Is Internet Banking Really Free in India?
Internet Banking or Net Banking is a great piece of technology we have with us. Because of internet banking, we people don’t visit the branch of the bank often.
There was a time when for every big and small task the customers had to visit the branch of the bank. But this is not the case today.
All you need to have is a good device and a stable internet connection with you and you are good to go. Of course, you will have to register for the internet banking service.
It is not a tough process at all. During the initial days of internet banking in India, the process was a bit hard. But these days things have become very seamless.
Things like your Customer ID and the username will be given to you by the bank. You just have to visit the official website of your bank.
Choose the New User option which some banks call Register and you will be able to set your passwords within minutes of time. And when done you are good to go.
There are a number of services that the banks have to offer to the customers using Internet banking. Then how can it be free?
The real question here is,
Is Internet Banking Service Really Free of Cost?
Don’t worry I will answer this question for you.
Yes, the internet banking service is free of cost and there is no bank in India that charges its customer to access the internet banking services.
But in the case of some banks, the customer will be charged for some features of internet banking. For example, if you are using IMPS or NEFT to transfer funds from your account to another.
Then there are some private banks in India that charge you on the basis of the amount you are transferring. And on this charge, the GST will be extra.
Then How is this Service Free?
Now you might ask me when I have to pay for NEFT or IMPS then how can we call internet banking a free service?
Here we have to understand that technically we are not paying the fees to access the internet banking services. Instead, we are being asked to pay for the value-added services we get through internet banking.
And this is not the case with all the Indian Banks as well. There are only a few banks that do charge for the services like NEFT and IMPS.
In the end, if you never use your internet banking services to transfer funds that attach charges. Then you will be never charged by your bank.
And hence internet banking services are free in India. Not only internet banking but even mobile version of internet banking is free of cost.
What is the Mobile Version of Internet Banking?
Here we come across two different things when it comes to the mobile version of internet banking. The first one is the mobile version of the bank’s website.
Of course, the bank websites are also responsive these days and you can access your bank account directly using your smartphone’s browser.
But that is not recommended as sometimes the mobile browsers are prone to be attacked. And to solve this thing the other thing comes into the picture.
And that are the official mobile banking apps that are published by your bank on Google Play Store and Apple App Store.
These apps are available for all the customers of the bank and the apps are safer when compared to the mobile web browser.
The main thing is just like the internet banking services the mobile banking services are also free of cost. I hope you got the answer to your question.
But still, let me wrap up the things and give you a short answer. Yes, internet banking services are technically free where the customer might be charged only for the additional services he or she uses online.