In the past couple of years, WhatsApp has become one of the largest chat messengers in the world. India, with its newfound increasing internet penetration, has contributed massively to WhatsApp growth. Moreover, in recent years the platform is opening its doors to create a banking infrastructure for its users.
This blog goes over the newly coined term “WhatsApp banking,” what is it? And how you can take advantage of it.
What Is Whatsapp Banking?
WhatsApp Banking refers to any form of banking activity that happens on the platform. It is just another channel between the customer and Bank, ensuring further ease of use and comfort.
For Whom Is WhatsApp Banking For?
If you are a bank customer in India and have Whatsapp installed on the phone, WhatsApp banking is for you. But, first, ensure that your number is registered to both platforms. Currently most of the banks enabled whatsapp banking for its customers like HDFC Bank, ICICI Bank, AXIS Bank, SBI Bank, IDFC Bank, Yes bank, bank Of Baroda, Kotak Bank, IDBI bank etc.
How To Activate Whatsapp Banking?
Every Bank has different ways for you to enable Whatsapp banking, but overall these are the steps one can follow-
- You can give a missed call to the specific bank number from a registered mobile number. You can find one on your Bank’s website.
- Some banks give you the option for connecting to Whatsapp banking through their mobile app.
- You can connect through the Bank’s website while being logged into the WhatsApp web.
- You can use the SMS facility to activate your WhatsApp Banking service.
Also Read: Cash Deposit Machine Near Me
Core Business Services Available In WhatsApp Banking
- Find out your Account Balance.
- You can check the Recent Transactions conducted in your account.
- Ask for Cheque Book and other Request
- Ask for ATM’s nearby & branches based on your location information.
- Speak to customer care through the Whatsapp Business chat feature.
- You can get automated answers based on the most frequently asked questions.
Note: Not all Bank’s provide the same functionalities.
Benefits Of WhatsApp Banking
- WhatsApp makes it much easier for you to find people to do transactions with.
- One can keep track of who made the payment? And the reason behind it, as it is part of your chat history with context.
- You can do basic banking operations through Whatsapp with relative ease.
- Extremely simple yet secure platform and uses the Govt approved service.
WhatApp Banking is a new form of banking that focuses on user convenience and comfort. With more than 300 million customer base( the largest globally), The new banking paradigm is here to stay.