The banking majors across the country have now taken on to WhatsApp platform to provide customers with real-time solutions as the social media is widely in use for a host of purposes and now consumers can look up to WhatsApp for resolution of their basic banking queries.
Services to be offered via WhatsApp Banking
1. Mini statement
2. Balance enquiry
3. Cheque book request
4. Eligibility for debit cards
5. Pre-approved loans
6. Details on Fds.
How to apply for WhatsApp Banking service of your bank?
Banks have come up with a mobile number on their website and upon giving a missed call on this number, individual customers can kick off using WhatsApp for their banking needs. Note the registered number has to be used for giving the missed call for availing WhatsApp banking service and also the number shall be different from the bank's phone banking number.
Then you will receive a Welcome msg from the bank's WhatsApp number, you can then add it to your contact list and then reply saying 'Hi'.
Also, post registering for this service, you will receive all the notifications from your bank via WhatsApp and not as SMS.
For the different services and enquiries, different banks have listed out phrases which can be used for knowing the different details. As for example, 'credit card reward points' i.e. to be followed by the last 4-digit of your credit card and such other phrases depending on your bank's listings.
The service is secured via end to end encryption and comes absolutely free.
Pitfalls of WhatsApp Banking
Though it is safe with no breach of customer's account data, there can be an instance that your mobile phone gets stolen away and in such a situation there can be a loss to your personal data which includes banking data as well. If you happen to confront such a circumstance, inform your banking company at the earliest.
Also, you have the option to deactivate your WhatsApp banking account and for it, you need to type in the phrase "Lost/Stolen: Please deactivate my account" in the body and subject of the email to firstname.lastname@example.org and write a mail to the concerned authority. You need to clearly state the mobile number in the body of the mail in international format.
Herein you need to note that you need to apply for another SIM and place the request for WhatsApp banking activation from the other handset and as soon as it is done, your previous WhatsApp account with the bank will be deactivated.