Is Opening A Zero-Balance Account On A Mobile Banking App Good Option?



Until recently, any bank work had to be done by visiting the bank personally. With the advent of smartphones, bankers decided to make banking easier for people. They came up with apps for people to transact their money effortlessly, and with much less paperwork. Banking apps have made banking smoother, faster, and safer along with providing customer-friendly services too. In this article, we will tell you about the benefits of opening a zero-balance account on a bank account opening app.

You get a virtual debit card

When you open a zero-balance account through a banking app, you get a virtual debit card instantly. You can use this virtual debit card to pay your bills, shopping expenses, traveling costs, and much more. It gives you the ability to settle your money matters on the go. It also reduces the clutter of managing too many debit cards.

No need to pay account maintenance fees

When you complete a zero-balance account opening procedure through a banking app, you do not need to pay money for the maintenance of your account. As your account is credited with your salary or your business venture earnings periodically, the bank does not charge you the account maintenance costs. Thus, you save money.

Earn interest up to 4% p.a. on bank account balance

Some banks offer their customers a better deal on their bank balance than other banks. When you open a bank account on a bank account opening app, the money in your account qualifies to earn up to 4% p.a. interest. Thus, you earn a significant amount of money by letting your money pile in your bank account.

Get free quarterly chequebooks

When you keep your bank balance healthy on monthly basis, the bank gives you the privilege to maintain a 25-leaf checkbook for every quarter of a year. You can use this checkbook to settle your monetary transactions; be it the money you owe to somebody or your shopping purchases. This service makes your life much easier.

Get home banking facility

When you open a zero-balance bank account with a bank account opening app, and maintain an average threshold balance in it, the bank gives you a value-added service like the home banking facility. The bank sends one of its representatives to your house to help you with your banking tasks. Through this service, you can manage all of your banking matters from the comfort of your home.

Get free unlimited ATM withdrawals

Usually, when you open a zero-balance bank account as directed by the bank, you get to use the bank’s ATM services. But these services are chargeable. If you keep a healthy bank balance, you get to use these services for free and as many numbers of times as you need to. Remember that your bank may ask you to use these services from the ATMs of local banks only; not from the multinational banks.

So, these are the benefits you get when you open a zero-balance account using a bank account opening app. Have a nice day!

Read More:- Here’s How A Mobile Banking App Can Make Life Easy


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