Well to provide better customer experience, the postal department will also allow mobile banking for its savings account holder. And this will facilitate millions of customers to access their accounts at the post office and even transfer funds between PPF and savings account.
Using this app, customers shall even be able to open a new account at the post office or kick off with new investments. Eligibility criteria for availing Mobile Banking. It is to be noted that the mobile banking functionality shall only be available for branches that are CBS.
Eligible criteria for availing mobile banking of India post savings account:
1. One should be maintaining Savings account at the CBS post office
2. Also, net banking should be activated before getting access to mobile banking. Make sure you know the correct credentials for net banking.
3. Mobile banking for post office savings account shall be provided to customers having single or joint B accounts.
4. Joint A or minor account holders will not be provided with mobile banking.
In this aspect as per the post on 'India post-Mobile Banking app', the department of Post will release the date for the announcement for beginning the registration and activation of mobile banking.
How to download PO mobile banking app?
After the post office is done with the formalities at its end and all the credentials are registered with them, users will be informed on activation of the mobile banking. It is to be done after 24 hours of activation at the CIF level by downloading the 'India post-Mobile Banking app' through Google play store.
What can be done using a mobile banking app?
- Users will be able to view savings account balance
- Open new accounts.
- Transfer funds from savings account to other post office savings account and also other post office schemes such as time deposits, PPF, RD etc.
- The mini statement can be viewed for different accounts.
- Also, transaction history can be reviewed.