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Saturday, April 11, 2015

8 Safety Tips for ICICI Bank eftCheques APP


          ICICI Bank has introduced an App for Safe eBanking on April 6, 2015. This APP is available on Android PlayStore. Click here to download the APP.

          ICICI Bank has published comprehensive guidelines for comfortable usage by the banking enthusiasts.

          Overview of the eftCheque Tool:-
01) eftCheques  can be described as a virtual cheque/token of specific amount which has a embedded unique id. This is created by ICICI Bank in favour of a beneficiary on the specific request of the User. This is through ‘Write a Cheque’, available on the EFTCheque Application.
02)                  The eftCheque can be issued to a ICICI Bank account holder or non-ICICI Bank account holder.
03)                  The mode of transfer for ICICI Bank accounts is direct fund transfer and RBI’s NEFT in case of non-ICICI Bank account.

Main characteristics of the eftCheque Tool:-

Option 1:- Write a Cheque/Pay a Cheque---
This is a financial service through which User can transfer money to a Beneficiary without knowing beneficiary account details.
Through this Service, User can place a request in format of a cheque for transfer of fund to Beneficiary and this cheque can be accepted by Beneficiary to get the funds credited to his/her account during the validity period of the request by providing his account details and the passcode received by (“Encashment of eftCheques”).

Option 2:- Deposit a Cheque---
Through ‘Deposit a Cheque’ option, User shall be able to scan and send the cheque image to ICICI Bank

The following are Safety Tips for tension free navigation of the eftCheques APP:-

01) Download the APP from Playstore.
02)                  Complete the registration process.
03)                  Decide Write a Cheque/Pay a Cheque or Deposit a Cheque.
04)                  Collect the beneficiary details.
05)                  eftCheque is valid for 3 days from the days of the issuance. Hence, advise the beneficiary to complete the process within 3 days.
06)                  Deposit a cheque is complete only when the physical cheque is deposited in an ICICI Bank branch within the specified TAT.
07)                  Be familiar with the transaction charges.
08)                  If sufficient balance is  not maintained before initiation of the transactions, penal charges might be levied by the Bank




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