mPassbook – Know its features, benefits and how to download

mPassbook or mobile passbook is a facility banks provide to their customers, allowing them to keep track of their accounts. It connects your savings account or current account to your mobile, allowing you to access your statement of account instantly and remotely. This means you can know your account status anytime, without making any branch visits.

Read on to learn more about mobile passbooks. 

What is a mPassbook?

In simple terms, mPassbook is a passbook or statement of account you can access on your mobile. Most banks now offer this facility for customers who prefer digital banking facilities. Access to your bank statement on your phone makes tracking transactions easier and quicker. Your online passbook will generally contain the following details: 

• Account holder details, such as name, address, registered phone number
• Account details, such as account number and customer ID
• Bank details, such as name, branch address and IFSC
• Account balance and transaction details, including amount, date, time and ID

Features and Benefits of mPassbook

Here are some top features of digital passbooks: 

• Easy Access: Having your account statement on your mobile allows you to have all your banking and transaction details available in just a few clicks
• Save Time: With an electronic passbook, you can avoid multiple visits to the bank and keep up to date with your transaction data in a few minutes
• 24*7 Availability: You can access your passbook even outside of banking hours with a mobile passbook
• Higher Security: Unlike the physical passbook, only the account holder can access your details through the MPIN-based login
• Instant Statement: Download an instant soft copy of your account statement without any hassle
• Real-Time Updates: Know your account balance instantly after any transaction 
• No Additional Fees: Banks don’t levy any charges for this facility, making it a pocket-friendly option

In addition to the above features, an mPassbook enables you to complete verification or tax filing whenever required, without any hassles. This is because you get an instant record of your transactions along with your account details which are generally required for completing the process. 

Moreover, having a digital passbook reduces the risk of loss or theft. The instant access also allows you to report any suspicious activity immediately and ensures prompt action is taken.

Also Read: What Is Bank Statement?

Pre-requisites for mPasbook

If you want to enjoy the digital passbook facility, here’s what you need:

• A smartphone with the required software updates for the bank’s app
• You need to register for mobile banking 
• You must link your mobile number to your bank account
• You must have your user ID and password ready if your bank requires it for login

How to Download and Register for mPassbook

Here are the steps you can follow to download and register on your bank’s mobile app

• Step 1: Go to the Google Play Store (for Android) or Apple App Store (for iOS)  
• Step 2: Install your bank’s mobile app 
• Step 3: Launch the app, once installed
• Step 4: Select your preferred language
• Step 5: Enter your registered mobile number
• Step 6: Enter OTP for verification
• Step 7: Enter your customer ID and other required details
• Step 8: Set up your MPIN
• Step 9: Log in with the MPIN 

Now that you know how to download and register for your bank’s app and get a mobile passbook, check your account balance and transaction details regularly. If your balance is low or you need urgent funds to bridge monetary gaps, apply for an Instant Personal Loan.

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FAQs on mPassbook

What is the use of mPassbook?

It is a digital version of a physical passbook. With it, you can check your account balance and track your transactions in just a few minutes, without visiting the bank. 

What is the difference between a passbook and mPassbook?

mPassbook is an electronic version of your physical passbook. It is available on your mobile through the bank’s official app.

Can I get a passbook in one day?

Yes, both physical and electronic passbooks are available in one day. 

Is an online passbook available?

Yes, most banks have apps that allow you to access your passbook online through your mobile.