5 smart ways to bank with your banking app
By: Bank Al Etihad
Tags: Lifestyle, Smart Banking, Banking Technology, Mobile Apps, Bank Al Etihad

These days, many of us find ourselves banking through our mobile phones, and this couldn’t be more convenient. We can regularly check our balance from anywhere and anytime and budget our day-to-day and monthly spending from there. As for those of us with a second bank account, such as a savings account, we may be monitoring it monthly to see our money grow.

These are simple classic routines we’ve all adapted into our lifestyle. But there’s more you can do with your bank account to help manage your money, keep your budget on track, and hit your financial goals like a pro.

Here are 5 smart ways to bank with your mobile banking app to keep your finances in check and become the financial genius you’ve always wanted to be.

Start paying your bills on time

How often have you forgotten to pay a bill on time? If you had a penny for every time you forgot to pay a bill, say like your phone bill, imagine how much money you would’ve saved by now (we’ll get to that cool part later). Here’s an easy way to pay your bills on time the right way so that you won’t have to spend your money on late fees. Begin by adding up your fixed monthly fees. This includes your utility bill, such as electricity, water, internet and you guessed it, your phone bill.

Open your mobile app, head over to Payments and fill in the details under Pay Bill. Now you can toggle the switch to Quick Pay. Well that was easy! You’re now that person who pays their bills on time.

Split the bill with your friends

Splitting the bill when you’re out with friends is actually one of the greatest dilemmas of all time. We’ve all been there before. You’ve had a lovely dinner out with your friends and as soon as the bill arrives, it almost always changes the mood. You all agree to split the bill, but somehow someone always manages to come up short. This can be frustrating especially if you’re being cost conscious and your friend forgets to pay you back.

You can always split the bill equally and directly through your mobile phone. Let’s say you’re a group of three and the total bill is 80 JOD. It can be tricky to split the bill evenly. You can offer to pay the entire 80 JOD bill through your card or mobile phone. And then select your friends’ names to receive their end of the payment. This saves you time, energy and it’s a lot more accurate as you receive the exact payment you’re owed. Now your friends can pay you back their portion of the bill instantly. Prepare to say goodbye to that awkward moment of reminding your friend to pay up!

Know exactly where your money goes

We pay for many things on the daily, weekly, and monthly. And in most cases, we forget where our money goes especially since most of us are living a fast-paced lifestyle. With Account Analytics on your mobile app, you’ll go from ‘where did my money go’ to ‘that’s exactly where it went!’ And if you’d like to keep some extra cash on the side for emergencies, you can set up a monthly spending target. This way, you won’t find yourself going overboard at the end of the month.

You can see exactly where you’ve spent your money from restaurant outings, groceries, gas, and your favorite coffee etc. Learn from your spending habits at the end of the month, so you can save and spend smarter on the long run.

Watch your money grow over time

We all want to invest for our future goals whether long-term or short-term. When it comes to saving for a vacation that you’re planning for the next couple of months or year ahead or whether you’re planning on redecorating an area in your house, it’s always a good idea to start saving ahead of time. You can instantly open a term deposit straight through your app and watch your money grow over the next couple of months.

Buy travel insurance ahead of your holiday

Some countries have lifted their travel restrictions amid the global pandemic. To ensure you enjoy your next vacation worry free, you can purchase your travel insurance that covers COVID-19 ahead of your flight. With social distancing measures still in place, you don’t have to worry about leaving the house and finding a travel insurance option that suits you. Your mobile banking app takes care of it all and you can choose the travel insurance you prefer.

Our mobile banking app is there to help you do more with your money and make smarter money decisions. You can expect our banking app to only get better with time so you can take full financial control over your money management, spending, and saving.