Today We Know Online Fund Transfers Between IOB Accounts and Other Banks.When Indian Overseas Bank was established in 1937, India had a population of around 308 million. By 2020, that number is expected to rise to almost 1.3 billion. Nationalized in 1969, the bank quickly shifted its emphasis to foreign currency services in response to rising demand from customers who were increasingly using international travel and cross-border payment solutions. Karaikudi and Chennai in India, and Rangoon in Myanmar (formerly known as Burma) were opened at the same time, eventually leading to a location in Penang, Malaysia.
Over the course of its existence up to this point, the bank has grown, opening offices across India and in many other Asian countries, including Singapore, Hong Kong, Thailand, Sri Lanka, and South Korea, for a total of more than 3,400 branches around the globe.IOB received the “Reformed Excellence” and “Deepening Financial Inclusion & Digitalisation” awards from the Department of Financial Services’ EASE Banking Reform Award program in 2019.
Located in the city of Chennai (Madras), Indian Overseas Bank (IOB) is a prominent financial institution. The software allowing Indian Overseas Bank’s clients to conduct banking transactions online was built in-house by the bank’s Information Technology department, which has an ISO certification. In addition to almost 2500 automated teller machines (ATM’s) located throughout India, this bank has achieved full networking capability. In addition to being a government-recognized bank in India, IOB also provides mobile banking services.
It’s convenient to have access to online banking. Your bank will facilitate a quick and simple money transfer to any other bank account. You may send funds to any other branch of the same bank, or even to a different bank entirely. However, it’s crucial to provide accurate information such the account holder’s name, bank branch, and IFSC number.
Follow some steps to transfer money from IOB
There are two steps to transfer money from IOB
1) Money Transfer from the IOB to Any Other Bank
When the payee is already set up in iob, transferring funds to another bank online is quick and simple. Transferring funds from iob to SBI, PNB, Canara, Bank of India, Bank of Baroda, Axis, ICICI, HDFC, or any other Indian bank is possible with this method. To do so, just follow these instructions.
- To access your account, enter your username and password at https://www.iobnet.co.in/ibanking/login.do.
- Access “Remittances” through the main menu.
- To send money to a different bank using Neft, use the “Funds Transfer” menu item on the right-hand side of the window. Select “Proceed” again and again to get to the billing page.
- Please provide your information below and then click the “Proceed” button.
- Select your own credit account as the “Pay from” option.
- Select the account of the person or organization you are sending money to and click “Transfer Amount to” (or “Debit Account”) to initiate the transfer.
- Commentary Anything is acceptable as the sender’s information.
- Enter the amount in Indian Rupees.
- After that, go ahead and input the transfer PIN and send the money.
- After that, a one-time PIN will be sent to your mobile device. Key in the OTP and finish the current transaction.
2)money transfer between two IOB accounts
- The same as it would be for transferring money to any other bank account: log in to your IoB net banking account and go to the’remittances’ tab.
- To do this, go to the “money transfer” section of the website, change the drop-down menu to “iob account” from “other bank account,” and then click the “continue” button.
- The fourth step is to choose a debit and credit account and then make a note about each. After that, you’ll need to input the amount in Indian rupees and hit “continue.”
- Click the “transfer money” button after entering the “transfer pin” your bank gave you.
- You’ll need to enter the one-time password (OTP) sent to the phone number you provided at registration before you can finish the purchase.
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