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IOB - Dont torture me
May 13, 2009 05:02 PM 9500 Views
(Updated May 13, 2009 05:07 PM)

Phone Banking:

ATM Availability:

Internet Banking:

Customer Service:

The following are some of the Horrifying experience which me and my colleageus have experienced with Indian Overseas Bank.

The Initial Pain

The company that I work for is a Private Company and it switched its banking from Kotak bank to IOB for salary accounts. While opening up the account the bank representative got us the Application forms and we filled it up. The shock came when we were asked to fill up the Bank Application form for Online Banking. In the Form we have to fill login id of our own and a password too!. We had to write down the password and submit the application form at the banks branch. Many of the guys still have not got their online banking facility working yet even after a year!.

Reset Password/PIN anything the IOB Way!

Those that forgot the banking password/PIN had to get the password request form taken printout, filled it up and submit it to the branch!. For every friggin request the bank expects customers to walk to its branch to take down the request. In this era of private banking, some banks have gone so ahead that you can reset your password securely within seconds online.

Imagine guys staying outskirts have to travel 20-25 km to submit forms!. These guys wont get the application forms in anyother branch. Such customer service. It leaves your eyes watery.


The bank still follows Passbook method for tracking bank transactions. If you require last few months of bank transaction details you should be ready to face the ire of bank employees who think that you are a dumbass. The employee tells you that he cannot printout transaction details on the passbook if you had not gone to the bank in months to get passbook printed!. Pat comes the reply "Printer/System cant print these many details". Fact is it is note more than 10 -15 lines.

IOB Website(ISO 999999999999999 CERTIFIED).

The IOB website lets you take last few months of bank transaction printout but that doesnt come with IOB logo. IF you require a printout in banks Computer papers you should go to YOURbranch and not any other branch even for a simple printout.

The Website Behaves horrificly. It sometimes tells you that you are logged out and need to login back. But at the same time lets you view last transaction details!.

The Once working Fund transfer is now up for grabs for anybody who wants to do Software Testing. Easy as a plum cake I bet you would find a dozen bugs when you start your testing!. I found 3 so far all giving Java exception errors and informing me that I have signed out!. But letting me view transaction details too!.

If I can find the guy who is responsible for playing with customers money By designing such a crappy website for a National bank. I would rub chilli in his eyes and his$.

WANT LOANS Check out our IDEA!

One of my colleague approached IOB for loans and pat came the reply from the bank employee that they need a letter from our company that they will be responsible if we do not pay our dues!.

IOB where are you from? Planet Pluto?


Getting additional Cheque leafs is a Pain. You would need to answer so many questions that even your dad wouldnt have asked you when you were a kid!. Why do I need to answer IOB on what im going to do with the cheque leaf if I ask bigger cheque leaf book and not the smaller one containing 25 leafs.

I once took a bank statement successfully from a different branch after I threatened that I would have to talk with the manager if my request is not taken up.

PERFECT ATM and Super Debit CARD.

*Most of the ATM's will be out of order for majority of the days. What can we do if the problem is at banks's end? We cant even use the luxury of using another ATM to withdraw from IOB account!.

The Security guy will be dozing off inside the ATM. You gotta brace yourself for anything that may happen!.

When I went overseas I knew IOB will screw me with their Debit cards at critical times. I already faced it twice while shopping in chennai/bangalore. After I had done shopping the CARD wont work!. So I took the private banks Debit Card and used it to avoid embarrasment outside/inside India!.

*Interest Rates

The Interest Rate is just 3 - 3.5% on savings account while my previous banker gives me upto 7% per annum on deposits. I'm writing this Horrific experience after I decided not to leave a penny in IOB. I would now have to opt the manual way of using cheques to transfer my money back to my original private banker. The Fund Transfer is getting me crazy!.

God save IOB customers like me.

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Indian Overseas Bank