How Do I Activate My Inactive IOB Account?

How do you check my IOB account is active or not?

IOB customers need to dial 04442220004 from their registered mobile number to know their account balance.

After a few rings, the call gets disconnected automatically and IOB sends account balance details via SMS..

Why do banks charge customers who have inactive accounts?

Many banks and credit unions will charge your savings or checking account a monthly inactivity fee after a certain period of time in which there are no customer-initiated deposits or withdrawals. … The longer the time after the fee, the less chance you’ll be able to get a reimbursement.

Which bank is best for savings account?

8 Best Zero Balance Savings Account In IndiaIDFC First Bank Pratham Savings Account. … YES Bank Smart Salary Advantage. … IndusInd Bank-Indus Online Savings Account. … DBS-DigiSavings. … Kotak Mahindra Bank-811 Digital Bank Account. … HDFC Bank – Basic Savings Bank Deposit Account. … SBI – Basic Savings Bank Deposit Account. … Standard Chartered Basic Savings Bank Deposit Account.

How do you check whether the bank account is active or not?

You should visit your nearest bank branch with your account number and they will tell you if your account is active or not.

How do I activate an inactive bank account?

Most banks, none-the-less, will have following steps:Submit a written Reactivation Application. You will have to file a written application to reactive your dormant account. … Submit KYC documents. You will have to submit your KYC documents alongside your reactivation application. … Make a small deposit.

How long can a bank account be inactive?

12 monthsWhen you don’t transact through a bank account for more than 12 months, that account gets classified as an inactive account. If that particular account does not witness any transaction for another 12 months, it is further reclassified as dormant account.

Can you reactivate a closed bank account?

Closed bank account can not be reopened. However dormant or inoperative account can be activated by submitting KYC and one in person debit transaction. Some banks don`t completely close an account right away. If there is any activity in the account it will automatically reopen.

How can I check my IOB account balance without registered mobile number?

Know IOB account balance using UPI App….Method 6 – How to get Indian Overseas Bank account balance without Internet on the phoneDial *99# on your phone.On the pour message, select a check account balance.Then enter your UPI PIN, and on the next popup, you will get your account balance.More items…

How much amount can be withdrawn from IOB ATM?

IOB RUPAY CARD-CLASSIC – FeaturesEligibilityAll SB accounts, CD/CC accounts in the name of individuals or Proprietary concerns.Daily Cash withdrawal limitRs.20,000Daily limit for usage in Merchant Establishments (PoS)Rs.50,000Daily limit for usage in Internet (E-com)Rs.50,00013 more rows•Apr 4, 2019

What happens if a bank account is inactive?

An inactive bank account is termed inoperative. An account becomes inoperative if there are no transactions in the account for over two years. An inactive or dormant account with a bank is termed an inoperative account. … Once the account becomes inoperative, the account holder cannot transact in the account.

What happens if you transfer money to an inactive account?

In a process what is called “escheating” an account, banks are required to turn over funds from the inactive account to the state treasury. Once the account is sent to the state, the funds are held as unclaimed property.

How can I download IOB bank without net banking?

Method 2 – How to do IOB statement download online using IOB Nanban AppDownload IOB Nanban App on your smartphone. … Now, open the App to allow the location, SMS, and Phone permission required for the App.Now, enter the Account number and Mobile number and click on the Continue button.More items…

What does inactive debit card mean?

Inactive cards are either the blocked cards, deactivated cards or canceled cards. The customer should be in a position to know which cards are inactive and does he need to action on these cards.

Why do bank accounts go dormant?

A dormant account is an account that has had no financial activity for a long period of time, except for the posting of interest. Financial institutions are required by state laws to transfer resources held in dormant accounts to the state’s treasury after the accounts have been dormant for a certain period of time.

How do I reactivate my IOB account?

In order to re-activate your dormant Indian Overseas Bank account, you need to submit the following to your Home Branch : An Application to the Branch Manager. Proof of Identity & Proof of Residence.

What is the minimum balance for IOB?

MINIMUM BALANCE 100/- for non-cheque operated accounts and Rs. 500/- for cheque operated accounts in branches in rural and semi-urban areas. It is Rs. 500 for non-cheque operated account and Rs.

How can I activate IOB Mobile Banking?

How to activate IOB Mobile Banking App?Step 1: Download IOBMobile from the Google Play Store or Apple App Store.Step 2: Open the mobile banking app and enter the registered mobile number, mPIN and then click on “Generate OTP”.Step 3: Enter the OTP received on the registered mobile number and click on “Verify OTP”.More items…•

What is monthly average balance in IOB?

Indian Overseas Bank Minimum Balance RequirementsAccountMinimum Balance RequirementIOB – Savings Bank Gold IQuarterly Average Balance of a minimum Rs 50,000 or more.IOB – Savings Bank Gold IIQuarterly Average Minimum Balance of a minimum Rs 1,00,000 or more.8 more rows