Missed call banking: A novel way of banking

Updated: Tuesday, February 25, 2014, 15:11 [IST]

After internet banking and mobile banking, banks have come up with another platform that allows a bank account holder to avail banking services by just giving a missed call on the specified number of the banking entity. All such services that can be availed as part of the missed call banking are only enquiry and service request related i.e. a customer can place a request for issuance of a fresh cheque or know the account balance, mini statement, account statement request etc.

Nonetheless, banking transactions through the channel cannot be routed. The step thus also does away the need to move out to the ATM for inquiring all such details about one's account.

The service has come as a help to account holder who maintain low-end mobile phones and do not have access to the Internet facility.

How the benefits of the service can be availed?

For realizing the benefits of the new and distinguished service, bank customers need to register their mobile phone numbers with the bank and get it linked to the bank account number. Once the account is linked, users can avail of the service by dialing and giving a missed call on any of the toll-free numbers designated by the bank for the purpose at no cost.

So, procedure for availing the service is to follow sms banking, wherein a banking customer sends an sms to a respective number for knowing bank balance of his or her account or for placing some service request. And as banks charge a certain fee in respect of sms banking, the service is not totally free.

The service also do not pose any risk or threat of fraud or misuse as the details can be gathered only on giving a missed call from the registered number. So, you just need to be careful in safeguarding your mobile phone against any illicit use.

Which are the banks that have introduced with the service?

Both public and private sector banks have introduced the facility only lately to make their services more customer-friendly and reduce their hassles in turn. Some of the banks that have took off with the service include Syndicate Bank, Axis Bank, HDFC Bank Indian Bank and ICICI Bank.

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