4 advantages of new-age banking on internet and mobile apps for your parents

If you belong to the tech-savvy Gen Y or Gen Z, chances are high that you are thoroughly familiar with using technology to accomplish everyday chores. From making video calls to family and friends to paying utility bills in seconds to transferring money instantly between accounts, you will undoubtedly be a pro at using smartphone apps to conduct almost all your daily activities.

However, your parents might not find these apps as user-friendly as you do. They might bother you often by asking you how to use mobile banking apps that you have installed on their smartphone or how to order medicines from their mobile phone. You might have tried to teach them these things several times before getting annoyed or bored.

Don’t give up! You simply need to show them the advantages of net banking, using mobile banking apps and how they can use new-age smartphone applications to manage their money in a better way and conduct all of their transactions from the comfort of their home. 

Here are some advantages of using mobile banking apps that you can cite to convince your parents.

Make payments online

Your parents could be juggling multiple monthly payments that you might be unaware of, such as payment of your college fees, mobile bills, internet bills, electricity bills, water bills, gas bills, and many more. By teaching your parents to make online payments through mobile banking apps, you can spare them the hassle of visiting various kiosks to pay bills offline. 

Transfer money anywhere, anytime

Your parents might need to transfer money to people for various purposes. If they are into some sort of business, this might be a daily activity, and they may be required to visit the bank branch regularly to deposit or transfer money in their accounts or other people’s accounts. To do away with this, simply download a mobile banking app on their smartphone and teach them how to use that app to transfer money anywhere in India or abroad within seconds. That too, from the convenience of their home or office!

Avail of internet banking

Mobile banking apps such as IDFC FIRST Bank’s Mobile App bring you a host of banking transactions at your fingertips. [NC1] Download these apps on your parents’ smartphones and show them how to use them for their daily banking activities, such as checking their account balance, requesting a new cheque book, setting up standard instructions, or downloading their account statements. Through these apps, they can also make investments in mutual funds and fixed deposits, pay insurance premiums, and apply for loans.

Do online shopping

Some mobile banking apps allow you to shop online for groceries, medicines, travel tickets, etc. Your parents will find it very convenient to order their medicines and monthly groceries through an app on their smartphone. This also saves them a lot of time and effort.

Conclusion

A mobile phone can be a practical tool if used efficiently. We can use them for our convenience as well as for our professional development. While you might know how to make optimum use of your smartphone, your parents probably don’t. So, the best gift you can give them is to teach them about the advantages of using tech-based mobile banking apps for better money management.

With IDFC FIRST Bank’s mobile banking app, you can get access to banking services anytime from anywhere and have complete control of your money in your hands!

 Internet banking is mentioned here, however we are talking about mobile banking

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.