15 Dec 2020 17:48

Joined:	12/05/2008
Level:	Gold
Points:	32387

Points:	5

Banks' apps to make transactions without opening an account

Even those who do not have a bank account can make payments through bank apps. Like Google Pay and Phone Pay, the UPI system is set up in the apps for this.

The service was launched by ICICI Bank. Those who do not have an account with ICICI Bank can also download and use the bank's iMobile app. In addition to money transactions, the app allows you to get a credit card, apply for a live loan, open a savings bank account, make a fixed deposit, invest in a mutual fund and pay insurance premiums.

State Bank of India has recently launched an app to provide these services. This app is named a Yono App. Yono SBI lets you book movie tickets, recharge, deposits, shop, travel, IRCTC ticket booking, money transfer, etc.

In order to download and use these apps, we need to upload personal data such as our name phone number and date of birth etc. Do you use any bank app for transactions? Is it secure?.

#717921

15 Dec 2020 21:51

Joined:	10/12/2016
Level:	Platinum
Points:	65575

Points:	5

All the banks have got a mobile app and people are using them frequently. You have to register in them only through your registered mobile number with the bank and through that only bank checks the genuineness of the customer. If one does not have an account there then also one has to register through ones mobile number before using that app. Banks claim that these systems are sturdy and there is no insecurity for the customer. But we do not know when the hackers in the internet can do havoc in the system and siphon out some money from the bank. Online money transactions are told to be very safe and secure as banks take a lot of precaution in this. Still people have reservations on this and we have to be very careful and alert and have the phone number of the bank or their customer service where such problems are being encountered.

Knowledge is power.

#717953

16 Dec 2020 12:40

Joined:	02/06/2009
Level:	Platinum
Points:	94364

Points:	5

Correct. Almost all banks are coming out with their own mobile apps which can be used by people by registering themselves using the mobile bank. HDFC Bank is giving an account with your mobile number as the account number. All nabks say these are all safe. But the user should also be very careful and he can't give OTP and other secret information to the person who calls you on your phone and ask for these details. If somebody says they are genuine persons also, you should ask them to disconnect and you can call your bank. There is no relation for these apps with your bank account in the same bank. You can link these apps with your other bank account also if you want.
However, we should be careful and we can't take always the transactions are safe. We should not use these apps using public wifi. You can use only with your mobile Data or from your house where you will have an internet connection that is accessible only in your house,

drrao
always confident

Banks' apps to make transactions without opening an account

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