BOI TRF Message, TRF Full Form in Bank of India: Bank of India (BOI) is a renowned commercial bank that operates under state ownership and is primarily based in Mumbai. It boasts an extensive network of 5092 branches, spanning every state in India, and has established its presence in 22 foreign countries as well. As a comprehensive financial institution, BOI offers a wide range of banking solutions and financial services to cater to both corporate and retail customers. In addition to its core services, the bank is also involved in foreign exchange transactions, mutual funds, and credit card services.
TRF Meaning in Bank of India
To facilitate its operations effectively, the Bank of India operates under three main business divisions: treasury, wholesale banking, and retail banking. Furthermore, it has dedicated branches specializing in serving small-scale industries, demonstrating its commitment to supporting and nurturing local businesses.
Now, let’s delve into the question that often perplexes many individuals when they encounter it in messages or notifications: What does “TRF” mean in a BOI account? The abbreviation “TRF” stands for “transfer,” indicating any movement of funds between two BOI accounts.
Whether it’s for internet charges, SMS charges, or any other purpose, whenever funds are transferred from one BOI account to another, this transaction is represented by the “TRF” notation. You may come across this term as a message on your phone or notice it as an entry in your bank account statement, signifying the occurrence of a funds transfer related to your account.
Steps to Check TRF meaning In Bank of India
When you initiate a money transfer to a non-Bank of India (BOI) account, the Bank of India does not send the TRF message to your registered mobile number. However, if you transfer funds from your BOI account to another Bank of India account, you will receive a message in your message box indicating the transaction. This means that the BOI TRF message is specifically sent when you transfer money into a BOI account from another Bank of India account.
It’s important to note that the TRF message encompasses more than just transaction notifications. The term “TRF” stands for “Transfer,” and it applies to various types of transfers such as fund transfers, EMI payments, insurance payments, repayments, internet recharges, SMS charges, and more.
The Bank of India provides this service of sending TRF messages to its customers free of charge. Additionally, the bank utilizes the TRF message to inform its users about their current bank balance, ensuring they stay updated with their financial information.