Using your post office savings account just became easier. The Department of Post, through a circular on Monday, announced that it has launched mobile banking for its savings account customers. According to the circular, the facility will be available from October 15 for all the post office savings account holders of the CBS (core banking solutions) post offices. (You can read the full circular here.)
The launch of the mobile banking facility comes almost a year after the Department of Post launched Internet banking facility for its savings account holders.
Here are some details of how post office savings account customers can use the mobile banking facility.
Who can avail the mobile banking facility?
As per the circular, the eligibility criteria are as follows:
a) Customers should have post office savings account in CBS post office.
b) Customers should have valid login and transaction credentials of Internet banking. If Net banking is not enabled, mobile should be enabled after enabling the net banking option at CIF (customer ID) level by the SOL (service outlet).
c) Either single or Joint ‘B’ account type customers are eligible
d) Joint ‘A’, Minor, Illiterate, branch office accounts are not eligible for availing the mobile banking facility.
Accounts opened by two or three adults operated by them jointly or by the survivor/s is a Joint-A type account. On the other hand, accounts opened by the two-three adults and operated by either of them or either of the survivor/s is called Joint B type account.
To avail the mobile banking facility, certain pre-requisites have to be fulfilled by the savings account holder. These pre-requisites are as follows:
a) Customer should have valid Email ID
b) Customer should have valid PAN
c) Customer should have a valid unique mobile number
d) CIF ID or customer ID (printed on the first page of your passbook) should be updated with the correct first name, last name, Date of birth, father’s name, gender, valid identity and address proof, correct present address, mobile number, PAN number and Mother’s Maiden name.
How to apply for mobile banking facility
Eligible post office savings account holder can apply for the facility at any CBS head/sub post office but not in branch offices. The savings account holder has to submit the duly-filled form (Post office savings bank (POSB) ATM card/Internet/Mobile/SMS banking service request form) available with the post office.
The KYC of the said account holder should be completed. If your KYC process is not completed, then you have to undergo the KYC process at the time of submitting your request form.
The form can be submitted only in a CBS post office where the savings bank account is held.
Remember while availing the mobile banking facility, the mobile number should be unique for each customer and same mobile number cannot be used for any other CIF or customer ID.
Once the form is submitted at the branch, your mobile banking facility will be enabled after 24 hours. You can download the ‘India Post Mobile Banking’ app from Google Play store.
Some of the screenshots of the app from Google Play store
Your CIF ID will be user ID and your transaction password is the password which is already set through internet banking facility.
Facilities that can be availed via Mobile banking
Following are the facilities that can be availed by the post office savings account holder via mobile banking facility
- Account balance and details – savings, RD, LARD (Loan against Recurring Deposit), TD, PPF, Loan Against PPF, NSC
- Transaction history – Saving, RD, TD, PPF, Loan against PPF, NSC
- Mini statement – Saving, PPF
- Funds transfer between own savings account and other post office savings account holder
- Funds transfer between savings account to own/linked RD and own/linked LARD accounts
- Funds transfer from savings account to own/linked PPF (Subscription and Loan on PPF) Accounts.
- Request for RD account opening
- Request for TD (Time deposit) account opening
- Request for stopping cheque payment
If in future, you wish to disable your mobile banking facility, then the same can be done by visiting your post office branch. The mobile banking facility will be disabled after 24 hours.
For any complaint regarding mobile banking, a customer can either call on toll-free number 1800-425-2440 or send an email at [email protected] If the customer complains at any CBS post office, his/her complaint may be accepted and forwarded to the above email ID.