A passbook is a compact booklet issued to individuals who open a savings account with the bank. This book is a vital record of all the financial transactions in the account with YES Bank. It serves as a comprehensive ledger documenting deposits, withdrawals and balance updates. It is a copy of all the activities in an account offering transparency and enabling customers to track their finances conveniently. Regular updating of the passbook ensures accurate account information and supports better financial planning.
What is a YES Bank Passbook?
The YES Bank Passbook is a physical notebook provided by the bank at the time of opening an account to record the transactions in your account. All the activities in the account will be recorded chronologically in ascending order (date wise). This will give a clear picture of your expenses and income in your account. Regular updation of the passbook will give up-to-date information about your financial standing. You can fine-tune your monthly budget and cut down on unwanted expenditures on a periodical review of the account.
If you open an account online, you will have to visit the YES Bank Branch and give a written application for a passbook. YES Bank does not have a dedicated mobile app for YES Bank Passbook online. However, by downloading and registering for YES Bank Mobile
App you can view your mini statement, get your account balance, and also download a detailed statement.
How to Use The YES Bank Passbook?
YES Bank Passbook is the only record for your account transaction history. You can view historical transactions anytime you need clarifications regarding a particular transaction. Missing out on recording any transaction may cause issues in the future when you need clarification of that transaction. To eliminate this situation, you should follow some discipline in handling your passbook.
- Carry your passbook whenever you visit a branch especially when you are withdrawing or depositing cash. The transaction can be recorded as soon as your account is credited or debited with the amount.
- Get the passbook updated regularly to have the latest information about your account status.
- Keep the passbook safe. Ensure that nobody else has access to your passbook. Your financial data should be only for your reference and kept secret.
- You no longer have to visit a branch and stand in long queues for updating the passbook. You can visit any YES Bank ATM and record the entries using a passbook printer available in the ATM.
How to Download YES Bank Passbook?
YES Bank does not have a dedicated app for YES Bank m Passbook to date. An e-statement is made available through YES Bank Mobile Banking and YES Bank Net Banking. However, the bank provides a passbook for all its savings account holders on the date of account opening. If you have opened a YES Bank account online, you can apply for a new passbook by visiting the YES Bank branch by submitting a written application. The letter should be addressed to the branch manager and the following details provided.
- Name of the account holder
- Account Number
- Mobile Number
- Customer ID
Enclose self-attested copies of KYC documents and submit the duly signed letter to the concerned bank official. If the mode of delivery is mentioned in the letter, the bank will send the passbook as requested. No fee will be collected for issuing new passbooks and continuation passbooks.
If you need a duplicate passbook you should visit the branch and give a written application with your personal and account details. The reason for the request should also be mentioned. The bank will issue a duplicate passbook with the current balance. A fee will be charged to issue a duplicate passbook.
What are the details mentioned in YES Bank Passbook?
The first page of the YES Bank Passbook will have complete details of the bank branch where you have opened the account and your personal and account details. The front page of the passbook will also have your photograph with the bank’s attestation. The details mentioned on the front page include
- Name of the Bank
- Name of the Branch with Address
- Contact details (Telephone Number and Email ID)
- IFSC Code of the branch
- Name of the Account Holder
- Contact Address
- Account Type’
- Account Number
- Date of birth
- Date of account opening
- Customer ID
- Nominee name
- Nominee registration number
- Signature of the bank official
Transactions will be recorded on the subsequent pages and will have the following details.
- The transaction page will have 6 columns. The columns are for Date, Particulars of the transaction, Reference Number, Withdrawals, Deposits, and Balance
- Under the particulars column the complete details of the transaction like the beneficiary/sender’s details and mode of transfer, and purpose of transfer will be mentioned.
- The withdrawal column will have the debit amount and the deposits column will have the credit amount.
- The reference number will be either the cheque number or the NEFT/RTGS/IMPS reference number.
- The balance will be recorded in the balance column after every transaction.
A glance at the passbook will give you clarity about every transaction you make through the account.
Charges to Avail of YES Bank Passbook
The bank does not collect fees for issuing new passbooks and continuation passbooks. If you apply for a duplicate passbook, you will have to pay Rs; 100 for the issuance of a duplicate passbook with the current balance.
Benefits of YES Bank Passbook
The YES Bank Passbook is a valuable financial tool that comes with an array of advantages for its account holders. They are:
- It eases the monitoring of financial activities without depending on any digital platforms.
- The customers have immediate access to transaction history, interest earned, and interest expended. All this information is in a physical booklet which provides a sense of security and control over financial data.
- It promotes financial discipline by allowing customers to review their spending patterns and identify areas where they can curtail expenses and make wise investments.
- It helps in setting financial goals for the future.
- It is a legal document that serves as proof of transactions when discrepancies or disputes arise.
- For individuals who have no access to an Internet connection or those who are not comfortable with digital platforms, a passbook is an easy means to stay updated with their account details.
