Today, thanks to the advent of online banking can open a current account quickly and conveniently in India today, with the help of mobile banking apps of leading banks like the IDFC FIRST Bank mobile banking app. A mobile banking app facilitates access to all banking services instantly and securely, helping individuals and businesses bank conveniently online.
Banks offer various modes of opening online current accounts in India. This article will explore the definition of a current account, the functions of online current accounts in India, and explain the online current account opening process through a mobile banking app.
What is a current account?
A current account is a type of bank account which caters to the financial needs of businesses, firms, and organisations. Unlike a savings account focusing on personal savings, a current account allows for frequent transactions and provides a wide range of banking services suitable for business operations. Opening a current account can help an individual or a business access chequebook facilities, debit cards, and other online banking features.
Additionally, customers can deposit and withdraw funds when required. IDFC FIRST Bank offers the best-in-class POS, QR, and payment gateway facility through its online current accounts. IDFC FIRST Bank’s current account customers also benefit from the free bulk uploads feature. IDFC FIRST Bank offers four current account variants. Visit IDFC FIRST Bank’s website to know more about the features of their online current accounts.
How to open a current account in India?
The most convenient mode of opening a current account in India is through a mobile banking app. With the IDFC FIRST Bank mobile banking app, you can initiate the account opening process right from the comfort of your home or office. In this section, we have taken IDFC FIRST Bank’s example to help you understand the procedure to sign up for an online current account in India:
- Download a mobile banking app: Begin by downloading and installing the IDFC FIRST Bank mobile banking app from your preferred app store.
- Register yourself: Next, you must register your mobile number and follow the verification process. Set up a secure password and create an MPIN for future transactions.
- Open a current account: After successful registration, navigate to the “Open Current Account” section within the app. Fill in the necessary details, such as your business name, contact information, and PAN number.
- Submit your documents: Upload the required documents including proof of identity, address, and business registration.
- Verification and approval: The IDFC FIRST Bank team will review your application and documents. If all the information provided is accurate and meets the bank’s requirements, the bank shall approve your account.
- Activate your account: Activate your account using the IDFC FIRST BANK mobile banking app.
While researching current accounts online to shortlisting your top preferences, you should read all the features of the online current accounts offered by various banks. For the next step, you must assess the mobile banking services of the bank and then install the bank’s mobile app to begin the procedure of applying for an online current account.