Chennai: Public Sector Undertaking Indian Overseas Bank have introduced savings account portability online, an initiative aimed at catering customers Those who move to different places for their career or education and find it cumbersome to transfer their domestic bank accounts to their current location.
Facility is becoming available OnlineHelps customers avoid the laborious process of filling endless forms manually and reduces waiting days account transfer “As part of our continued efforts towards making our customers’ banking journey more efficient and easier, we are introducing savings account portability online.” Ajay Kumar Srivastava, managing director and CEO of the bank, said in a release issued here.
“We are committed to being at the forefront of technology with innovative solutions that meet the evolving needs of customers in today’s digital age,” he said.
To initiate an account transfer, customers need to log in to the Bank’s website (www.iob.in) and access the ‘Transfer of Savings Account’ section. After providing the account number, a one-time password will be sent to the customer’s registered mobile number. The customer can specify the desired branch for fund transfer. A new page then opens, showing the account number and the destination branch code, which confirms the successful transfer, the release said.