IOB Logo

IOB Transfer Money

IOB transfer money service is available to all customers who have an account with the bank. Using this facility customers of IOB can instantly transfer money to anyone in India. Fund transfer can be directly initiated on mobile phone and money will be deposited in beneficiary’s account in real-time.

With the help of online IOB fund transfer service you can send money to anyone without writing a cheque. Just by downloading our mobile app, you can add your IOB account and generate a secure mobile banking PIN. Using this PIN you can transfer funds to anyone in India from your IOB account.

Fund transfer can be initiated without adding beneficiary in your IOB account. All transactions are 100% safe and secure and you will instantly get SMS from Indian Overseas Bank about the transaction. Recipients will also receive SMS from their bank after money is credited in their bank account.

Following are the features of online IOB transfer money service:
  1. Real-time money transfer from bank account
  2. Transfer money without adding beneficiary
  3. Transfer money between your own IOB accounts - from one account to another account
  4. Transfer money between your own accounts in other banks - from IOB account to other bank account
  5. Online IOB money transfer can be done 24x7, 365 days a year
  6. Funds can be transferred on all Saturdays, Sundays and even bank & public holidays
  7. Money transfer from Indian Overseas Bank to all banks in India supported
  8. Transfer upto Rs. 1,00,000 per day from your IOB account. This is the maximum limit as set by Indian Overseas Bank
  9. Upto 10 transfers per day allowed from your account. This is the maximum limit as set by your bank
  10. No charges for online IOB money transfer service
  11. Instantly receive SMS from IOB once transfer is initiated
  12. Recipient receives SMS from their bank once funds are credited in their account
  13. Funds are transferred in real-time from your Indian Overseas Bank account to recipient’s account via BHIM UPI

Download App For

How to transfer money from IOB account online:

  1. Download Cointab app for Android or iPhone
  2. Install app using mobile number which is registered in your IOB account
  3. For bank account registration, select IOB
  4. All your IOB accounts will be registered and activated for mobile banking
  5. Generate Indian Overseas Bank banking PIN
  6. Select Transfer Money
  7. Enter beneficiary’s name
  8. Enter beneficiary’s bank account number & IFSC code
  9. Enter amount
  10. Enter your banking PIN (which you generated in the previous step)
  11. Money will be debited from your IOB account and credited in recipient’s bank account in real-time
  12. You’ll get an SMS from Indian Overseas Bank about the transaction. Recipient will also receive an SMS from their bank

Online transfer of money from your IOB account is a very simple and quick process and you can use the transfer money service whenever required. Please keep in mind that the maximum transfer limit is Rs. 1,00,000 per day and 10 transactions per day.

Online Money Transfer Service Features

Money transfer from bank account to anyone in India in real-time

Online IOB money transfer service enables you to do fund transfer from your account to anyone in India in real-time. It is not necessary for the beneficiary to have an account with IOB. They can have accounts with any bank in India and you can still do fund transfer in real-time.

Without adding beneficiary transfer money

Typically for online fund transfers you have to register and activate beneficiaries. But using our app you can do quick fund transfer without adding beneficiaries. For initiating fund transfer you only require beneficiary’s account number and IFSC code.

Fund transfer to Self account

One major advantage of online IOB transfer money service is that you can transfer funds between your own accounts easily. If you have multiple accounts with the bank then you can easily transfer funds from one account to another. In fact even if you have accounts with other banks you can transfer money from Indian Overseas Bank account to other bank accounts.

BHIM UPI ID transfer money

Using online IOB transfer money service you can even transfer money to beneficiary’s BHIM UPI ID. This helps you transfer money without requesting for beneficiary’s bank account number & IFSC code. Once you transfer money, it will be credited in the beneficiary’s bank account which is linked with their BHIM UPI ID. Fund transfer is done in real-time.

Transfer money to mobile number

Using our app you can even transfer money to your friends and family via their mobile number without requesting for their bank account number & IFSC code or BHIM UPI ID. Their bank account which is linked to their mobile number in our app will get credited in real-time after you transfer money to them.

Transaction limit

Transfer limit is upto 10 transfers on a daily basis, upto a total of Rs. 1,00,000. This is the transfer limit as set by Indian Overseas Bank.

Zero fees for using online money transfer service

IOB offers online money transfer service for free of cost so that you don’t have to pay any charge for transferring money from your bank account to any account in India.

24x7 service

Online money transfer service is available 24x7 so that whenever required you can do fund transfer in real-time. This helps you do money transfers without visiting the branch or ATM. This service also works on weekends, bank holidays and public holidays.

Online Transfer Money service benefits

Time saving: You can save a lot of time by using online IOB transfer money service instead of visiting the branch or ATM or writing a cheque. You can use it to transfer money to beneficiary in real-time.

Easy access: Money transfer service is available online 24x7, 365 days a year so you can use it whenever required.

Cost saving: IOB provides online fund transfer service to its customers free of cost hence there are no charges for transactions you perform.

Security: All Indian Overseas Bank mobile banking transactions are 100% secure due to linking of your account on your mobile number and your banking PIN

Multi Purpose: You can not only use Indian Overseas Bank money transfer service to transfer money to beneficiary, but also to recharge your mobile / DTH, pay electricity / gas / credit card bill, buy insurance, book fixed deposit, buy mutual fund, etc.

IOB Online Money Transfer security

IOB Online Money Transfer is fully secured in the following ways:

  1. IOB UPI registration for your bank accounts can only be done on your mobile due to linking of your mobile number with your bank account
  2. For using BHIM services, you have to create a new UPI PIN using your debit card
  3. For performing any type of transaction you have to then use Indian Overseas Bank UPI PIN. No transaction will go through without this secure UPI PIN
  4. For additional security, you can also set up app password so that no one can even open the app without knowing your app password
  5. For enhanced safety, you can also create a PIN or pattern lock for your phone so that no one can open your mobile

IOB Online Money Transfer Timing

  • As banking is extremely crucial in day to day life, IOB UPI services can be used on all days, including Saturday and Sunday
  • Main benefit of BHIM is that you can use it at night as well
  • For your convenience, UPI facility is available even on bank holidays and public holidays
  • BHIM services are available throughout the year

Online Money Transfer Service Eligibility

To use IOB Online Fund Transfer service you have to meet the following requirements:

  • You should have a savings or current account with IOB
  • Your mobile number should be registered with your bank
  • You should have Android or iPhone mobile phone
  • You should have an internet connection either via SIM card or WiFi

Online Transfer Money Service Limitations

Following are the limitations of IOB online money transfer service:

  • It will only work if your mobile number is registered in IOB
  • It will not work without Android or iPhone mobile phone
  • It will not work without internet connection
  • You can only transfer upto Rs. 1,00,000 per day per bank account
  • You can transfer upto 10 times per day per bank account

Download App For