Passbook like other conventional passbooks is a paper book that is used to keep a record of transactions on a deposit account such as savings and current accounts. Individuals that open an account with a bank receive it as a part of the bank’s welcome kit.
Components of a Passbook
PNB passbook when first handed over to a customer is blank. However, the first page of the passbook contains the customer’s KYC and bank account details, which are given as below:
- Account holder’s name
- Account holder’s address
- Account holder’s contact number
- Account holder’s account number with the bank
- Account holder’s customer ID
- Account holder’s scheme ID (if the account is opened via a government scheme)
- Bank’s name
- Bank’s branch address
- Bank’s IFSC
- Date of opening the account
- Account nominee details (if any)
All pages following the first page are blank. These blank pages are where your transaction details will get printed. These pages are usually segmented into sections given as follows:
- Date (date when the transaction took place)
- Particulars (particulars of transaction
- such as transaction ID and name of an entity)
- Debit (Money withdrawn from the account)
- Credit (Money deposited in the account)
- Balance (Final Balance on the transaction date)
Uses of a Passbook
Passbook may seem unimportant to many, however, this booklet is important due to various reasons. Some of these reasons are listed as follows:
- To keep a record of account statements
You can call passbook as a record book of your account transactions as the history of your account transactions printed on your passbook is going to stay there forever. Whenever you need to check account transactions, you can refer to this record book for details. The information that you can refer to through this booklet is the date of transaction, amount credited and debited, particulars of transaction and balance.
- To track and monitor account transactions
Since passbook contains the record of your account transactions, you can use it to track and monitor your bank account’s cash flow. Tracking and monitoring your money will help you manage your money especially if you have several accounts. Your transaction history will help you know your savings and expenses which will further help in planning and strategizing ways to reach your financial goals.
- To present as a proof of the transactions
Passbook is a booklet that records all your financial transactions for a particular bank account, and it can be shared with anyone that requires a proof of it. For instance, it can be handy when the HR of an organization asks for either your payslips or a copy of account transaction that proves that salary from your previous organization was credited in your account.
How to update a passbook?
Before 20th century, passbooks were updated by a bank teller or a postmaster. They would write the transaction entries with their initials. Once inkjet printers or small dot matrix were introduced, updating passbooks become easier. Account holders could get their passbooks updated as per their convenience. Even today, account holders can update their passbooks at their leisure by visiting a branch and requesting bank representatives to update it. They can even take mini statements from ATM but cannot keep it as a record as the ink of the printed mini statement vanishes with time. If account holders want to update their passbooks themselves, they can do so by using a passbook updating machine. However, not all banks provide this machine for updating passbook. One of the banks that offer this facility to their customers is PNB (Punjab National Bank). PNB PUM (Passbook Updation Machine) is available at branches and self-service terminal at e-lobbies. PUM was introduced by PNB with an aim to offer convenience to their customers. There are various benefits that the machine has to offer, some of which are listed as follows:
- Customers will not have to stand in long queues to get their passbooks updated.
- Account holders can update passbook at their convenience.
- The passbook updating service is available even during after-office hours.
- The machine can update the passbook of saving fund accounts in a jiffy.
- To use this service, there are no charges involved.
If you’re always on the move and don’t have time to update your passbook every now and then then mPassbook is a great option for you. PNB is one of the banks that offer mPassbook facility to its customers. Read further to learn what is mPassbook and what more PNB mPassbook has to offer to its customers.
PNB mPassbook is similar to a regular passbook but it is a digital version that can be viewed on a customer’s mobile phone. It is a mobile application that customers can download on their smartphones and track their account transactions.
The concept of mPassbook was initiated with an aim to offer convenience to customers. In addition, there are various other benefits that mPassbook offers to its customers. Some of them are given as below:
- Time Saving
Earlier, customers had to visit bank and stand in long queues to get their passbook updated. On some unlucky days, either the servers were down or the printing machines were faulty. However, with mPassbook, customers can retrieve information on the latest transaction on their mobile phones anytime. They don’t have to waste their time by visiting branch.
