Karur Vysya Bank joins IMPS with soft launch

Karur Vysya Bank joins IMPS with soft launch

Another South Indian Bank, Karur Vysya Bank joined IMPS with a soft launch on 30/03/2011

The public launch is expected by May 2011 end.

Let us wait and see the roll-out publicity campaign for the IMPS launch by Karur Vysya Bank.

What sets apart KVB’s website from other banks website, is the FAQ section.

This section is an eye-opener on the various facets of KVB and viewer can choose to click on the subject of his interest for the FAQ’s to popup.

A sample FAQ is the ‘FAQ’s for Shareholders’, which can be @

http://www.kvb.co.in/global/share_holders_faq.html

The FAQ in brief explains about the promoters of the Bank and highlights the basic information required for shareholders.

Preserve your Charge Slips-Do not destroy them immediately

Preserve your Charge Slips-Do not destroy them immediately

The Indian Banking retail customers are swiftly migrating from cash to credit/debit cards payments via the online mode/mobile mode/POS mode.

Charge Slips are the connecting node between the Payment and the Bank Account in case of POS mode.

Charge slip refers to the voucher printed after swiping and charging a debit or credit card.

With multiple Debit/Credit cards, becoming common ‘Charge Slips’ play an important role in reconciliation of the multiple Debit/Credit Cards

Majority of the POS Paper rolls are thermal based. As such, the Data printed on the POS Paper Rolls fades over a period of time. Hence, in case permanent record of the POS Slip is required, scanning is the best option.

However, it is wise to preserve the Charge Slips, till at least the Credit Card Statement or the Bank Account Statement is received. 

Once the Statement is reconciled and you are satisfied that all the Debits are genuine debits, the charge slips can be destroyed.

Tips for Storage and Image Stability

1.     Keep Dry

2.     Avoid Plastics/Solvents

3.     Avoid Sunlight

4.     Avoid Hot/Humid temperature

5.     Avoid Diaso Papers

6.     Do not Iron/Deface

SBIN00CARDS - Pay your SBI Card bill through NEFT

SBIN00CARDS - Pay your SBI Card bill through NEFT

A long outstanding demand of SBI card holders has been met by the SBI Cards Ltd.

SBI Credit Cards dues can be paid via the NEFT mode.

The IFSC code for SBI credit card remittances is SBIN00CARDS

This option has gone live from 26^th april2011 and I am sure, SBI cards have received substantial payments through the NEFT option.

To popularize this mode, SBI Cards should offer 1%cash back or reward points.

Compared to the costs of other Bill payment modes, NEFT is considerably cheaper. Moreover, the payment received is ‘final’ and there is no question of ‘cheque bounce’.

Hence, the savings have to be shared with the credit card holders too.

It has been more than 2 years, since RBI has introduced separate Transaction Code (No. 52) in NEFT for credit card transactions. In the last couple of years, many Banks have introduced the NEFT option for remitting credit card dues.

However, SBI Cards has introduced just now.

Hm, ‘Better Late than Never’.  

RTGS/NEFT working on 14/04/2011

RTGS/NEFT Open on 14/04/2011

RTGS is functioning on 14/04/2011

NEFT is functioning on 14/04/2011

Well last year, Reserve Bank of India, declared a sudden holiday for 14/04/2010. Please refer my earlier post @ http://goo.gl/s1sJ6

This year, the mood seems to be different. As 14/04/2011, was not initially declared a Holiday under the RTGS Holidays 2011, RTGS/NEFT will be kept open.

It will be an interesting experience. All the Bank Branches across India are closed. So, tomorrow the transactions will be driven by Alternate Channels i.e Internet Banking, Mobile Banking, ATM channel.

The mood of Indian Banking customers towards Alternate Banking Channels can be judged.  Yes, lots of eyes will be on RTGS/NEFT on 14/04/2011.

Trust the Indian Banking Customers will opt in large numbers for Alternate Channels.

I understand the sentiments of folks @ the RTGS/NEFT Centralised Operations Units in Banks across the country.

Cheers to the unknown heroes.

RTGS/NEFT working on 12/04/2011

This page expires on 13/04/2011