2023-12-27 22:48:01
What is the difference between an electronic wallet and a bank account? This is what we will learn regarding in detail in the following lines, as many banks offer mobile banking and electronic wallet services as well, and each of them has its own advantages and distinct transactions.
What is the difference between an electronic wallet and a bank account?
Through the following, we learn regarding the difference between an electronic wallet and a bank account in detail:
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1- Electronic wallets
It is considered one of the most modern means of electronic payment in use today. It helps you carry out your financial transactions in the easiest ways through your mobile phone and without the need to open a bank account and with the easiest procedures as well. All you need is a registered phone number and a valid card only. The transactions that can be You can do this through the electronic wallet as follows:
- Pay bills.
- Recharge mobile phone balance.
- Transfer money and pay for purchases.
- Paying club subscriptions and booking airline tickets.
- Payment of donations and insurance premiums.
- Transfer money to any other electronic wallet in the Arab Republic of Egypt within minutes.
- Make payments using the QR code in stores and online.
- Withdraw money from your electronic wallet “Cash” through ATM machines using your mobile phone number.
2- Mobile banking
It is worth noting that mobile banking is nothing but an application provided by the bank to customers in order to make it easier for them to manage and monitor their accounts at any time and from anywhere in a secure manner, in addition to carrying out many banking transactions on their own and without the need to go to the bank branches. Through the following, we learn regarding a group of the most important transactions that can be carried out through mobile banking in detail:
- View all individual customer accounts.
- View loan amounts, in addition to the date and value of the last installment paid along with the amount of the next installment and the current balance of the borrower as well.
- View all credit card balances of individual customers.
- Know the card status, expiration date and minimum payment.
- Print statements of accounts for previous months.
It is worth noting that the electronic services that banks work to provide through mobile phones have varied and varied until it has become easy to carry out transactions without the need to go to the bank.
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