Saturday, September 23, 2006

A Open Letter to IOB(Indian Overseas Bank)

I have been holding IOB saving account number for more than 8 years. Yesterday my wife and myself were trying to withdraw money from one of the IOB ATM center, my wife didn't remember the pin for the debit card she holds and she typed the pin incorrectly for n numbers of times, where n > 3 and the good things is that it said "Number of incorrect pin tries exceeded"  and ask to contact the local branch.When I went to the branch to get issue resolved the local branch asked me for the letter for pin regeneration and when I presented the letter they took my letter and asked to try again in different ATM with the old pin. One Guy questioned me why I forget the password I told it is human nature to forget things like password as people have to remember so many passwords and numbers.

The think that I would like to IOB to address is that people would surely forget things like password/pin, so it should be easily reset in the local branch itself rather than waiting for 2 weeks for pin regeneration which would defeat the basic purpose of getting ATM/Debit card as people won't be able to use the card till the new pin is obtained.

The other thing I noticed is that local IOB Residential branch using DOS based application for tracking their accounts I was wondering which era IOB is in. I know the nearest SBI residential branch which was using web based application  ie all the SBI Branches across India access  common Web server and Database for storing and retrieving the account information of all the account holder across india.

A smaller bank like City Union Back has purchased software from TCS for their operations for 15 crores I am not sure why IOB is not investing in this though I think some of the other IOB Branch banks could have been already available online. I haven't checked with other IOB Brach office regarding this.

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