With the evolving economy, It has nowadays become a daily thing to transact money. From buying groceries to investing a large sum of money, people prefer to transfer money online because it’s convenient and quick. Even if you want to check the balance in your bank account, you can do it with just a few clicks on your phone. Almost everyone has a mobile banking app on their device or access to an Internet banking portal. We can easily check our balance by getting a mini statement. In this article, we will pick up two banks: Indian Overseas Bank & Kotak Mahindra Bank to discuss how we can check our balance and make transactions.
What is a mini statement?
A mini-statement is a short report of your recent transactions and account balance. It is different from a bank statement as the latter contains transactions made over a longer period of time. A mini-statement contains only the last 5-10 transactions whereas a statement may contain the transactions made over a period of a few days to years depending on the timeframe you select. A mini statement does not contain information regarding bill payment, credit card payment, or any other outstanding payment whereas a statement contains all the details of the account. Getting a mini statement is easy. If you are a customer of an Indian overseas bank, you can get an IOB mini statement through the following methods.
IOB mini statement through phone call
You can get an IOB mini statement by just calling its mini statement number.
- Dial the IOB mini statement number 04442220004 from your registered mobile number and wait for the call to be disconnected automatically.
- Shortly after the call, you will get your mini statement on your number in the form of an SMS containing the last 5-10 transactions and the current balance in your account.
If your number is not registered with the bank yet, register it by following the steps below:
- For online registration, you have to go to the official website of an Indian overseas bank.
- Then, in the profile section see if there is an option for “update mobile number”. Select that.
- Then, the next step is to enter the mobile number you wish to update. Enter all the other required details such as your account number, name, address, etc.
- Then, your mobile number will be registered with an Indian overseas bank.
- If you want to do it offline, you need to go to a nearby Indian overseas bank branch.
- Request the staff for a mobile number registration form.
- Enter all the required information such as your personal details, account details and the mobile number you wish to register.
- Then, submit it along with some identity proof documents. These documents can be your Aadhaar card/driving licence/any other government-issued identity card. The bank staff will verify the form and your mobile number will be registered with the bank.
IOB mini statement through SMS banking
You can also get an IOB mini-statement by just sending a text to their mini-statement number.
Write “MINI<space>last 4 digits of A/c Number” and send it to 84240 22122. Then, the bank will send you a reply text containing the last 5-10 transactions and the current balance in your account.
IOB mini statement through mobile banking
- First, you need to download and install the IOB mobile app available in your app store.
- Set it up by linking your bank account to the app. You can link more than one account with the app.
- After the account is linked with the app, go to the balance check option.
- Tap on it and now, you will see your current account balance on the device screen.
IOB mini statement through ATM
If you don’t have access to a mobile banking portal, you can also get a mini statement through an ATM. just go to a nearby ATM and insert your card into the card slot. Then, enter the 4-digit PIN code of your card. Do not disclose this code to anyone to prevent scams and misuse of your card. There will be various options on the screen. Select “mini statement”. Then, you can get your mini-statement printed on a small sheet of paper.
IOB mini statement through Internet banking
- If you are already registered for Internet banking, go to the official website of Indian Overseas Bank and log into your account using the user ID and password that you created.
- Click on “account summary” and there you will see your current balance in your account. You can also get a bank statement through Internet banking by selecting a longer timeframe.
The options mentioned above are convenient for balance checks. Now, let’s see how we can make transactions by taking Kotak Mahindra Bank as a model.
There are three major electronic fund transfer systems which most people use: NEFT, IMPS and RTGS. If you want to make an RTGS transaction through the branch, you can visit a nearby Kotak Mahindra bank branch and ask for a Kotak Bank RTGS form or you can also download it online.
How to make an RTGS transaction through Internet banking?
- Go to the Kotak Mahindra bank official intInternet banking page and log into your account using the credentials you set.
- Then, click on “fund transfer” and you will find the transaction options. Select “RTGS fund transfer”
- Select a beneficiary from the beneficiary list. Note that you have to add the beneficiary prior to the transaction.
- Enter the amount you wish to transfer and add a description mentioning the purpose of your transaction.
- Click confirm and also enter the OTP sent to your registered mobile number and then, click “confirm” again. Now, the transaction will be completed and the amount will be reflected in the beneficiary’s account.
Registration for Internet banking
Open the browser on your device and go to the official website of your bank. There will be an option for registration under the ‘Online Banking’ or ‘Login’ section. You have to enter some details like account number, card details, personal information, and the bank will send an OTP (One Time Password) to your registered mobile number for verification. After entering all those, set up a user ID and password. A strong password is suggested, it will be a combination of alphabets, numbers, and special characters for. After registration, you can log in to your account using the newly created credentials. Most of the time the bank prompts users to set a security question and its answer to enable two-factor authentication or link a registered device for extra security. Set something familiar to you as security questions and answers lest you should forget or get confused with it later. This is to help you recover your password.