The world is hit very badly by the novel Coronavirus infection. People are dying. Many are in isolation.
And the economy is very badly hit too.
While in many sectors, people are advised to work from home with offices closed, banking is one sector that cannot implement this so far.
Closing down banks will cause serious damage and chaos among people and hence banks continue to stay open.
Bank staff, amidst the Coronavirus scare, continue to work. And, a bank is a place where people gather in big numbers.
So even though banks continue to stay open, it doesn’t mean we can stop practising social distancing at banks.
It is still highly crucial to stop visiting your bank branch and by doing so, you will help yourself, the bank staff and other customers who visit the bank.
Unless it is for an unavoidable reason, please don’t visit your bank branch. This also applies to visiting ATM!
There are various banking tasks that you can do online without visiting your bank branch.
Let me point out those in this video here.
Money transfer is one of the most basic and often one of the most crucial banking tasks. And to do that you don’t have to visit your bank branch.
You can transfer money online either via internet banking or mobile banking.
You can transfer money to other accounts that are with the same bank as yours, or you can also make inter-bank transfers.
There are NEFT, RTGS and IMPS options available via net banking as well as mobile banking.
Paying credit card bills, Electricity bills, Insurances, standing instructions and the like can be very well performed online.
Again, depending upon your bank, you can choose to do these either via net banking or mobile banking.
For credit card bills you can even make standing instructions so the minimum bill amount is automatically debited every month off your account.
This also applies to paying your RD installments!
Opening FD and RD accounts
Well saving money at times of crisis is crucial.
And when you can put aside some money for a higher interest rate, why should a pandemic stop you from doing so?
FD and RD accounts are types of bank accounts. I have made a separate video on the types of bank accounts and their features and benefits.
You can check it out here:
Most people hesitate to open or put off opening a FD or RD because they have to visit the bank and fill out the form.
And at times of a pandemic like Covid-19, you don’t either have to visit the bank or put off opening a FD or RD.
You can open these accounts either via net banking or mobile banking.
I have a demo video on how to open FD and RD via the SBI’s YONO app.
You can check it out here
Using ATM and CDM during a pandemic like Covid-19
Just as you should avoid visiting a bank branch at the time of a pandemic like the Coronavirus, you must also stay away from unnecessarily visiting the ATM and CDM.
It is because numerous people tend to touch the surfaces of these machines making anyone vulnerable to catching an infection.
Unless absolutely necessary, avoid visiting a CDM as you can make money transfers online.
As to withdrawing, make sure you withdraw the required amount in one shot, and have the cash at home.
Maintaining your account
Performing account maintenance tasks can require you to visit the branch. But hold off any highly urgent tasks until you learn it is safe.
For other tasks like updating your email ID, changing passwords or PINs and updating your profile information, you can very well opt the route of Internet Banking or Mobile Banking.
What to do if you lose your debit card during a pandemic?
Don’t panic. And don’t rush to your bank branch. You can do the needful quickly using online methods.
Check out this video to know how!
Linking your Aadhar card to your bank account
If you want to complete certain long pending tasks like linking your Aadhar to a bank account, this is a good time.
While you are in quarantine and practising social distancing, you have a lot of time at hand to complete tasks like these.
Again, you don’t have to rush to the bank.
You can do it by staying indoors. Check out this post or watch the video here:
The options #1, #4 and #5 are applicable while you are in quarantine.
Getting a PAN card online
Yes, if you have been putting off getting a PAN card because you don’t have time, well it’s time now.
You can do it online and the whole process takes about ten minutes.
Using a contactless card over a regular debit card
Practicing social distancing is the best way to stop spreading Coronavirus.
And if you have to visit a shop for unavoidable reasons, you have to make sure you don’t touch common surfaces or points to avoid catching or spreading the virus.
Lift buttons, counter tops, and POS machines are places often touched by many people. When you avoid touching those, you help keep the spreading in check.
Here’s where a contactless card or wifi card comes to rescue.
Find out more about the card here:
Here’s how to do it in SBI’s YONO app:
As you can see, you can very well avoid going out to the bank at times of a Pandemic like the Coronavirus to perform your banking tasks.
You can perform a lot of these banking tasks just by staying at home.
It is not only comfortable and safe for you but it is also a great gesture on your part for the bank staff!