The advancements in modern technology allowed several monetary transactions to be done online with just the tap of a finger.
Even retail and the purchase of goods and services can already be done online. With everything now accessible in the digital world, even payment methods evolved. This paved the way for cashless payments through credit card transactions.
It is an understatement to say that credit cards made the payment process more convenient. While most banks offer credit cards that are superior for online purchases, Instabank steps up by offering a credit card that offers a lower interest rate, called Instapay Mastercard.
If you choose to pay off your credit card bills over time, rather than paying upfront at the end of each billing period, then Instapay Mastercard will be the perfect card for you.
Apart from lower interest rates, below are some other reasons why you should get Instapay.
Manageable payment method
Just like when paying with cash, the purchases made through credit card transactions must be settled within the billing cycle to waive the interest rates imposed after the billing cycle. There are instances wherein upfront payments involve a hefty sum and it will be more manageable to make monthly payments.
However, not paying your credit card dues in full will accumulate added interest on the balance left. In the long run, the interest on the balance due can even be more than your original purchase, especially if only the minimum amount due is settled at the end of each month.
With Instapay Mastercard, you can definitely save on the accumulated interest by switching over to a repayment over time up front. Hence, the only interest you will have to pay will be the fixed interest calculated when you made the purchase.
Accessibility and convenience
Instabank is a fully digital bank, which paves the way for an accessible and convenient method to settle your credit card dues. Additionally, with a digital bank, you will no longer have to queue in line for payment transactions or other processes such as credit card or loan applications.
Apart from paying your dues, with everything done digitally, you will have the ability to manage all your transactions online, such as monitoring your purchases and payments.
Saving up for the rainy day may prove to be a challenging feat with all the expenses that need to be settled on a monthly basis. Thus, it can be deemed that not everyone has ample savings in their bank accounts. Others also have their money placed on other forms of investments such as the stock market or time deposits, making it inaccessible for immediate needs.
Having an Instapay Mastercard provides you a financial buffer that will definitely be helpful, especially in unforeseen circumstances such as when an appliance in your home already needs a replacement or when you need to travel with short notice.
With an Instapy Mastercard, you will have access to exclusive offers to deals and promotions from your favorite shops. You can use your card to shop at retail outlets that accept Mastercard and more often than not, these exclusive deals allow you to save a hefty sum from your purchase.
Depending on the certain holidays celebrated, you can even get a product which is half of its original price. From time to time, you will get an email or a notification regarding upcoming deals, allowing you to plan your purchase beforehand to get the products and services you are after at their best price.
Superb customer service
Since everything with Instabank is done digitally, you are sure to get excellent customer service because there are various channels for communication. You have the option of sending in an email or getting in touch via phone call.
You no longer have to leave the comfort of your own home in order to get help when you need it. You can even search online for the answers to some of your inquiries.
A Glimpse on EFT Services for Credit Card Payments
Digital modernization brought about the electronic funds transfer, or EFT, services. These services permit its users to allocate their money from one account to another in different banks, digitally. Technological innovations revolutionized the financial industry with every financial institution having an online presence.
Most banks now offer their clients more convenient means of banking by providing a secure website for monetary transactions. Often, they also provide a mobile banking application, allowing their clients to access their funds wherever they are, as long as they have their smartphones or handheld devices with a stable and reliable internet connection.
Monetary transactions that can be done electronically, whether through a computer or handheld devices include bills payment, payments for purchases, as well as fund transfers and management.
All these services are often provided by banks and other financial institutions. One particular drawback however is that clients are restricted to transfer their funds from one account to another account within the same bank.
Hence, several banks already partnered with EFT services, such that their clients are able to electronically transfer their funds from their account in one bank to their account in another bank.
These EFT services also make it more convenient for users to pay their credit card bills from one bank using their funds from another bank, without having to leave the comfort of their own homes. This is accessibility and convenience at its finest, especially with the fast-paced lives that people are living with today.
The modern world paved the way for several convenient and seamless processes in terms of monetary transactions. Nowadays, you don’t have to physically go to a bank or to service centers to pay your bills.
In the same manner, you no longer need to go to a physical store to purchase products you need. In this day and age, you can pay for almost anything electronically through a very powerful card.