How to Reset/Generate forgotten Transaction Password in Canara Bank

Canara Bank has the facility to set up transaction passwords. Users can transact online using a transaction password, if the transaction password is not known user needs to reset transaction password. 

There are two ways to reset the Canara bank transaction password. The first method is by sending a request to the bank through SMS and the second method is by visiting the nearest Canara bank branch.

What is a transaction password?

A transaction password is a specific type of password used when transferring money between accounts. This means that if you want to move funds from your checking account to your online savings account, you will need to enter a transaction password. 

Where we need Transaction Password

1. While Adding or Removing Beneficiary from your account

2. Changing Net banking Login Password

3. Updating Profile Details such as Address update, Nominee and more.

4. When buying air tickets, participating in a food f¹air, or some kind of competition.:;

Things needed While resetting transaction password

  • Registered Mobile Number to receive SMS (make sure you have a subscription on Mobile number.  Ways to Chang Mobile Number
  • Debit Card Details such as Card number, Exp Date.
  • Net Banking User ID and Password.

Steps to reset transaction password using net banking. 

The transaction password reset can be done by following a small process. The procedure is givens5 below to reset the transaction password:

Step 1: visit your Canara Bank online banking using your phone or laptop.

Useful Post :  How to Install & Use Canara bank mPassbook

Step 2: Login by entering your User ID and password.

Step 3: Once you’ve logged in to your dashboard, go to the top right corner and click on Settings Icon.

Step 4: Select create transaction password.

Step 5: Type in the new transaction password, Click Continue.

Step 6: On the following screen, enter your ATM card information, validate it, and click submit.

Step 7: Enter the OTP obtained on your registered cellphone number and press the submit button.

Step 8: A successful message is now shown on the screen.

Conclusion

I was creating this article to help anyone from my friends and family who face problems at the time of transaction password reset. I hope that whatever is written in this article will solve your problem. If you are from Canara bank, please read the full article because some information might change.

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