Easy mobile recharge apps have become all the rage now as it has helped change the way individuals recharge their mobile phones across the country. Besides being an easier alternative to cash/card payment options and negating the need to stand in long queues, customers can now make use of the convenience these apps to pay utility bills, mobile recharges, bill payments as well as several other online transactions.
Here are the Steps you Need to Follow to Open a Payments Bank Account:
Step 1: You need to download the app or visit the website
Step 2: Register with Payments Bank, using your mobile number. Enter the OTP.
Step 3: Add money to your payments bank account. You can add money from your bank account, or even ask a loved one to transfer money to your payments app account.
Here are the Steps you Need to Follow to Recharge Mobile Phones from Payments Bank Account:
Step 1 – Open the payments bank app or Website
Step 2 – Select mobile recharge and look for offers
Step 3 – Choose the offer that suits you
Step 4- Enter the mobile number for which the recharge is to be done
Step 5- Proceed to make payment
As is listed above, when you’re looking to make mobile bill payments or recharge your online balance, it is easy – all you need to do is pay the requisite amount.
These payment banks transfer the convenience of a virtual wallet right in your handset. However, in order to use this virtual wallet, just like a real wallet, you will have to load it with money first to use it. Once you have enough cash in your payments bank account, you can conveniently use it for a variety of purposes such as easy online recharge, paying bills, shopping at e-commerce websites and even transfer money to your friends and family. Of course, you will need to go through the registration process while completing the KYC as well if you’re looking to start this service from the palm of your hand.
Here are Some Benefits of Opening a Payments Bank Account:
- You do not need to maintain a minimum balance in your payments bank account.
- This facility is useful for those who don’t use or have access to Internet banking facilities.
- If you do not possess a credit card or use online card payments for processing various bills, a payments bank can be used.
- One of the best parts of using this service is that your money does not sit idle in your payments bank account. Payments Bank like Airtel offers an interest rate of 7.25 per cent per annum.
Moreover, payments bank work on USSD technology which basically entails that you can communicate with the service provider’s terminal directly which is quite similar to online chatting. Additionally, like mentioned before, you can do this even without your Internet service activated.
So, go ahead, open and take advantages of a payments bank account and revolutionize the way you pay for goods and services such as online recharge of a service or shopping at the nearest mall.