Punjab National Bank launches WhatsApp banking. Here's how it will work

State-owned Punjab National Bank (PNB) on Monday (October 3) said it has introduced banking services through WhatsApp for both customers and non-customers. Through this service, PNB would be offering non-financial services such as balance inquiry, last five transactions, stop cheque, request cheque book to its account holders.

Will you only be accessing a few services on Whatsapp banking? No. PNB will increase the scope of Whatsapp banking to eventually provide services like:

• Online account opening
• Inquire about bank deposit/loan products
• Digital products
• NRI services
• Locate branchs/ATMs
• Opt-in, opt-out options etc. 

What is WhatsApp banking though? Whatsapp banking basically helps you receive banking updates on WhatsApp instead of getting them as SMS. It helps you chat with your bank and get faster answers to your queries. Much faster than logging into your bank's website and looking for what you want.

What kind of services can you access? WhatsApp banking helps you get details regarding your banking cards (like reward points or outstanding balance) and fixed deposits. You can also put forward requests for a mini statement and pre-approved loans using WhatsApp.

How do you opt for WhatsApp banking? To activate WhatsApp banking, you need to save PNB's official WhatsApp number 919264092640, and initiate a WhatsApp conversation by sending a hi/hello.

But just ensure this before you begin conversing: PNB's genuine WhatsApp banking account will have a 'green tick' along its profile name. 

Do other banks also have WhatsApp banking? Yes. Most banks like SBI, HDFC Bank, ICICI Bank, Bank of Baroda (BoB), Bank of Maharashtra, Axis Bank, Kotak Mahindra, and Yes Bank provide WhatsApp banking services in India. Each bank has its own official number for its customers to reach out to but have more or less similar procedures and provide similar services to customers.