People who are old or don’t have time to visit PNB branch to get their passbook printed can opt for PNB mPassbook. This mobile application provides ease and convenience to customers for getting information on latest bank transactions whenever and from wherever they want. To do so, customers don’t need to visit bank and get their passbook update.
- Options to Save and Download Details
mPassbook also saves people from the trouble of scanning their passbooks to save or send a copy of their transactions online. The mobile application offers options to customers to save or download mini and detailed statements of their account with ease.
- Display of Multiple Account Types
Traditional passbook contains transaction information only for one account. mPassbook saves customers from carrying multiple passbooks if they have multiple accounts with a bank. Customers can download the mobile app to view transaction information of all their accounts with PNB at a single place.
Features of PNB mPassbook
Some of the key features of PNB mPassbook are given as below:
- Customer ID based Registration
To view multiple accounts at a glance, PNB mPassbook offers the facility of customer ID based registration to its customers.
- MPIN based Login
To save customers from the trouble of memorising and remembering usernames and passwords, PNB mPassbook allows them to login using their MPIN.
- Mini and Detailed Account Statements
On PNB mPassboook app, customers can view both mini statement and detailed statement of their account(s).
- Download and Save Statements
With PNB mPassbook, customers no longer need to Photostat or scan their traditional passbooks as the app provides them options to save and download detailed statements in their mobile devices.
- Direct Email
PNB mPassbook mobile app also offers customers an option to directly email their accounts detailed statements to their registered email account.
- Statement for Different Accounts Types
Savings, recurring, overdraft and current are the types of account that customers can view on their PNB mPassbook app. It is an easy and convenient way to view account information whenever and wherever required.
PNB mPassbook Requirements
To use PNB mPassbook, there are a few requirements that must be met. Those requirements are given as follows:
- Individuals who want to use PNB mPassbook must be retail customers of PNB with registered mobile number.
- Customers with Android mobile devices can download this app only if their device’s operating system is of version 5.1 or above.
PNB mPassbook FAQs
- What is mPassbook?
mPassBook is a mobile passbook, which is accessible through a mobile application that allows customers to view their accounts mini and detailed statements easily and conveniently on their smartphones.
- Who can use PNB mPassbook?
All retail customers of PNB can use mPassbook on their smartphones provided they have their mobile number registered with the bank.
- What are the charges for using PNB mPassbook?
There are no charges involved for using PNB mPassbook. The mobile app is free to use but your mobile network provider may charge you for internet use.
- What are the things required to register for PNB mPassbook?
The things that customers may require for registering themselves for mPassbook are given as below:
- Smartphone with Android OS version 5.1 or above.
- Internet connection.
- Mobile number registered with the bank.
- Nine digit customer ID.
- From where customers can get their customer IDs?
Customer ID is a unique identification number that is assigned to every account holder from their banks. Customers can get customer ID from their traditional passbook as well as bank’s internet banking portal provided they use internet banking services. For further assistance, customers may visit the nearest branch or call the bank’s customer care representatives.
- Which mobile number should customers choose if they happen to have dual SIM in their smartphones?
If customers have dual SIM in their smartphones, then they must choose mobile number that is registered with the bank for registration on mPassbook Mobile App.
- Which type of account can customers view using PNB mPassbook mobile app?
Customers can view savings, overdraft, current and recurring accounts using PNB mPassBook app.
- Can customers do financial transactions such as fund transfer and bill payment using PNB mPassbook mobile app?
No. customers cannot make financial transactions such as fund transfer and bill payment using PNB mPassbook mobile app as the mobile app can only be used for viewing account statements.
- Where should customers contact if they have a query regarding PNB mPassbook?
If customers have a query regarding PNB mPassbook, they may email their concerns or queries to email@example.com.