What is India Post Payments Bank?
India Post Payments Bank (IPPB) is an initiative of the India Post to provide banking offerings even inside the remotest location of the usa and similarly the reason of economic inclusion. The primary goal of the organization is to provide banking and monetary solutions to people inside the rural regions by leveraging its presence all through India in the shape of 1.Fifty five lakh India Post branches.
What is India Post Payments Bank?
India Post Payments Bank is a public limited agency with the government keeping a one hundred% stake thru the Department of Posts. The company incorporated on 17th August 2016 is facilitating doorstep banking. The financial institution has 650 branches and 3250 patron get entry to points. The corporation already manages 995 ATMs across the country.
Doorstep Banking by India Post Payments Bank
Doorstep banking is the facility of presenting banking and other monetary services at the house of a patron. The wide community of put up places of work and postal personnel provide banking offerings in the remotest locations of the usa. Instead of journeying the financial institution for availing banking offerings, postal employees will go to the home of the patron to offer the carrier at a nominal price. However, no price is charged for commencing a brand new financial institution account. Following offerings can be availed through doorstep banking:
Opening a financial institution account
Fund transfer
Cash deposit
Cash withdrawal
Recharge and invoice payment
People will ought to pay a nominal price starting from ₹ 15 to ₹ 25 on each transaction. The maximum limit for doorstep banking is about to ₹ 10,000.
| Service | Fee |
| On-boarding (Account opening) | Nil |
| Cash Transactions (Deposit, Withdrawal) | ₹ 25 per transaction |
| Non-cash Transactions (Apart from Deposit & Withdrawal) | ₹ 15 per transaction |
How to Avail Doorstep Banking by means of India Post Payments Bank
Follow those simple steps to avail doorstep banking supplied by using the India Post Payments Bank:
Call 155299 to book an appointment with IPPB representative.
A confirmation may be sent through SMS
When the representative gets your property, verify the visit details.
Now you could perform banking services by means of supplying your account quantity, cell range or the QR card to your doorstep representative.
Services Offered through India Post Payments Bank
Following services are presented by using the India Post Payments Bank:
| Services Offered by India Post Payments Bank |
| Savings Account (Balance up to ₹ 1 Lakh) |
| Current Account (Balance up to ₹ 1 Lakh) |
| Bill Payment and Recharges |
| Digital Payment – Remittance Services and Fund Transfer |
| Direct Benefit Transfer (DBT) |
| Group Term Insurance |
IPPB additionally affords third-celebration monetary services which includes pension, mutual finances, coverage, foreign exchange, and so on. To provide these centers, the business enterprise has partnered with numerous banks and other economic establishments.
India Post Payments Bank Savings Accounts
India Post Payments Bank gives 3 distinct financial savings accounts to its customers to pick as according to their necessities.
| India Post Payments Bank Savings Accounts |
| Digital Savings Accounts |
| Regular Savings Accounts |
| Basic Savings Accounts |
Digital Savings Account
Digital Savings Account may be opened by means of via the IPPB cellular app. The app may be downloaded from the play save for Android gadgets. The applicant has to offer his PAN and Aadhaar variety to open the account. The account can be opened every time and from anywhere. Important features of the IPPB Digital Savings Account are stated under:
| Features of IPPB Digital Savings Account |
| Instant self on-boarding (No banking representative required) |
| The interest rate offered is 4% p.a. paid quarterly on EOD daily balance |
| No monthly average balance requirement |
| Free account statement every quarter |
| Instant fund transfer and bill payment |
| Applicant should be above 18 years of age to apply for the account |
| Full KYC has to be done within a year of account opening |
| Maximum yearly cumulative deposit allowed is ₹ 2 Lakhs |
| The account can be linked with Post Office Savings Account after complete KYC |
| If KYC is not done within a year, the account will be closed |
Regular Savings Account
Regular Savings Account can be opened both via journeying the IPPB branch or through the doorstep banking. There aren’t many restrictions on these debts and the bank permits limitless withdrawals from these money owed.
