Banking Blogs

Choosing a pay order vs demand draft depends on your payment requirements and several other factors. While these banking instruments serve the same purpose, they differ in their key features. This includes clearance time, amount, acceptability and more. Although their use has reduced over the years, several merchants and individuals still rely on them. As …

If you’re wondering how to send money without sharing your account number, MMID is what you need. It’s a simple and secure way to transfer funds using mobile banking. MMID full form is Mobile Money Identifier. It’s a 7-digit unique code linked to your mobile number and bank account. With this code, you can make …

There are types of cheques that can’t be cashed immediately. One such example is a PDC cheque. The PDC full form is Post-Dated Cheque. These cheques are legally valid in India for 3 months from the date written on them. As per RBI rules, banks are not allowed to process a PDC cheque before the …

Choosing between IMPS vs NEFT electronic fund transfer options depends on multiple factors. These two options serve the same goal of making convenient fund transfers but have many distinct features and benefits.  Old-school fund transfer methods allow you to send and receive a higher amount through multiple channels. Therefore, many private and government agencies rely …

Wondering how to check your Central Bank of India account balance? Don’t worry—it’s super easy! Whether you’re using a phone or visiting an ATM, there are plenty of simple ways to do it.   Here’s a quick guide that helps you understand easy ways to check your balance anytime, anywhere, including using the CBI balance check …

The IDBI Bank balance check number is one of the easiest options to get your account balance. Apart from this, IDBI Bank offers alternative ways to track your balance:  You can run an IDBI Bank account balance check instantly using any of these options above. Remember, you must register your mobile number to enjoy these …

Want to check your Union Bank account balance without any hassle? You can just use the Union Bank balance check number. Simply call or send a message and you’ll get your latest balance instantly. Just ensure that the mobile number you are using is registered with the bank. You can also explore other easy ways …

The full form of IMPS in banking is Immediate Payment Service. This fund transfer facility gives you real time updates on your online payments, including bills, fees, tickets, merchants and more. Knowing what is IMPS is important for transferring funds easily as you can use this facility for urgent needs.  However, there are limits, charges and …

Under the Negotiable Instruments Act of 1881, cheque bounce is categorised as an offensive act. If your cheque bounces for any reason, you must face consequences such as monetary penalties, imprisonment or both. It can also impact your credibility and lead to other such negative effects.   Read on to learn about the meaning of cheque …

Wondering what an Issuer Identification Number or IIN is? Well, it’s an important component of payment cards, like credit and debit cards. The number helps identify the card issuer and your card’s processing network. Apart from this, you get to enjoy several other benefits, making this an important part of your payment card. Here’s a …