# Closing the gap between traditional bank and neo bank **URL:** \ **Category:** Feedback & Ideas\ **Created:** [19 June 2020 21:14 UTC](https://community.jupiter.money/t/closing-the-gap-between-traditional-bank-and-neo-bank/704 "2020-06-19T21:14:16Z")\ **Posts on this page:** 13\ **Page:** 1
**Author:** ![dhanvi](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/dhanvi/32/13369_2.png) [@dhanvi](https://community.jupiter.money/u/dhanvi)\ **Post date:** [19 June 2020 21:14 UTC](https://community.jupiter.money/t/closing-the-gap-between-traditional-bank-and-neo-bank/704/1 "2020-06-19T21:14:16Z")
Even though I have been using neo/digital bank for quite some time, I still continue to hold a traditional bank account for the reasons/features mentioned below. - Checkbook and check deposit - NPS (paytm launched it recently [https://www.paytmmoney.com/blog/nps-investment-live/](https://www.paytmmoney.com/blog/nps-investment-live/)) - Balance certificate in the format required on letterhead Hopefully, Jupiter will pick them up when they can. What other features do you use? ---
**Author:** ![sneh.baxi](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/sneh.baxi/32/622_2.png) [@sneh.baxi](https://community.jupiter.money/u/sneh.baxi)\ **Post date:** [22 June 2020 06:15 UTC](https://community.jupiter.money/t/closing-the-gap-between-traditional-bank-and-neo-bank/704/2 "2020-06-22T06:15:05Z")
Personally I haven’t used checks in a while, except where a cancelled cheque is required for Bank proof (But account statements work as a substitue in most cases) Where else do you use a cheque? And do you receive them even? ---
**Author:** ![rushabhd97](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/rushabhd97/32/472_2.png) [@rushabhd97](https://community.jupiter.money/u/rushabhd97)\ **Post date:** [22 June 2020 11:05 UTC](https://community.jupiter.money/t/closing-the-gap-between-traditional-bank-and-neo-bank/704/3 "2020-06-22T11:05:37Z")
Use of cheque for the salaried millennial is very less. As the TA of Jupiter is salaried millennial, chequebook and chequedeposit might not be a feature of high importance. ---
**Author:** ![sss](https://avatars.discourse-cdn.com/v4/letter/s/57b2e6/32.png) [@sss](https://community.jupiter.money/u/sss)\ **Post date:** [23 June 2020 18:14 UTC](https://community.jupiter.money/t/closing-the-gap-between-traditional-bank-and-neo-bank/704/4 "2020-06-23T18:14:50Z")
Nps use case is nice. ---
**Author:** ![dhanvi](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/dhanvi/32/13369_2.png) [@dhanvi](https://community.jupiter.money/u/dhanvi)\ **Post date:** [23 June 2020 18:52 UTC](https://community.jupiter.money/t/closing-the-gap-between-traditional-bank-and-neo-bank/704/5 "2020-06-23T18:52:03Z")
I haven’t used it in last 6 months, but users might still ask for it. (Not everyone who has a smartphone use netbanking/UPI) If I had these features, I will be willing to ditch traditional bank and keep neo banks account only, I understand that this will take more time. ---
**Author:** ![sss](https://avatars.discourse-cdn.com/v4/letter/s/57b2e6/32.png) [@sss](https://community.jupiter.money/u/sss)\ **Post date:** [24 June 2020 04:47 UTC](https://community.jupiter.money/t/closing-the-gap-between-traditional-bank-and-neo-bank/704/6 "2020-06-24T04:47:40Z")
I would simply shift they provide me with merchant names in a clean manner on where I spent. I will atleast make that account as an expense account. ---
**Author:** ![sahil-sorathiya](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/sahil-sorathiya/32/584_2.png) [@sahil-sorathiya](https://community.jupiter.money/u/sahil-sorathiya)\ **Post date:** [24 June 2020 11:57 UTC](https://community.jupiter.money/t/closing-the-gap-between-traditional-bank-and-neo-bank/704/7 "2020-06-24T11:57:32Z")
> [@dhanvi](#): > > Balance certificate in the format required on letterhead What is the use case for this @dhanvi ? ---
**Author:** ![sss](https://avatars.discourse-cdn.com/v4/letter/s/57b2e6/32.png) [@sss](https://community.jupiter.money/u/sss)\ **Post date:** [25 June 2020 03:17 UTC](https://community.jupiter.money/t/closing-the-gap-between-traditional-bank-and-neo-bank/704/8 "2020-06-25T03:17:36Z")
Is this used for applying visa? ---
