Indian Overseas Bank has recently launched the ‘Savings Account Portability Online’ scheme, which aims to simplify the process of transferring savings accounts for customers who are relocating due to various reasons such as career changes, educational pursuits, or life transitions.
This innovative scheme provides a user-friendly online platform that eliminates the need for extensive paperwork and long waiting periods typically associated with relocating bank accounts.
To initiate the account transfer, customers need to log in to the official Indian Overseas Bank website (www.iob.in) and access the ‘Transfer of Savings Accounts’ section.
They are then required to input the account number and registered mobile number, followed by the receipt and input of a one-time password (OTP) sent to the registered mobile number.
Once the OTP is entered, customers can specify the desired branch for the transfer and submit the request.
A confirmation page will display essential details, affirming the successful completion of the transfer process.It’s important to note that accurate registration of customers’ phone numbers with the bank is imperative for seamless benefit from this service.
The efficiency of this online process aligns with Indian Overseas Bank’s commitment to enhancing customer satisfaction and making banking procedures more accessible.
Ajay Kumar Srivastava, the Managing Director & CEO of Indian Overseas Bank, emphasized the bank’s dedication to continuously improving customer banking experiences through this scheme, which exemplifies the institution’s proactive efforts to adapt to the evolving needs of its clientele and leverage technology for a more efficient and customer-friendly banking journey.