| Features of IPPB Regular Savings Account |
| Instant and paperless account opening (Doorstep account opening) |
| The interest rate offered is 4% p.a. paid quarterly on EOD daily balance |
| No monthly average balance requirement |
| Free mini statement every quarter |
| Instant fund transfer through IMPS |
| Simple and futuristic banking through QR card |
| Free account statement by SMS |
| Applicant should be above 18 years of age to apply for the account |
| Aadhaar and PAN is required for opening the account |
| EOD Balance above ₹ 1 Lakh is automatically swept into POSA |
| The account can be linked with Post Office Savings Account after complete KYC |
| Unlimited cash deposit and withdrawal |
Basic Savings Account
The Basic Savings Account is the best account presented to the customers of IPPB. Unlike a normal financial savings account, account holders could make most effective four coins withdrawals in a month via those debts. Important capabilities of the IPPB Basic Savings Account are referred to underneath:
| Features of IPPB Basic Savings Account |
| Instant and paperless account opening (Doorstep account opening) |
| The interest rate offered is 4% p.a. paid quarterly on EOD daily balance |
| No monthly average balance requirement |
| Free account statement every quarter |
| Instant fund transfer through IMPS |
| Banking made simple through the QR card |
| Free mini statement by SMS |
| EOD Balance above ₹ 1 Lakh is automatically swept into POSA |
| The account can be linked with Post Office Savings Account (POSA) |
| Four cash withdrawals allowed in a month |
India Post Payments Bank Current Account
India Post Payments Bank Current Accounts may be opened by using small merchants and person businessmen. Such debts can be opened at India Post counters or through IPPB’s GDS or postman at your doorstep. This account is very pleasant for digital transactions. Features of the IPPB modern account are as follows:
| Features of IPPB Current Account |
| Instant account opening (Doorstep account opening available) |
| Zero balance account opening facility |
| Monthly average balance requirement – ₹ 1,000 |
| Free account statement every quarter |
| Instant fund transfer through IMPS |
| Banking made simple through the QR card |
| Bill payment facility at your doorstep |
| Chequebook facility available on request (1st 50 cheque leaves free) |
| Maximum End of the Day Balance – ₹ 1 Lakh |
| Free QR Card with the account. ₹ 25 required for reissuance |
| Free SMS Alerts |
| Unlimited cash deposits and withdrawals allowed in a month |
Banking Services Provided by IPPB
India Post Payments Bank gives following offerings on money owed of the institution:
| Banking Services Provided by IPPB |
| Mobile Banking |
| SMS Banking |
| Missed Call Banking |
| Phone Banking |
| QR Card |
Mobile Banking
Account holders can avail following centers thru cell banking:
| Mobile Banking Facilities by India Post Payments Bank |
| Account balance enquiry |
| Account statement request |
| Chequebook request |
| Transferring funds |
| Utility bills payment |
| Prepaid mobile and DTH recharge |
| Managing funds with linked POSA (Post Office Savings Account) |
SMS Banking
India Post Payments Bank account holders can sign up their cell range with the financial institution and avail SMS banking centers. In order to sign in the cell quantity, an account holder has to send an SMS “REGISTER” to 7738062873 from the cell wide variety connected to the bank account. Following offerings may be availed via SMS banking:
| Service | SMS to be sent on 7738062873 |
| Balance Enquiry | BAL |
| Mini Statement | MINI |
Missed Call Banking
IPPB Account holders can avail the services of overlooked call banking furnished by means of the bank round-the-clock. The Internet isn’t required to avail this provider and no charge is also charged for availing this carrier. The account holder has to provide a missed call to the precise wide variety to avail the service right away. Below noted are the centers supplied below ignored call banking:
| Service | Dial-in Number |
| Registration | 8424054994 |
| Balance Enquiry | 8424046556 |
| Mini Statement | 8424026886 |
Phone Banking
IPPB has made provisions for its customers to avail the centers of smartphone banking from the comforts in their home. The account holder can call IPPB’s toll-free quantity 155299 and get assisted with the aid of IVR or a teleoperator. Following offerings can be without problems availed thru netbanking:
| Phone Banking Services |
| IPPB’s products/services information |
| Last five transactions |
| Call-back function |
| Account-related information |
| Issuing of account statement |
| Doorstep banking services |
| Balance and transaction-related details |
| Cheque and clearing-related queries |
| Any other banking-related queries |
QR Card
IPPB has supplied a completely unique and stable approach to perform transactions easily. The consumer does not have to remember the account number or PIN. The account holder can clearly provide this QR card and authenticate using the biometrics in three easy steps:
Scan the QR Code
Authenticate using the biometrics
Perform the transaction right away.
A quantity of transactions can be accomplished using the QR card facility:
Cash transaction
Fund transfer
Utility invoice charge
Cashless purchasing
The QR card is secure sufficient and can’t be misused. Even if the card is lost, no transaction may be performed using this card as biometric verification is required to authenticate the request. In case of a lost card, a brand new card can be reissued at a nominal charge of ₹ 25.
Payments below IPPB
India Post Payments Bank allows its account holders to perform payments and fund transfer through various services.
| Payment Services by India Post Payments Bank |
| Bill Payment and Recharges |
| Remittances and Fund Transfers |
| Direct Benefit Transfer |
Bill Payment and Recharges
Account holders could make invoice payments pretty effortlessly the usage of the carrier supplied with the aid of IPPB through any of these facilities:
| Ways to Perform Bill Payment through IPPB |
| Post Office counters |
| Doorstep banking services |
| Mobile Banking App |
An account holder can perform diverse invoice payments for the following centers:
| Types of Billers |
| Mobile and DTH recharge |
| Mobile postpaid, landline and broadband bill payments |
| Electricity, water and gas bill payments |
| Insurance premium payments |
Remittances & Fund Transfers
India Post Payments Bank account holders can transfer their budget the use of numerous payment alternatives stated underneath:
| Payment Options |
| NEFT |
| IMPS |
| RTGS |
Direct Benefits Transfer
IPPB account holders can avail the facilities of DBT by way of linking their financial institution debts with Aadhaar and filing the account information for availing subsidies under various government schemes.
Feedback and Grievances
An account holder can provide his remarks or check in his grievances through various channels.
Feedback may be provided to the financial institution by journeying the department or CSPs.
Suggestions and court cases also can be made through calling the toll-loose number 155299 of the IPPB.
Complaints can also be filed on line through sending an email to touch@ippbonline.In.
Written court cases can also be made to IPPB by sending a letter to the registered address of the financial institution at
India Post Payments Bank Ltd.,
Corporate Office, second Floor,
Speed Post Centre, Bhai Veer Singh Marg,
Market Road, New Delhi-110001.
Visit our homepage for details: https://myadvisers.net/
Read more important blog articles: https://myadvisers.net/read-blogs/
No comments:
Post a Comment