What is URN based Payee Registration Process?
1. What is Corporate Internet Banking (CIB)?
Corporate Internet Banking (CIB) is ICICI Bank’s powerful online banking channel that helps our institutional customers manage their complex banking from their desktops. ICICI Bank has been adjudged the ”Best Corporate /Institutional Internet Bank in India” by Global Finance magazine for the three consecutive years 2004, 2005, 2006.
CIB offers customers some key facilities:
Single window view of all ICICI bank accounts mapped to a single user id, including loan, deposit and external accounts (channel partner i.e vendor/dealer accounts)
Intra-account and Inter-Bank fund transfer using EFT/NEFT/RTGS
Utility Bill payments
Trade Services and Cash Management Services
Requests for FD opening, Cheque book and Stop Payment
Key Benefits & Advantages:
24*7 Banking Hours
Real time access to all your Account Information
Customisation & Security: You can preset the information access, multi-level approval process and transaction authority for various employees for complete security.
MIS Integration: You can download your account details as an excel or text file.
Audit Trails: You can track all logins and transactions by date/user id to monitor any misuse of access.
2.How do I access CIB?
To access CIB you need to register as user. (See how to get started). On registration, you will be sent corporate ID, user ID and password. Once you have received your CIB account details, visit www.icicibank.com and then login to CIB.
3.What are the various modes of fund transfer available in CIB?
Corporate Internet Banking offers real time fund transfers. You can either do a one-to-one fund transfer or a bulk transfer.
In one-to-one fund transfer the accounts are linked and you have to select the debit and credit account, enter the amount and narration for fund transfer and affect the same.
For bulk transfers you need to upload a text file containing the payment/collection instruction. The format of the text file can be pre-defined and the main contents of the file are account no., amount, currency code and narration for the payment/collection. This is useful for effecting multiple payments/collections at a single click.
Bill payments: You can pay all the utility bills of your various offices online. Alternatively, in case you want your customers/dealers to pay you online, you can be hosted as a biller on CIB. The payments made by the customers/dealers to you would be credited to you instantaneously and a daily-customized MIS of receipts would be emailed to you.
Tax Payment: You can now login to CIB and pay your direct/indirect and services taxes at a click of the mouse instead of having to wait for hours in a queue to pay the same manually.
Payment to Director General of Foreign Trade (DGFT) for advance against import license fees can made online through CIB.
4.Is there any limit on the amounts of funds that can be transferred through CIB?
Yes. You can specify and set the user level limit and the transaction level limit. A fund transfer cap can be specified for each of the debit accounts in terms of amount and you can also specify a limit on the amount of fund transfer that can be effected by your authorised users. This is similar to Cheque signing powers in the physical world.
5.How many approvers can approve a fund transfer?
The system supports multi-level approvals. You can specify the number of approvals needed for effecting a transaction. The transaction will not take place unless the required number of authorised signatories has approved it.
6.What are the charges for transactions executed through CIB?
Please contact your relationship manager for the details.
7.Can I effect fund transfers through CIB to other Banks?
Yes. You can effect fund transfers to accounts at non-ICICI Bank. The inter bank fund transfers are routed through the RBI-EFT/NEFT and RTGS mechanism .The credit is effected normally for EFT/NEFT by the third working day and for RTGS in 2 hours.
8.Can I use the account for effecting International? Fund transfers?
No. You can only effect fund transfers within India.
9.What are the security features of Corporate Internet Banking? Is it safe?
We understand your concerns about the security and it is of utmost importance to us. Firewalls, data encryption, digital certification are used so that no other person should be able to access your account. Additional features such as digital signatures, etc can also be set up on your request. Other features include a separate login ID and password that only you will know, and even the Bank employees will not have access to your password.
There will be no memory caches allowed on the browser so that after you logout nobody would be able to access your account by pressing the “Back” button on the browse. If the screen is not used for 7 minutes, it automatically logs you out from CIB.
10.Do I have any cost benefit?
You don’t have to spend anything extra to avail this facility. All it requires is Internet connectivity. CIB enables your company to pro-actively manage cash flows, ease reconciliation efforts, as all the MIS is available at the click of the mouse.
11.Can you integrate CIB with our ERP?
Yes. We can help you in integrating the account statements and bulk payment files with your ERP system. We may charge a nominal fee depending upon the nature of work involved.
12.What is it that my supply chain partners and I have to do?
Presently in India, there is no real time online electronic connectivity between the various Banks. This puts in a small constraint in terms of the banking relationship to the constituents of the supply chain. Hence, it becomes important that the supplier, you and the dealer have accounts at ICICI Bank. Only then the efficiency of the system can be used to the fullest.
13.Can I offer any banking facilities to my channel partners?
The dealer can credit the proceeds to the company's account from his login. In case the dealer finds it difficult to do this, he can give a mandate to the company for debiting his account. Similarly, you can also credit your Vendors.
14.What are the documentation formalities for Channel Financing?
