Most banking customers use their bank accounts mainly for checking balance, withdrawing cash, sending money, paying bills and receiving salary. These are important, but they are only the basic functions. Today, most banks offer several useful features through mobile banking and internet banking. These features can improve security, save time, reduce missed payments and help you manage money better.

Here are 7 banking features that most customers seldom use, but should consider.

1. Card Controls

Card controls are one of the simplest ways to make debit and credit card usage safer. Most banking apps allow you to control how you use the card. This may include turning online transactions on or off, enabling or disabling international usage, setting ATM withdrawal limits, setting point-of-sale (POS) limits and controlling contactless payments.

This is useful because you may not need every card feature active all the time. For example, if you do not shop on international websites, you can keep international usage switched off. If you rarely use contactless payments, you can disable them or set a low limit. Card controls also help in emergencies. If you misplace your card, you can block it instantly from the app instead of waiting to contact customer support.

A good habit is to keep only the features you actually use active and set limits based on your regular spending pattern.

2. Auto Sweep Facility in a Business Account

Auto sweep facility is a feature that links your current or business account to a fixed deposit. With this feature, when your account balance exceeds a set limit, the surplus amount in the current account is automatically moved into a high-interest fixed deposit.

If you need the money later, the system automatically "sweeps in" the required amount from your linked FD. This gives you better returns on idle money and access to funds when you need it.

Note: This facility is available only for Maxima Current Account holders.

3. Standing Instructions and Auto-Pay

If you're still paying recurring bills manually every month, it may lead to missed due dates, late fees and service interruptions. Using standing instructions and auto-pay features can help avoid this.

You can use these features for regular payments such as loan EMIs, insurance premiums, SIPs, credit card bills, Recurring Deposit, etc. If you use these features consistently, payments happen on time without needing manual action every month. This can also help protect your credit score, especially in the case of loan EMIs and credit card bills.

However, you should not ignore auto-pay after setup. You should review active mandates regularly. If you no longer need a subscription, you can cancel it. If the amount looks wrong, you should check it before the next debit. If you use it properly, standing instructions can reduce stress and make monthly money management easier.

4. Custom Alerts and Notifications

You can use banking alerts for more than just transaction updates. You may use it to set alerts for large debits, low balance, salary credit, cheque clearing, FD maturity, credit card due date, EMI debit, failed transactions and suspicious activity.

These alerts are useful for both security and planning. For example, a debit alert of substantial amount can help you spot fraud quickly. A low balance alert can prevent failed EMIs or bounced payments. A credit card due date alert can help avoid late payment charges.

In digital banking, speed matters. If an unauthorised transaction happens, early detection can make a big difference. You should make sure you have updated your mobile number and email address with the bank and that alerts are active for important transactions.

5. Nominee Management

Nominee details are often ignored, but they are very important. A nominee is the person who can claim the funds or assets if something happens to the account holder. You can add nominee details for savings accounts, fixed deposits, recurring deposits, lockers, demat accounts and other eligible banking products. However, the nominee may or may not be the legal owner of the funds. The legal heir as per the specified will has 100% claim of the funds. A nominee acts as a custodian of the funds till actual claim is finalised.

You may overlook the importance of designating a nominee or updating nominee information following significant life changes. This can create difficulties for family members later if something happens to you. You should check whether nominee details are added to each account and deposit. You should also make sure the nominee's name, relationship, date of birth and contact details are correct.

Nominee management is not only for senior citizens. Every account holder should treat it as a basic part of financial housekeeping.

6. Virtual Cards and Temporary Limits

Online shopping is convenient, but card safety matters. Some banks offer virtual debit or credit cards for online transactions. You can use a virtual card without exposing the details of the physical card. In other cases, banks may allow you to set temporary limits or enable online usage only when needed.

You may find it useful when you shop online, book tickets, pay for subscriptions or use cards on different websites. A good practical habit is to keep online card limits low and increase them only when you require. You can also disable online usage after completing a transaction, depending on the options your bank may offer. This gives you more control over card exposure. Even if card details are saved on a website or used on a less familiar platform, lower limits can reduce risk.

7. Statements, Certificates and Spend Insights

Banks usually allow you to download account statements, interest certificates, TDS certificates, loan statements, home loan certificates and credit card statements. These documents are useful during tax filing, loan applications, visa applications, reimbursements and financial reviews. Some banking apps also provide spending insights. These may show how much money is spent on food, shopping, travel, fuel, bills or subscriptions.

This can help you see where your money is going. It can also make budgeting easier.

Instead of waiting until tax season or loan application time, you can download and organise important documents regularly.

Final Thoughts

Banking apps are no longer only for checking balance and sending money. If you use it properly, these apps can help you save time, reduce risk and manage money with more confidence. A few small changes can make everyday banking safer and more organised. Start with card controls, transaction alerts and nominee details. Then review auto-pay, sweep-in deposits, virtual cards and account statements.

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