whether tapping into a savings account at the same bank or linking to an external account at another bank, the ability to move money on demand is highly convenient.

Rather than waiting 1-3 business days for transfers to clear as has been standard, advances allow money to be moved immediately between accounts, eliminating that waiting period. This gives ebanking customers flexibility and control over finances in real-time from the convenience of an app.

2.   Auto-Pay for Bills

One of the most convenient features that has become widespread among top banking apps is the ability to set up automatic payments for recurring bills. This eliminates the need to manually pay monthly bills—a tedious task that often incurs late fees if forgotten.

Banking apps allow users to link accounts to various bills and set specific dates/amounts for automatic payment. Utility bills, cable bills, loan payments, and more can all be easily automated. Customers can save time while avoiding late charges with this auto-pay function. An internet bank is a must-have choice for busy people in 2024 and beyond!

3.   Upcoming Transaction Insights

Savvy banking apps help users manage their cash flow not just in the present time but also into the future. With upcoming transaction insights provided in-app, customers can view pending debits/deposits and see their account balance projected at certain dates based on upcoming activity.

This lets people plan ahead, knowing when extra deposits may be needed to avoid overdrafts or when an expense is due.

4.   Downloadable Smart Statements

Lastly, banking leaders are making account statements more intuitive and useful. Smart statements provided in top apps offer customisable downloads that intelligently categorise spending. Rather than simply showing pages of individual transactions, smart statements can break down expenditures by groups like dining, entertainment, transportation, groceries, etc.

For those looking for top banking apps, consider choosing the IDFC FIRST Mobile Banking App. Having a personal online bank comes with great convenience and benefits.

5.   All Bank Accounts in One Place

With the UPI feature on the IDFC First Bank mobile app, you can gather all your bank accounts in one convenient place. UPI, or Unified Payments Interface, simplifies your banking by allowing you to link multiple accounts to the app.

This means you can manage all your transactions, check balances, and make payments from different banks through this mobile app.

The Bottom Line

As mobile banking continues its meteoric rise year over year, the banking apps that focus on customer needs through intuitive features are sure to dominate. Offering higher interest yields, instant fund transfers, predictable auto-pay, transparent projections, and smart statements gives people the insight and control they demand over their finances in 2024 and the upcoming decade.

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