Is passbook required for withdrawal?
When making a withdrawal at the bank using the withdrawal form, the customer is required to submit the passbook to finalise the withdrawal.
The passbook is not required when making withdrawals with one’s debit card or cheque form..
Can Passbook be misused?
You passbook is an unquestionable record of transactions between a bank and the customer and it cannot be falsified in any condition. Losing a passbook can result in great trouble as anyone can misuse your account details and personal details. This can lead to theft and other types of financial frauds.
What happens if you lose your bank passbook?
If you lost the passbook, you must notify the bank immediately and request to replace it. It will take around 15-20 minutes to issue a new passbook with details printed on it. Make sure to check the details printed on it. If there are any errors, correct it immediately.
Is Passbook safer than ATM?
ATM accounts come with an ATM or debit card, which makes it easier to access funds. … Given this setup, passbook accounts are generally safer than ATM accounts for long-term storage of savings.
How do I add passbook to bank?
How to Apply for New Bank Passbook in SBI?Write an application letter addressing your branch manager. … Make sure you mention the right reason why you want to get a new one.Take photocopy any one address proof document and identity proof document.Attach the photocopies of the documents with your application letter.More items…