How to Link Multiple Bank Accounts to MobiKwik for Easy Management

Managing your finances across different bank accounts can be a hassle, especially when you have multiple accounts for various purposes such as savings, expenses, and investments. Thankfully, MobiKwik offers a seamless way to link multiple bank accounts to your wallet, enabling easy transfers, payments, and overall better control of your financial activities—all from one platform.

In this blog, we will walk you through the process of linking multiple bank accounts to your MobiKwik wallet, highlighting the benefits and how it helps streamline your financial management.

Part 1: Why Link Multiple Bank Accounts to MobiKwik?

Linking multiple bank accounts to your MobiKwik wallet provides you with numerous advantages. Here are some key benefits:

1. Convenience of Managing All Accounts in One Place

With multiple bank accounts, you typically have to log into each individual bank’s app or website to manage your finances. By linking all your accounts to MobiKwik, you can easily access and manage them from a single platform.

• Quick Transfers: Move money seamlessly between different accounts without needing to manually log into each account.
• One Platform for Payments: Use your linked bank accounts to fund mobile recharges, bill payments, shopping, and more without switching apps.

2. Instant Bank Transfers

MobiKwik offers instant fund transfers between your linked bank accounts and your wallet, which makes moving money between accounts much faster than traditional methods.

• Instant Transfers: Transfer money from your bank account to your MobiKwik wallet and vice versa without delays.
• Ease of Use: Choose the linked bank account that’s most convenient for each transaction.

3. Flexibility in Payments

By linking multiple bank accounts, you can select the most suitable one based on your transaction needs. For instance, use your savings account for larger transfers and your current account for regular, smaller payments.

• Easy to Fund Wallet: Fund your MobiKwik wallet directly from any of your linked accounts for fast digital payments.
• Multiple Funding Options: Select the bank account you want to use for bill payments, shopping, or mobile recharges.

4. Better Control of Funds

Having the ability to manage funds across different bank accounts and your MobiKwik wallet gives you greater control over your finances.

• Track All Expenses: View and track the source of your funds and expenses directly within the MobiKwik app.
• Customizable Payment Options: Easily choose the right account for each payment, which can help you manage cash flow more effectively.

Part 2: How to Link Multiple Bank Accounts to MobiKwik

Linking multiple bank accounts to your MobiKwik wallet is a simple and straightforward process. Just follow these steps:

Step 1: Open the MobiKwik App

1. Launch the MobiKwik app on your mobile device. If you don’t have the app, you can download it from the Google Play Store or Apple App Store.
2. Log in to your account if you’re not already logged in.

Step 2: Go to the ‘Bank Accounts’ Section

1. Once logged in, tap on the ‘My Account’ icon or your profile icon in the top left corner of the home screen.
2. From the menu, select ‘Bank Accounts’. This will take you to the section where you can manage your linked bank accounts.

Step 3: Add a New Bank Account

1. In the ‘Bank Accounts’ section, tap on ‘Add Bank Account’.
2. You’ll be prompted to enter the bank account details, including:
   • Account Type (Savings or Current)
   • Account Number
   • IFSC Code (or select your bank from the list)
   • Account Holder Name

Step 4: Complete Bank Account Verification

1. To ensure the security of your linked bank account, MobiKwik may ask you to complete bank verification through one of the following methods:
   • OTP (One-Time Password): A verification code will be sent to your registered mobile number or email. Enter the OTP to verify your account.
   • Aadhaar-based Verification: For some banks, you may be asked to verify your account via Aadhaar-based authentication.
2. Once the account is verified, you will receive a confirmation message, and your bank account will be successfully linked to your MobiKwik wallet.

Step 5: Add More Bank Accounts

1. If you want to link multiple bank accounts, simply repeat the steps above for each additional account.
2. You can link as many accounts as needed, ensuring you have a flexible system for handling payments and transfers.

Part 3: How to Manage and Use Multiple Bank Accounts in MobiKwik

After linking multiple bank accounts, you can easily manage and use them within the MobiKwik app. Here’s how:

1. Select Your Preferred Account for Wallet Top-Up

When topping up your MobiKwik wallet, you can choose which bank account you’d like to fund the wallet from:

1. Go to the ‘Add Money’ section in the MobiKwik app.
2. Select the ‘Bank Account’ option.
3. Choose the bank account from which you want to add funds.
4. Enter the amount and confirm the transaction.

2. Use a Specific Bank Account for Bill Payments

MobiKwik allows you to link your bank accounts to make bill payments directly from your wallet.

1. Navigate to the ‘Bills’ section in the app (for utility bills, recharges, etc.).
2. When you proceed with a payment, you’ll have the option to choose which linked bank account to use for that particular payment.

3. Transfer Funds Between Bank Accounts and Wallet

You can move money easily between your linked bank accounts and your MobiKwik wallet. Here’s how:

• Bank to Wallet: Tap on ‘Add Money’ and choose the bank account from which you want to add funds to your wallet.
• Wallet to Bank: To transfer funds from your wallet to your bank account, go to the ‘Send Money’ section, choose the bank account you want to transfer to, and complete the transaction.

4. Check Your Bank Account Transaction History

MobiKwik keeps a detailed record of all your transactions. To view your transaction history for each linked account:

1. Go to the ‘Transactions’ section in the app.
2. Filter by Bank Account or Wallet to track your spending, transfers, and top-ups.

5. Set Default Bank Account

If you have multiple accounts linked but want one account to be your default for all transactions, you can set it as the primary bank account:

1. Go to the ‘Bank Accounts’ section in your profile.
2. Select the account you want to set as default and mark it accordingly.

Part 4: Tips for Managing Multiple Bank Accounts on MobiKwik

• Regularly Check Transactions: Keep an eye on your transaction history to ensure that all transfers and payments are accurate. You can filter your transactions by bank account or category for easy tracking.
• Secure Your Accounts: Always ensure your MobiKwik app and your linked bank accounts are protected with strong passwords or biometric authentication to safeguard your finances.
• Link Accounts for Different Purposes: Consider linking different accounts for different needs. For example, link your savings account for large transfers and your current account for daily expenses.
• Keep Your Account Details Updated: If you change any of your bank account details (like IFSC code, mobile number, etc.), make sure to update them in the MobiKwik app to avoid any issues with transactions.

Conclusion

Linking multiple bank accounts to your MobiKwik wallet makes managing your finances more efficient and hassle-free. Whether you need to make instant transfers, fund your wallet, or pay bills, having multiple accounts linked in one place ensures that you can do everything quickly and securely. With just a few simple steps, you can add and manage your accounts, giving you complete control over your financial activities.

Embrace the convenience of digital payments and enjoy seamless transactions with MobiKwik by linking all your bank accounts today!