looking at opening a zero balance online account with free fund transfer facilities. I see most claim free RTGS/NEFT/IMPS.
- no hidden charges of any kind
- online banking (transfer feature) is adequate. no physical cheque or bank /ATM access needed
- aadhar verification ok. No PAN though?
- unlimited online transfers (inward/outward)
- no need of any ATM/debit/credit cards – can transfer my money to my existing account if needed
- OK to cancel it at end of 360 days (if they want full kyc before end of 1 year) presuming there are no cancellation charges.
looking for this account to set up an online selling business. will receive payments from customers, keep my share and transfer the share to the distributors. so, don’t want to use my existing account for this.. hence this requirement.
anyone using these digital accounts? drawbacks? pitfalls? suggestions?