Earlier, banking operations used to be quite slow and repetitive. Even small operations such as depositing and withdrawing money used to take so much time and customers had to provide the information twice or thrice at various counters in the bank. Visiting a bank meant you had to spend at least 2 to 3 hours to get the task done. Clearing a cheque was not so easy as well. It used to take minimum 3 days if the cheque is from the same bank and 5 days for another bank. In such situations, people stuck in emergency situations suffered a lot where they needed urgent cash from their family, friends, or work relations.
Since that era, banks have evolved their processes significantly. Today, you can withdraw money from your branch without any fuss. Cheques are cleared between 1 to 3 days which is quite faster relative to the earlier days. However, you still have to wait in queues in a bank for various tasks. The only solution to this problem is mobile banking and internet banking that allow you to perform all banking operations without being physically present at such financial institutions. You can request, send, and receive money from your mobile phone. You do not even need a physical passbook as you can have the same in your mobile phone.
In simple words, mobile banking is a facility that allows you to perform all the banking operations from your mobile phone or smartphone. Once registered for this service, you will receive SMS notifications for every single credit and debit done for your linked bank account. You can also download and use all the features of mobile banking apps offered by your bank. Most banks have integrated their mobile banking and internet banking services in their mobile apps while some have introduced a few unique features in their mobile banking segment.
HDFC Bank Mobile Banking:
One of the leading private sector banks in the country, HDFC Bank, offers a wide variety of mobile apps and features in its mobile banking segment. These can be divided into two categories.
HDFC Bank Mobile Banking Apps:
The bank offers 8 different apps for the convenience of customers as per their specific needs. The apps are available for Android, iPhone, Blackberry, iPad, Android Tablet, Windows Phone, Windows Tablet, etc.
Mobile banking apps help you check your account balance, transfer funds, make bill payments, and many more. The app offers you 125+ transactions anywhere, anytime. It gives you bank account access anytime and as secure as net banking. You can create a personalised menu of 10 favourite transactions through the Smart Menu feature. The locator feature allows you to locate HDFC Bank branches and ATMs easily. This feature also shows offers on debit and credit cards in your city. The app also features feedback and contact options that can connect you to the HDFC support 24/7. Apart from the basic features such as 125+ transactions, the major feature of these apps is the safety they offer.
The bank has HDFC Bank Mobile Banking LITE App for those users who do not have regular access to the internet. After the installation, the app works without the internet facility. The size of the app is even less than 1 MB. This is quite surprising as this is a unique phenomenon in itself. However, this does not mean that you have to remember long toll-free numbers or SMS codes to avail the mobile banking facility.
The app does not require a login ID and password and it works on the mobile number you have registered with the bank. The app can be used in either English or Hindi. This is entirely subject to the preference of the user. This app allows you to check your account balance, generate bank account mini statement, request a chequebook, request account statement, stop payment for your cheques, view FD summary, and create mobile banking/net banking password.
HDFC Bank Mobile Banking Features and Facilities:
The bank offers a number of features and facilities and some of those have their unique advantages as well. The facilities and features of the HDFC Mobile Banking are explained here.
- Missed Call Recharge: This facility is available for all HDFC Bank customers having smartphones and feature phones. Missed call recharge is one of a kind facility offered by HDFC Bank. It allows you to recharge your prepaid mobile number with your account balance instantly. You can also add family members or friends in the app menu and authorise them to recharge their prepaid mobile phones through the missed call facility. However, the amount of the recharge will be deducted from your bank account.
This seems like a disadvantage for many but this can be in your favour as well. You can set a favourite recharge amount for yourself and for the added members as well. And every time you or anyone else avails the facility, only the designated amount will be deducted from your bank account. The app is completely secure as all authorisations happen after the customer’s authorisation only.
The service can be activated by sending an SMS to 7308 080 808 mentioning ACT <operator code> <last 5 digits of your account number>. You can add as much as 5 mobile numbers in the favourite list. The amount of recharge ranges from Rs. 10 to Rs. 500. And 1 mobile number can only be connected to one account number.
- mPassbook: This is a virtual passbook similar to your physical passbook. The feature is embedded in HDFC mobile banking apps. It offers all the benefits of your regular passbook but without its disadvantages. Your physical passbook is always in danger of physical damage or being misplaced but mPassbook has advantages over the physical passbook. You can check your account status and update it anytime you want. This can also be used as a tool for tracking your expenses and control your spending habits.
You can tag your specific expenses and add comments, so that you can refer to them in future. mPassbook works as a financial planner that maintains the records of every debit and credit in your bank account. Statements generated by mPassbook are interactive and you can categorise them to check the particulars on which you are spending the most or least. You can also break up transaction on the basis of income and expenses. mPassbook comes with a security PIN or pattern lock. This means you do not have to use your login ID and password again and again. It does not require the internet after one-time download and registration, apart from updating the app. Once it is updated, you can view and use it anytime you want.
- SMS Banking: This facility allows you to view your account status anytime and from anywhere without an internet connection. The facility can also be used for checking the FD status as well. Customers can type the specific keyword for desired operations. The keywords can be BAL for balance enquiry, TXN for mini statement, and CST <6-diguit cheque number> for cheque status enquiry. The keywords must be sent as SMS on 5676712.
- Toll-free Mobile Banking: This comes with an additional feature of missed call banking that offers a few additional services as well. The customers can use different toll-free numbers for varied operations such as 022 6160 6161 for account balance, 022 6160 6161 for mini statement, 022 6160 6161 for chequebook request, 022 6160 6161 for account statement, 022 6160 6161 for mobile banking app, and 022 6160 6161 for email account statement.
HDFC Bank Mobile Banking Security Features:
The basic security feature is that no information is stored on your phone or SIM card. This makes your confidential banking information completely safe even in the case of a lost phone or theft. If you lose your phone, you can call HDFC customer support and your old IPIN will be deactivated and you will get a new IPIN. The security measures on HDFC mobile banking app are unparallel. The bank has employed 128-bit SSL protection for safeguarding your account information. In the case of entering a wrong IPIN 5 times, the bank will automatically block the use of IPIN.
To protect your HDFC bank account from theft and frauds, you should be aware at all times and follow a set of rules. You should never share your login ID and password with anyone. Your information is safe with your family members but try to keep it confidential as they can lose the information as well. And always confirm the fund transfer details with both sender and the recipient to avoid any false transactions. This is because a fund transfer cannot be reversed at all. In addition, inform the bank and register your mobile number if you have changed it. This is because the bank sends your IPIN or one-time passwords to the registered mobile number only. This can create an opportunity for the hackers and fraudulent individuals as well.