How much time you’re losing over inefficient banking

Don’t we all hate going to the bank? Standing in line to withdraw cash, make a deposit, pay vendors, cash a cheque… the list of banking tasks can be unending. What made it worse is that all this had to be done within banking hours, which often coincides with our working hours. Hence, going to the bank often meant wasting half the day.

Not anymore. Not in a very long time, actually. Technology has made major inroads in all aspects of our lives, and banking is no different. The speed with which technology has transformed this slow-moving business behemoth is incredible, to say the least.

In the first place, there are many more banks today. To stay competitive, they need to invest millions into technology that makes banking processes faster. For a long time, this technology was limited to the bank, its employees and partners. Only in recent years have customers got access to the electronic transfers, and they have taken to it with gusto.

Here are eight ways in which you can turn inefficient banking or traditional banking on its head and make your money move faster than ever before.

  • Online transfers

    Instead of writing cheques to vendors or accepting cheques from clients, opt for NEFT, or online transfers. The money transfer process is almost instant, and the best part is you can do this from the comfort of your home or office. And you can do this at any time of day or night, including bank holidays as well.

  • Mobile banking

    While online banking might still tether you to your desk, Mobile Banking truly frees you from the shackles of traditional banking. Thanks to the rise of smartphones and mobile apps, banks find it really easy to reach out to customers in all corners of the country. Download your bank’s app and accelerate the speed of your banking transactions.

  • Online remittances

    The days of going to the bank to transfer funds overseas are long gone. Once again, technology and competition make the customer king. There are numerous players in the market who offer you faster, cheaper, secure, and more convenient options to send or receive money abroad. Try these services and make your money move faster.

  • Bill payment

    Do you believe in writing a cheque or paying your utility bills in cash every month? Do you go to your nearest collection centre and stand in line to pay your bills? Why don’t you let your bank do all the legwork instead? Add your utility services in the bill pay section and let your bank take care of making timely payments every month. This has a dual advantage – you do not need to step out of office or take time off from work, and there is no question of a delay or a late fee.

  • ATMs in every locality

    Can you imagine a life without ATMs? These have truly revolutionised the way we access our money. Instead of going to the bank to make weekly withdrawals, you can easily get your hands on your money round the clock – anywhere in the world even, thanks to the banking industry breaking the barriers of international boundaries.

  • Going paperless

    The environment will thank you for this, and so will your tax consultant. Instead of wading through sheets of financial records, opting for an e-statement will give you instant access to all your past financial statements in one convenient place. Say goodbye to dusty files and hours of poring over printed columns. With e-statements, it’s all done in a jiffy.

    How else can you make sure you do not lose time over inefficient or traditional banking? Sometimes the issue isn’t in the bank’s processes; you could make mistakes too.

  • While applying for a loan

    Ensure that you fill forms for loan applications and other services correctly. Any error in your data could lead to delays and perhaps even rejection of your application.

  • Keep your personal details up-to-date

    Make technology really work for you. Ensure that your contact and personal information with the bank or other financial service providers is up-to-date and accurate. This way there will be no delays in communicating messages or sending you regular updates.


Technology has truly changed the world we live in. Its benefits extend not just to the banks but to us customers as well. A bank is no longer an institution that is only meant to protect your money. It is a fluid system that gives you complete control of your finances at your fingertips. How you use it to make your banking process efficient is entirely in your hands.

One such amazing banking solution, HDFC Bank SmartUp, is aimed at entrepreneurs like you. It offers a suite of smart financial tools, services, and advisory that will help you achieve your start-up goals faster and more efficiently.

Another such banking solution is HDFC Bank InstaAccount that enables you to open a savings account with HDFC Bank from the comfort and safety of your home. It’s a convenient solution for all your banking needs including bill payments, money transfers, NetBanking and Mobile Banking.

You can instantly apply for it online to receive your account number and Customer ID. All you need are your mobile number, Aadhaar Card number and PAN to open an account with HDFC Bank.

Your NetBanking and Mobile Banking will be immediately enabled, allowing you to make online fund transfers and cardless withdrawals from ATMs. All this convenience, ease of use and safety is provided to you with HDFC Bank InstaAccount.

Click here to open your HDFC InstaAccount now!

Click here to open your HDFC Bank SmartUp account now!