What does IBB mean in BANKING

Inter Branch Banking (IBB) is a system of banking that allows customers to conduct transactions across multiple branches. It provides convenience by reducing the time and effort needed to go to a different branch for their banking needs.

There are many benefits of using IBB, including flexibility in managing your money, access to convenient banking services, and ease of conducting transactions across multiple branches.

To access IBB services, you will need to open an account with a bank that offers IBB services and then link your other accounts to it. You can then start making transfers between accounts within the same or different banks at any branch or ATM where IBB services are available.

Yes, most banks charge fees for transferring funds through inter-branch networks but these fees tend be much lower than those for making transfers outside of the network or through another bank's network.

Yes, all financial institutions use secure networks to ensure customer data remains safe and all transactions take place over encrypted channels. Additionally, most banks require additional authentication before authorizing transfers, such as passwords and PINs which adds another layer of security when conducting transactions through IBB.