“Mobile ATM Branchless Banking” is an online based product. It is a business correspondent (BCs) based banking to reach the people through mobile and web in unbanked areas of the country. Agents provide a range of banking services including cash deposit, cash withdrawal, balance inquiry, generation of mini bank statement, the collection of the document in relation to account opening, KYC and remittance payment.
The bank is extending the services through more than 480 BCs.
Eligibility: All literate people either new or existing saving bank account holders having the mobile phone (NTC or NCell) can register for the services with BC.
Procedures of Account Opening and Registration
- Fill up the account opening/ KYC form.
- Existing customer needs to fill up the form with their account no. and get registered in Branchless Banking.
- BCs will process for the registration/opening the account.
- