Keywords: Indian overseas bank mini statement, IOB balance check number
With the rising cases of fraudulent activities in the banking sector, it is crucial to keep track of every transaction we make. There are different ways to do so. Indian Overseas Bank provides its account holders with several methods to check the transactions made. One of the methods is by getting an IOB mini statement. Before we jump into the procedure of getting the mini-statement, let’s try to understand what a mini-statement is.
What is a mini statement?
A mini statement is a condensed overview of recent activities conducted on a bank account. It serves as a snapshot of the recent transactions within a specific timeframe. Typically, a mini statement encompasses essential details such as the date and time of each transaction, the nature of the transaction (debit or credit), a brief description (withdrawal, deposit, transfer), and the corresponding transaction amount. Additionally, it may include the running balance of the account after each transaction.
The primary purpose of a mini statement is to provide a quick overview of recent account movements, enabling individuals to review their financial activities, verify payments, detect any unauthorised transaction, and stay updated on their account’s status. It offers a convenient alternative to examining the complete account statement, as it presents the most recent transactions in a concise format.
Indian Overseas Bank offers various methods to obtain a mini statement, including mobile banking applications, internet banking platforms, ATMs, or by contacting the bank’s customer care services. However, it’s important to note that the availability and format of mini statements may differ based on the bank and the specific banking service utilised.
Ways to get IOB mini statement
There are several ways to get an IOB mini statement online or offline such as internet banking, mobile banking apps, ATMs, IOB balance check number, etc. Here, we will have a look at the step by step procedure of the various ways to get an IOB mini statement.
IOB Mobile Banking App:
- Download and install the IOB mobile banking app on your smartphone.
- Log in using your internet banking credentials
- Tap on the “Account Summary” or “Mini Statement section” to view your recent transactions.
IOB Internet Banking
- Go to IOB official website
- Log in using your internet banking credentials
- Tap on the “Account Summary” or “Mini Statement “ option on the account menu.
- Select the account and time period for which you want the transaction details.
IOB missed call services
- To avail of this service, register your valid mobile number with your IOB account.
- Give a missed call to IOB Balance check number 8424022122
- You will receive an SMS containing your mini statement.
IOB ATM service
- Go to the nearest IOB ATM
- Swipe or insert your debit card
- Select your language
- Enter the four-digit pin code
- Tap the small statement option on the screen
- Choose the bank type
- You will get a printed mini statement
IOB Customer care
- Call IOB toll-free number 1800 425 4445/044-28519573.
- Request assistance to get your mini statement.
- They will instruct you to follow the necessary steps.
IOB SMS Banking
- Open your phone’s messaging app.
- Send a text message from your registered cellphone number to 8424022122.
- Send a message to 84240 22122: MINIspace>LAST 4-DIGITS OF ACCOUNT NUMBER.
- You will receive an SMS with the information of the mini statement shortly after.
Remember that the availability and specific steps may vary based on the IOB’s banking services and platforms. It’s advisable to ensure you are registered for internet banking, have a valid mobile number linked to your account, and consult the official IOB channels for the most accurate and up-to-date information.
IOB Mini Statement format
Date | Time | Transaction type | Description | Amount |
Date 1 | Time 1 | Debit | Description 1 | Amount 1 |
Date 2 | Time 2 | Credit | Description 2 | Amount 2 |
Date 3 | Time 3 | Debit | Description 3 | Amount 3 |
Date 4 | Time 4 | Debit | Description 4 | Amount 4 |
Note: The table above is just a sample. The actual mini statement will contain your account details.
Benefits of IOB Mini Statement
The mini statement provided by Indian Overseas Bank (IOB) offers several benefits to its customers. Here are the benefits of using the IOB mini statement:
- Quick Transaction Overview: The IOB mini statement provides customers with a quick and summarised view of their recent transactions. It allows them to review their account activity efficiently without the need to go through the entire account statement.
- Easy Verification: Customers can use the mini statement to verify the accuracy of transactions conducted on their IOB account. They can cross-reference transaction details such as dates, times, transaction types (debit or credit), descriptions, and amounts to ensure that all transactions are legitimate and authorised.
- Prompt Error Detection: Regularly checking the mini statement helps customers promptly identify any errors or discrepancies in their account transactions. By detecting and reporting such errors to the bank, customers can have them rectified promptly, ensuring the integrity of their account information.
- Fraud Prevention: The mini statement is a valuable tool for detecting any unauthorised transactions or fraudulent activities on the IOB account. By carefully reviewing the mini statement, customers can identify any suspicious transactions and report them to the bank’s customer service for investigation and resolution.
- Budget Monitoring: The mini statement allows customers to monitor their expenses and track their financial management effectively. By reviewing the transactions, customers can analyse their spending patterns, identify areas of excessive spending, and make necessary adjustments to their budget.
- Cash Flow Management: With the help of the mini statement, customers can keep track of their account balance after each transaction. This enables them to manage their cash flow more effectively, ensuring they have sufficient funds for their financial obligations.
- Convenient Access: The IOB mini statement can be accessed through various channels, including mobile banking apps, internet banking platforms, ATMs, and customer care services. This ensures that customers can obtain their mini statement conveniently, according to their preferred banking method.
In summary, the IOB mini statement provides customers with a range of benefits, including quick transaction overviews, verification of transactions, error detection, fraud prevention, budget monitoring, cash flow management, and convenient access to account information. It empowers customers to stay informed and maintain control over their finances.
Difference between IOB mini statement and account statement
IOB Mini statement is slightly different from an account statement.
Mini Statement | Account Statement | |
Time period | Recent transactions within a smaller specific timeframe | Transaction details over a longer specified duration(monthly/yearly) |
Level of details | Condensed overview of recent activities | Comprehensive record of all transactions |
Information type | Date, Time, Transaction type, Description, Amount | Date, Time, Transaction Type, Description, Amount, Remaining Balance |
Accessibility | Mobile banking, internet, ATMs, Customer care | Typically generated and sent by the bank |
Frequency | Can be obtained on demand | Usually generated monthly or yearly |