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Your name as your BANK ACCOUNT NO? THIS bank's unique feature could make banking experience more personal than you ever imagined - Details

Indian Overseas Bank account news: In a first-of-its-kind move in the banking sector, Indian Overseas Bank (IOB) has launched a feature that allows customers to choose any name as their account number. This 'My Account My Name' feature has been introduced by the public sector bank for savings bank account customers.
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Written by: ET Now Digital

Updated Jun 13, 2023 | 07:56 AM IST

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Indian Overseas Bank savings account

IOB achieves a first in the banking industry with this feature for savings account holders.

Photo : iStock
Indian Overseas Bank account news: In a first-of-its-kind move in the banking sector, Indian Overseas Bank (IOB) has launched a feature that allows customers to choose any name as their account number. This 'My Account My Name' feature has been introduced by the public sector bank for savings bank account customers.
Simple bank account name
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The account name can only be a numeric, alphabetic, or alphanumeric combination of seven characters. For instance, a customer's account number can be "Jackson" or "1234567" or "Jack123".
According to a report by Times of India, the bank, in a press release, said that the chosen name can be used for all transactions linked to the account. Customers will not have to remember their 15-digit account numbers. IOB has made the facility available for IOB SB HNI and IOB SB MAX account holders.
The bank, headquartered in Chennai, took to Twitter to announce that it was thanks to the vision of IOB's Managing Director (MD) and Chief Executive Officer (CEO), Shri Ajay Kumar Srivastava, that the scheme was launched.

How to avail the feature?
The bank also explained how the feature can be availed in the same tweet. It said that after opening an IOB SB HNI or IOB SB MAX account and getting their account number, a customer could choose their account name online through the bank's official website.
According to the TOI report, the bank has revamped all its saving account schemes. This has been done keeping in mind the necessity of all the segments of society, such as the salaried class, High Net Wirth Individuals (HNI), students, pensioners, and senior citizens, in line with the present scenario. Further, IOB had already revamped each one of its current account schemes on the occasion of its 87th Foundation Day on February 10 this year.
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