The advantage to link your bank a/c with payment apps.

Link your bank account with payment apps mean Digitization of life. It is the conversion of data into digital format with the adoption of technology. Digital payment apps reduce human error. It has also benefitted customers by facilitating the cashless transaction. There are various advantages of linking bank account with payment apps:-

 

Real-time transfer of funds-

 

Digital payment apps allow you to transfer money between accounts much more easily and check on your available funds before spending money. You also have the option of transferring money between different banks online. But every bank may limit the number of online transfers and may hit you with a fee if you go over.

 

Access to bank statements-

 

If you link your bank account with your payment apps it helps you to access your account history and transaction from anywhere. This is the quickest way to check your account balance and get the information if a transaction has cleared your account. You can also find out the amount of transactions if you have lost your receipt.

Pay Your Bills Online-

 

You can use your bank's online apps to pay your bills online, it is the quickest process to pay your bills and reduce the use of cheque. If you pay any bills by using cheque you need to wait for 3-4 days for it to be cleared, it is a very lengthy process to pay any bills.

 

Easy Access and 24*7 availability-

 

With the help of a payment app, a consumer isn't limited by working hours, bank branches, and ATM locations, they can easily access and exercise control over their money whenever they want, wherever they are.