**Author:** ![dhanvi](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/dhanvi/32/13369_2.png) [@dhanvi](https://community.jupiter.money/u/dhanvi)\ **Post date:** [26 June 2020 22:22 UTC](https://community.jupiter.money/t/closing-the-gap-between-traditional-bank-and-neo-bank/704/9 "2020-06-26T22:22:39Z")
Yep like @sss said it could be used for visas. This is a very specific use case, I had to transfer all my funds into a traditional bank to get this. I understand bank statements should ideally replace this. So the feature request could boil down to atleast download bank statements. PS: Thank You! for making it topic of the week 🙂 ---
**Author:** ![sss](https://avatars.discourse-cdn.com/v4/letter/s/57b2e6/32.png) [@sss](https://community.jupiter.money/u/sss)\ **Post date:** [29 June 2020 09:42 UTC](https://community.jupiter.money/t/closing-the-gap-between-traditional-bank-and-neo-bank/704/10 "2020-06-29T09:42:03Z")
Online changing of address, a swift customer care that actually solves a problem are the basics on top of what @dhanvi wrote. Ability to get all my accounts inside jupiter app would be mind blowing. ---
**Author:** ![rupeshmandal](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/rupeshmandal/32/643_2.png) [@rupeshmandal](https://community.jupiter.money/u/rupeshmandal)\ **Post date:** [3 July 2020 08:03 UTC](https://community.jupiter.money/t/closing-the-gap-between-traditional-bank-and-neo-bank/704/11 "2020-07-03T08:03:44Z")
I have a digibank account which I opened 4 years back through AADHAAR KYC on their mobile app. A bank representative then came to collect the hard copies for document verification. I have not visited their branch since last 4 years. Little higher interest than SBI bank a/c. There are no charges for IMPS transfers. You can transfer funds without adding a beneficiary first and waiting for approval. Instant Loans, Bill payments, Mutual funds investments can also be done but I don’t use them there. Debit card has no annual charges. Customer support is great. Paperless banking. No physical account statements. So, isn’t the line between a traditional and neo banks already blurring. What would Jupitor bring to the table? ---
**Author:** ![dhanvi](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/dhanvi/32/13369_2.png) [@dhanvi](https://community.jupiter.money/u/dhanvi)\ **Post date:** [3 July 2020 19:23 UTC](https://community.jupiter.money/t/closing-the-gap-between-traditional-bank-and-neo-bank/704/12 "2020-07-03T19:23:01Z")
> [@rupeshmandal](#): > > So, isn’t the line between a traditional and neo banks already blurring. What would Jupitor bring to the table? I agree that it’s already blurring! I was wondering what’s stopping you from closing the traditional bank account. PS: DBS charges Debit card annual fee (second year onwards) [Savings & Deposit Accounts Interest Rates & Fees | DBS Bank](https://www.dbs.com/digibank/in/rates-and-fees.page) ---
**Author:** ![rupeshmandal](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/rupeshmandal/32/643_2.png) [@rupeshmandal](https://community.jupiter.money/u/rupeshmandal)\ **Post date:** [4 July 2020 02:40 UTC](https://community.jupiter.money/t/closing-the-gap-between-traditional-bank-and-neo-bank/704/13 "2020-07-04T02:40:04Z")
> [@dhanvi](#): > > I was wondering what’s stopping you from closing the traditional bank account. My PPF account is in SBI which was opened way back in 2008. Few times in a year I have to do in cheque payments because it is required so for documentation purpose or the other person does not accept digital payments. Or when I want to make a payment at a future date, I use cheque. My salary account is also in SBI because it gives me extra privileges as corporate salary account. I have joint accounts with my parents as well. So there are many reasons I can’t discard the SBI account. But what’s interesting is it is almost dormant. Once salary hits my SBI account, I transfer it to Digibank. So all day to day transactions happen through the Digibank account. While I continue getting privileges of SBI salary account. Regarding the charges for Digibank debit card, so I think I had opened the account during some offer period, do I am not charged annually.