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 FAQs

  1. What is an smsNcash transaction?
  2. Who is eligible to avail of the smsNcash facility?
  3. How is it different from the existing funds transfer service of ICICI Bank?
  4. What are the prerequisites for using an smsNcash transaction?
  5. What is the detailed process of smsNcash through Internet Banking of ICICIBank.com?
  6. Is this a secure way of transferring funds?
  7. What is the process of cancellation of an smsNcash request?
  8. I have added / updated my mobile number?
  9. What amount can I transfer per transaction?
  10. What is the Transaction Fee charged to me?
  11. How does smsNcash functionality work?
  12. Can withdrawal be done at any ATM's ?

 

 

 

 

 

 

 

 

1. What is an smsNcash transaction?

smsNcash enables you to remit funds from your ICICI Bank account to a person who does not have any Bank account. smsNcash empowers a beneficiary to encash from any specified ICICI Bank ATM without having to swipe any debit card or credit card.

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2. Who is eligible to avail of the smsNcash facility?

The smsNcash facility can be initiated by any ICICI Bank savings account customer (remitter) registered for Mobile Banking. The beneficiary may or may not be a Bank customer.

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3. How is it different from the existing funds transfer service of ICICI Bank?

The smsNcash service is an improvement over the existing funds transfer service, because it enables remitter to remit funds from her ICICI Bank account to a person who does not have any Bank account. smsNcash empowers a beneficiary to encash from any specified ICICI Bank ATM without having to swipe any debit card or credit card.

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4. What are the prerequisites for using an smsNcash transaction?

To avail smsNcash service, you need to be a registered ICICI Bank Mobile Banking customer. You can register for Mobile Banking by logging in to ICICIBank.com and updating your mobile number under the “Mobile Banking” section or by calling our 24-hour Customer Care.

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5. What is the detailed process of smsNcash through Internet Banking of ICICIBank.com?

To remit funds using smsNcash through Internet Banking of ICICIBank.com, you need to follow these steps:

A. Request for smsNcash at ICICIBank.com

  • Log in to ICICIBank.com with your Internet Banking user ID and password.
  • Select “Bank Accounts”.
  • Select “smsNcash ” available at the left of the “Bank Accounts” section.
  • Select the Request for smsNcash Transaction tab for placing your smsNcash request.
  • Enter the following parameters:
    • The beneficiary’s mobile number
    • Your Debit Account Number (Linked Account No. dropdown)
    • The amount to be remitted (in INR)
  • Accept the Terms and Conditions of smsNcash on the screen and click “Pay”.
  • Confirm the data entered by you and enter your transaction password.
  • Carry out Debit Card authentication to finally process the transaction.
  • Your selected account will get debited.

B. sms from ICICI Bank

  • You will receive a unique 4-digit code on your mobile.
  • The beneficiary will also receive a unique 6-digit code on the mobile number that you entered at the time of placing your smsNcash request.

Important: The smsNcash service will be activated three days after your having updated/modified/registered for Mobile Banking.

C. Cash withdrawal from ICICI Bank ATM by Beneficiary

  • ICICI Bank customer to inform the beneficiary the 4-digit code and the amount to be remitted at the specified ICICI Bank ATM.
  • Beneficiary to visit any specified ICICI Bank ATM and enter the following parameters:
    • The beneficiary’s mobile number
    • The 4-digit code (as received by the remitter / ICICI Bank customer)
    • The 6-digit code (as received by the beneficiary)
    • The amount remitted (in INR)
  • Cash will be dispensed on successful authentication of all these four parameters. The entire amount needs to be withdrawn by the beneficiary as a one-time transaction.

If there is any mismatch in the parameters entered by the beneficiary, the smsNcash transaction will be blocked and the amount will be reversed to the remitter’s account.

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6. Is this a secure way of transferring funds?

smsNcash has both product-level as well as process-level security features as follows:

  • You need to log in to ICICIBank.com with your Internet Banking user ID and password for placing an smsNcash request.
  • You will be required to enter your transaction password and debit/grid card number as a second-level authentication.
  • You also need to be registered for ICICI Bank Mobile Banking for receiving the 4-digit code form ICICI Bank.
  • The combination of Internet Banking and Mobile Banking channels (Alternative Channel Confirmation) makes this process completely secure.
  • The maximum transaction limit per beneficiary mobile number per day is only Rs. 10,000.
  • However, the maximum transaction limit on the per day amount that can be remitted by an ICICI Bank customer using the smsNcash facility is Rs. 25,000.

The smsNcash transaction limit is in addition to the total cash withdrawal limit for a customer on the ATM channel. However, this limit will be inclusive of total transaction limit on Internet Banking per day.

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7. What is the process of cancellation of an smsNcash request?

You can cancel only a pending smsNcash request(s). To do so, you need to follow these steps:

  • Log in to ICICIBank.com and select “smsNcash ” under the “Bank Accounts” section.
  • Select “Check Status of smsNcash Request”.
  • Select the pending smsNcash request and select “Cancel Transaction”.
  • Enter your transaction password to confirm the cancellation request.
  • The remittance amount will be credited to your account after successful execution of the “Cancel Transaction” request.

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8. I have added / updated my mobile number?

If you have added/updated your mobile number, this facility will become available to you 3 days after the date of addition/update.

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9. What amount can I transfer per transaction?

The maximum amount that can be transferred through this service is INR 10,000 per transaction and should not exceed INR 25,000 per account in a day. Also, the maximum amount per beneficiary mobile number should not exceed INR 10,000 in a day.

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10. What is the Transaction Fee charged to me?

ICICI Bank will charge INR 10 plus applicable tax per transaction for remittances up to INR 5,000 and INR 20 plus applicable taxes per transaction for remittances above Rs.5,000 towards transaction processing fee. This fee plus service tax will be recovered by debiting your account when you place a request.

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11. How does smsNcash functionality work?

Once the transaction is successfully authenticated, a 4-digit code will be sent to remitter's registered mobile number and a 6-digit code will be sent to the beneficiary's mobile number which is to be provided by remitter at the time of placing of request.

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12. Can withdrawal be done at any ATM's ?

To know the list of ATMs that are enabled for this service Click here

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