Indian Bank introduces account portability facility

State-owned Indian Bank has introduced account portability feature which allows its customers to retain the account number even if they change the branch.

The facility would enable the customer to have the freedom of operating his or her account from any of the branches, Indian Bank said in statement.

"The customers can shift his or her account to any of the desired branch any number of times, without any change in the account number, with just a change in home branch code," it said.

"Customers can approach his home branch or the transferee branch with the request letter for transfer of account," it said.

Home branch having the customer's account certifies the know your customer (KYC) documents while transferring the account to another branch, it added.

Indian Bank has got the account portability feature in-built in core banking software, for transfer of the deposit accounts from one branch to another branch, it said.

Source: ET