ICICI bank is one of the best private banks in India which offers online funds transfers from one account to another and this feature can help you out in saving tonnes of time, paper works and resources. This feature helps you to move any amounts of funds from one account to another and this feature is not only limited to ICICI Bank to ICICI Bank but to any online banks in India, just the funds accepting bank branch should have EFT[Electronic Funds Transfer] feature activated. Earlier in 2007 RBI announced that the EFT transfer system would be stopped but its not yet stopped and you can still transfer your funds from one account to another easily. One of the recently added feature with ICICI bank is Request Funds Feature where in you can send a money request and get the funds in your account.
Now lets work out on some simple steps in transfering funds from one account to another.
- Logging into ICICI Bank Account : Click on this link to access the secured page. Click on the desired option which is relevant to the type of your account : Savings Account, Current Account etc
- You will be directed to a page from where you can login to your account with the password you would have recieved with the ICICI bank welcome kit. Enter the details and login and you will be redirected to the Account Summary Page
- Once you are logged in you will find a menu on the left hand side from which you need to select the ‘Funds Transfer’ option from which you can transfer eCheques : Now you can transfer funds to any person(Payee) of your choice in India using the ICICI Bank eCheques
- You will be given with 3 options – Transfer funds to your own ICICI Bank Accounts, Transfer funds to any ICICI Bank Account across India & Transfer funds to any of the specified non ICICI Bank Accounts with specified Banks across India, select the option which is relevant to your transaction.
- The next option is to Add Payee using which you need to add the recievers account details and confirm them. Here you need to add the Payee Account Number twice , Account Name and you will be notified instantly via SMS with a confirmation number. The next step would be to going back to the Funds transfer main page and Confirming the payee.
- Once the confirmation is complete in the Confirm Payee page you can send the funds to any bank account instantly or schedule the funds to be transferred for later time.
Notes : Make sure you complete the whole process on a personal computer and not in a public internet cafe because thats a unsecured zone and you have chances to lose all your logins or financial information. Never press the backspace button in your keyboard once you are logged into your account because in that case the account gets session out and you need to relogin and complete the whole process again. Cross check and reconfirm the payee information because the funds once transferred cannot be reverted back or cancelled and the only option would be to contact the branch manager in case of any mistakes.