ICICI bank after a announcement couple months back regarding No EFT transfer has now started a new feature in their online banking system by the name of Request Funds facility which is visible under the Account Summary option when you login to your online ICICI banking accounts.
This facility allows you to request for money transfer into your ICICI Bank account from a non ICICI Bank Account with the following options.
Registration : Add a payer bank account from where you want to transfer money into your ICICI Bank account. This is a one-time registration.
Please complete one-time registration of payer bank (non ICICI Bank) account from where you want to transfer money into your beneficiary (ICICI Bank) account.
All the interbank transfers are executed using Reserve Bank Of India’s, ECS system
List of Branches will be displayed to you on the next page. Kindly note that registration will be completed only after selection of Branch and MICR Code.
Request a Transfer : Request money transfer from a registered payer account to your ICICI Bank account. You need to have a Debit / ATM Card to use this facility. If you don’t have one, please apply using the link “Service Request” on left hand-side of this page.
Check Status : Check Status of your Payer Account registrations and Transfer Requests.You can check the status of your Debit mandate registration(s), past and pending transfer requests by clicking the relevant option below .Your registration status will be available after 1 working day from the time of your registration.
Deregister : Deregister an existing registration.
Debit Mandate : View and Print Debit Mandate. You can view and print Debit Mandate of Payer registration made during last 30 days from today. List of Payer registration made during last 30 days from today.
This facility would help out many people who are looking for some payments from the other party where in they can request the funds now similar to paypal services.