- Are you looking for superior digital transactions- real time, risk free and well tracked for your business?
- Are you looking for a superior level of customisation backed by ' best in class technology platform for your banking ?
Founded in 1994, the Vadodara headquarters ICICI bank, is one of India's leading private sector player with a strong domestic and international presence through
its network of 5,275 branches and 15,589 ATMs across India and footprints across 17 countries worldwide.
The bank had consolidated asset base of
₹16.8 lakh crore (as on December 31, 2021) and a comprehensive solutions portfolio distributed across its retail and corporate segment.
Let us take a deep dive into ICICI's corporate net banking offerings which can be availed 'everytime,everywhere, with ease in a safe and secured manner and with a richer engagement experience by corporate ( big, medium or small) and institutional customers.
The corporate net banking division caters to offers a variety of services including transaction based and non- transaction based services, cashless and paperless, ranging from:
- Consolidated view of accounts, mapped to a single User ID on a single window.
- This includes loans, deposits and linked accounts like channel partner, vendor and dealer accounts.
- Intra and Inter Bank fund transfer using NEFT and RTGS
- Bulk payments
- Online tax payment
- Utility bill payments
- Trade services
- Cash management services which includes cheque / DD printing, collections MIS, internet-based cheque writing, etc
- Requests for fixed deposit( FD) opening, cheque book and cheque stop payment and much more.
To starters, you as a corporate customer should have a current account with ICICI Bank.
- Once you register for a corporate net banking account, you will receive a corporate id, user id and sign-on password.
- With these details, you can then login to the bank's web portal, www.icicibank.com and navigate to the Corporate Internet Banking (CIB) section.
- Always remember to change your password, preferably once in three months, cryptic password.
For corporate customers, the fund transfer via net banking can be availed in multiple ways with layered authentication tools
(Firewalls and data encryption systems
Login ID and Password, OTP and grid values) and nuanced channels to transfer funds, be it from your own account or beneficiary account or multiple beneficiaries or your channel partners.
Say for example: Let us say you want to transfer funds to multiple beneficiaries, instead of repeating the process again and again, you can use the nuanced tool, “Bulk File Upload” to transfer funds to.multiple beneficiaries in a breeze.
In situations where you need to make regular payments to say your employees ( salary) or to your channel partners ( vendors), you can just have to use the nuanced tool ' Bulk File Upload Facility' by creating a simple text file as per the bank's format which is available on the website.
In addition, you can also avail the regular one-on-one fund transfer from ICICI Bank accounts to other bank accounts, tax payment and bill payment and much more.
Another nuanced tool of a corporate net banking account is that the user can customise the limits pertaining to the amount or the transaction or a combination of both.
In addition, as a customises channel partner offering, you can avail mandate from your channel partners to debit their account in favour of your company. This allows you to aggregate funda in your ICICI Bank current account with debiting channel partners’ account.
At this juncture, it is important to note that all fund transfers either to own account or beneficiary's account of other banks can be made through various modes such as:
- IMPS channel which is available 24×7
- NEFT and RTGS; both are available from Monday to Saturday (Except 2nd and 4th Saturday, Sundays and all bank holidays).
- While NEFT transfer timings are from 8 am to 6.30 pm; RTGS is from 8.15 am to 4.15 pm.
Irrespective of the fund transfer channel, as a corporate account user, you would always like to have an audit trail of your transaction to ensure safety.
ICICI corporate net banking fund transfer can be traced online or physically.
- You can directly call corporate care phone banking officers to know the status of your transaction.
- You can also send an email to firstname.lastname@example.org with details of transactions like account number, amount of transactions, beneficiary details, and date of transactions.
- You can also know the status in ICICI corporate net banking website under the “Payment Mode” link.
Frequently Asked Questions (FAQs):
Q. is the maximum threshold limit on the amount of fund transfer through ICICI corporate netbanking?
The default limit is ₹1 crore per transaction for corporates and ₹5 lakh per transaction for constitution codes other than companies.
It is important to note that these threshold default limits can be customised as per the debit accounts by filling in the relevant fields in the form.
Q. In case I encounter a message "oops error or 404 error " while navigating the web portal, what should I do?
In such a scenario, just take a screenshot of the latest error message & the time, date stamp of the error occurrence and email to the corporate help desk through your registered e-mail ID to email@example.com
Q. Is this corporate net banking facility available for international fund transfers?
No. This service is exclusively for fund transfers within India.
Q. How do I reverse the payment made erroneously to another account (ICICI Bank/ Non-ICICI Bank)?
In such a case, submit a letter on your Company's letterhead, signed by the authorised signatories, mentioning all the details of the transactions, at your ICICI Bank branch.
Q. What is to be done when the customer gets the message "Access denied"?
In such a scenario, recheck the authenticity of your login or/and password details.
You can try to reset your password by following a series of simple instructions online. Alternatively, if your account is still.locked, you could reach out to the help desk or physically visit the branch.
Q. What is the process for linking Own-to-Own accounts?
The process of linking Own-to-Own accounts is as follows: Submit a letter on your Company's letter head, signed by the authorised signatories at your nearest ICICI Bank branch.
The letter should mention:
- Corporate ID
- User ID
- Account(s) to be linked
- Work flow if any (Singly or Jointly)
- Note: Both the accounts should have the same account holder's name.