As India does not have a proper legal framework regarding transactions through the Internet, CIB operates under the purview of the Indian Contract Act. This is to safeguard both, the company and the Bank. The channel partners will have to accept the offer from ICICI Bank and accept the terms and conditions of CIB. To read the CIB terms and conditions click here. If overdraft facility is given to the dealer, the dealer can either operate the account on his own or can give a Power of Attorney or Letter of Mandate to the company for operating the Overdraft account. In the latter situation the dealer will have to also give a Mandate Letter/Indemnity to the Bank for linking the Overdraft a/c with that of the Company's account.
For your convenience we have hosted all the relevant documentation and the forms on our form center
15.Where can I get more information about Corporate Internet Banking?
You may contact firstname.lastname@example.org for further information and clarifications. You can also view the CIB Online Demo link available at the Corporate Internet Banking Login page.
16.How do I get started?
To avail the facility you need to submit the duly filled CIB application form.
This form is also available at all the ICICI Bank branches. You may also contact email@example.com for the application form. The duly filled application form can b submitted at your base branch or to your solution manager.
The application form can be directly mailed to : ICICI Bank Ltd., General Banking Operations COPS , 3 B, Third Floor, Chandivli Farm Road, Near Chandivli Studio, Andheri (East), Mumbai 400 072.
17.Do I need to submit any Board resolution?
Board resolution is needed only if you need to effect transactions through CIB i.e. you wish to avail of the transaction facility. Click here to view a format of the Board resolution.
18.Whom should I contact for any queries after I have submitted the forms or for any operational issue on the CIB platform?
You can contact firstname.lastname@example.org
19.How can I get a new set of passwords if I have forgotten my passwords?
If you have forgotten your password and want a new set of passwords, please follow below mentioned options:
a) Place a request at Corporate care
Send an email request to email@example.com, mentioning your Corporate ID, User id and Account Number. The passwords would be couriered to your registered address. An administrative fee of Rs.50/- plus service tax will be charged for the generation of fresh password.
b) Place a Online request for resetting of passwords
Place a online request for generation of fresh set of password from the link “Online Request for Password Resetting” at the home page of Corporate Internet Banking (CIB). Passwords will
be sent at your registered email address on a secure URL. No administrative fee will be
charged for online generation of passwords. To know how to place online request for passwords click here
20.What are the steps involved in one to one NEFT/RTGS Payee Registration for URN confirmation ?
Transfer Funds to any of the specified Non-ICICI Bank accounts with specified Banks (NEFT/RTGS):
a) Click on 'Transfers'
b) Then click on “NEFT” or RTGS as per your transfer preference
c) one-time registration for each beneficiary will have to be carried out. To do so, please click on 'Register a Payee'
d) For registration, please provide the following details:
Beneficiary Name: This field is mandatory and is used to enter the beneficiary name. This can hold maximum of 30 characters.
Beneficiary Account No: This is a text field and is mandatory. The beneficiary account number should be entered here. This field can hold maximum of 15 characters.
Beneficiary Account Type: This field is a drop-down box which will prompt you to select the type of beneficiary account. Options on offer will be Savings Bank, Current Account, Cash Credit or Loan Account.
Beneficiary City: The beneficiary city name can be selected by navigating through the dropdown box.
Beneficiary Bank: The beneficiary bank name can be selected by typing the abbreviated name or dropdown box.
Beneficiary Branch: On giving all the details given above, you will be shown all the list of all the branches of the selected bank at the selected location.
e) Your Payee Registration Request gets accepted and remains in 'Pending Confirmation' status. You can transfer funds to the payee after you have 'confirmed' the Payee. Please note that you need to confirm the Payee registration within 1 day from the date of registration failing which your Payee Registration will be cancelled.
f)To confirm a Payee please follow the steps mentioned below:
Payee alert from ICICI Bank by SMS/ e-mail Check for URN* in payee alert message Login to icicibank.com Enter URN in “Confirm Payee Section” Payee Registration confirmed instantly Transfer funds to Registered payee
*URN – Unique Registration Number
If you don't receive the URN & you have registered for Mobile Banking, please make a request by sending CURN < space> < payee nickname> as an SMS to 5676766.
1. For URN authentication, your mobile number/ e-mail address need to be updated on Corporate Internet Banking
2. For updation of mobile number/ e-mail address, please submit a signed request at nearest branch mentioning your Corporate ID, User ID, Account number/ Customer ID or send the scanned letter to firstname.lastname@example.org
g) Once you register a beneficiary or if you wish to transfer money to registered beneficiary, you can select the payee to whom you want to transfer the money.
h) After filling the details and clicking on pay, you will be prompted to enter the transaction password. On entering the correct transaction password, you will be asked to enter any 3 digits selected at random from the 16 digit number of the ATM/Debit card/ Business Banking Inquiry Card linked to the Debit Account. To complete the transaction, you will need to enter all the 3 numbers correctly.
New mode of authentication for online Funds Transfer transactions
In case, if you have been issued a ATM/Debit card/ Business Banking Inquiry Card with a grid (16 cells with alphabets from A to P and numbers printed on them ) table on the reverse of the card, then you will be required to enter 3 values from among them. These values which have been randomly selected by the system from the 8 x 2 grid table .
All the 16 cells of the grid table are numbered from A to P and contain numeric values.
For example: You may be asked enter the numeric grid values in cells C, G and K which might be 21, 45 and 96. Your transaction will only be processed only if you correctly enter these values from your grid table .