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ABB - Any Branch Banking
Indian Overseas Bank introduced Any Branch Banking in Delhi in November 1998. The facility is now extended to 319 centers covering 193 branches. Intercity connectivity ensures that the facility is available between any two branches across the 319 centers Currently the service is available in 771 branches and 84 extension counters.
The customer of a branch under ABB network applies to the branch for availing the ABB facility. He is issued a plastic card with a magnetic stripe. The ABB/ATM card bears the customer's photograph and signature on its reverse for the purpose of identification. The customer can now use the card and his cheque book to transact at other ABB branches. The ABB card works as an ATM card for the 306 ATMs across the country that are connected to ABB network.
ABB service is currently offered to personal customers only (individuals, joint, either/anyone or survivor) for the following transactions:
· Balance Enquiry
· Last Five transactions
· Statement of account
· Cash withdrawals by the account holder for amounts between Rs. 500/- and Rs. 25,000/-
· Deposits by the account holder for amounts between Rs. 500/- and Rs. 25,000/-
· Charges for SB accounts is Nil. For Current account and Cash Credit accounts the charges are Rs 57 per transaction (maximum) |