Good news for Bank customers! This Bank has launched an easy way to transfer your account anywhere in India

Indian Overseas Bank has recently introduced the ‘Savings Account Portability Online’ scheme, a strategic initiative aimed at simplifying the process of transferring savings accounts for customers who find themselves relocating due to various reasons such as career changes, educational pursuits, or life transitions.
This innovative scheme is designed to alleviate the typically cumbersome process associated with relocating bank accounts. It provides a user-friendly online platform that eliminates the need for customers to navigate through extensive paperwork and endure lengthy waiting periods for the account transfer to be completed.
To initiate the account transfer, customers are required to log in to the official Indian Overseas Bank website (www.iob.in) and navigate to the ‘Transfer of Savings Accounts’ section. Subsequently, they must input the account number and registered mobile number. A crucial step involves the receipt and input of a one-time password (OTP) sent to the registered mobile number. Once the OTP is entered, customers can then specify the desired branch for the transfer and submit the request.
A confirmation page will display essential details such as the account number, the name of the destination branch, and its code, affirming the successful completion of the transfer process. This streamlined approach significantly reduces the time and effort traditionally associated with account portability.
It’s noteworthy that for customers to seamlessly benefit from this service, accurate registration of their phone numbers with the bank is imperative. 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. The ‘Savings Account Portability Online’ scheme 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.