A passbook has comprehensive data on all your banking activities. It provides a concise overview of your account’s transactions. By reviewing your passbook, you get a valuable insight into your financial status and gauge how comfortable your financial status is. Some of the account holders still prefer holding a manual passbook for various reasons. Learn the importance of a passbook and how to use one in this article.
What is an IDFC Passbook?
IDFC passbook is a physical notebook that the bank provides its customers when they open a savings account, current account, or recurring deposit account. It contains all the details of transactions conducted in the account. The transactions are mentioned in the order of execution. All the debit and credit transactions and details of your fixed deposits will be available in the passbook.
In short, the IDFC passbook is a log of your financial dealings through the account in IDFC Bank. The information you can collect about the transaction details from the passbook includes the date of the transaction, name of the sender/receiver, mode of transfer, reference number, amount, and the balance on a particular date after all the transactions for that date.
Passbooks are the remnants of traditional banking which is still preferred by most customers as the details of their financial activities are easily accessible without having to depend on internet banking or mobile banking. This is the reason online banking has not been able to completely replace the passbook culture.
How To Use an IDFC Passbook?
On opening an account with IDFC Bank, the bank provides a welcome kit that comprises a passbook, cheque book, debit card, etc. After the pages of the initial passbook are fully used you can apply for a new IDFC bank in various ways. You should understand the importance of a passbook and know how to use it for effective management of your finances. Here is how you use the passbook,
- As far as possible carry the passbook every time you visit the Bank and get the transactions updated immediately. For instance, if you withdraw cash or deposit cash at the bank, get the transaction updated at the counters or use the Passbook Printing Kiosk that is available at the IDFC bank branches.
- The passbook has to be updated at regular intervals to know the status of your pending payments, cheques issued or deposited, EMI deductions, bank charges collected, or credit of FD interest, etc
- A timely review will help you follow up on any pending payments or know the reasons for the return of inward (cheques issued by you) or outward (cheques deposited into the account).
- Reconciliation of the entries in the passbook with the ledger maintained by you can locate any missouts, discrepancies, unreasonable charges collected, etc and get it rectified immediately.
How To Download an IDFC Passbook?
IDFC customers can obtain account statements online through IDFC mobile banking or net banking but the bank has not provided the facility of IDFC e-passbook. IDFC customers are provided with passbooks to record the transactions in their accounts. To apply for a new passbook whenever required, IDFC Bank has provided various options. They are:
By Visiting The Branch
If you have lost your passbook or it is stolen or damaged, you may require a duplicate passbook.
- Visit the IDFC Bank branch and apply for a duplicate passbook by giving a request in writing. You should give a written request at the branch.
- The bank issues a new passbook when all the pages of the passbook are used up.
- The letter should be addressed to the branch manager and should contain the following details:
- Account Number
- Customer Name
- Reason for a new passbook
- Entries required-provide the from and to date
- Delivery mode
- Communication address
- Fill in the above details and affix your signature. If the account is held jointly, then all the account holders have to sign.
- Submit the form and on processing the request, a new passbook with the required entries will be provided.
IDFC Bank Apply Online
IDFC Bank has simplified the procedure of obtaining a new passbook. You can now request for IDFC passbook online through mobile banking, internet banking, or through an IDFC passbook request form.
How to get IDFC Bank Passbook by placing a request through net banking or mobile banking?
- Login to the IDFC Bank Net Banking portal or mobile banking app
- Locate the Passbook icon on the menu and click on the ‘Request a new passbook’ option
The request will be acknowledged and the passbook dispatched to your address.
How to get IDFC Bank Passbook by placing a request through the IDFC passbook request form?
You can fill out an IDFC passbook request form and submit the duly signed form to the bank official and get a new passbook.
- Download the IDFC passbook request form from the bank’s website and print it
- Fill out the form with the following details
- Account number
- Name of the account holder
- Range of entries required. Provide the from and to date
- Mode of delivery
- Submit the duly signed form to the concerned department
- The form will be processed and a new passbook issued upon acceptance of the request.
What are the details mentioned In The IDFC Passbook?
The first page of the passbook will have the complete details of the account holder and the bank branch. Even when continuation passbooks are issued, the first page will have all the details.
Details available on the first page
- Name of the account holder
- Address of the account holder
- Customer ID
- Account Number
- Type of Account
- Mobile Number
- Date of Birth
- Nominee details
- Date of opening the account
- Name of the Bank and branch
- Address of the branch
- IFSC Code of the branch
The subsequent pages are meant for recording the transactions and will have the following details
- Date of the transaction ( for all transactions)
- Reference numbers if any (like cheque no, NEFT/RTGS/IMPS reference etc)
- Interest earned on deposits- amount and deposit number
- Credits from third parties-Name of the sender, mode of transfer, amount, purpose of the transfer, and reference number
- Cash deposits-amount and reference number if any
- Funds transfer to third parties-Name of the beneficiary, reference numbers depending on the mode of transfer, amount, and purpose of the transfer
- EMIs-amount, the loan account number, mode of debit (Auto-debit, Cheque issued, etc)
- The account balance will be mentioned after every transaction
Charges To Avail of IDFC Passbook
IDFC Bank does not collect any charges for any passbook services including issuing a duplicate passbook.
Benefits of IDFC Passbook
The benefits of the IDFC Passbook are manifold.
- Easy and quick access to your account information whenever required
- A transparent record of all the activities in your bank account
- Helps effective monitoring and financial management
- Can track expenses and savings
- It provides a clear snapshot of your financial status
- Promotes financial responsibility and awareness
- Can detect errors and discrepancies
- Useful for accurate filing of income tax returns
- Helps budget your expenses and plan finances skilfully