Initiative will save customers many visits to branches
Now, you can use a mobile application to choose the nearest location where you can open a bank locker.
Axis Bank, the country’s third-largest private sector lender, has launched a new mobile application that will allow its customers to book lockers, saving them many visits to bank branches.
The bank initiated the process of booking lockers through mobile phones to offer customers convenience and transparency in transactions.
“Customers face a lot of inconvenience while looking for a locker facility…We have heard of cases where banks have asked customers to open fixed deposits or other accounts with the bank to use the locker facility. So, by booking online, such instances of bothering the customers will not exist,” said Rajiv Anand, Group Executive and Head (Retail Banking), Axis Bank.
With this customers can figure out the availability of the locker from their homes or on-the-go. On booking the locker, the documents and KYC (know-your-customer) formalities can be done with the closest Axis Bank branch and the customer can claim the locker within seven days.
The charges for the lockers will be in the range of ₹3,000-12,000 in metro/urban areas and ₹1,500-10,000 in rural areas depending on location and size of the locker.
If lockers are not available at the customer’s preferred location, he/she will be issued a wait-list number and will be notified as and when the bank adds more lockers or any existing locker is surrendered by another customer.
Currently, the overall pan-India locker occupancy is about 72 per cent. Anand said, “Lockers are one of our most popular products and we want it to be available to our customers very easily and make it simple to access.”
In addition, he said, mobile banking is growing with transactions of about ₹2,000 crore monthly and the bank is receiving 70,000-80,000 new registrations for mobile banking.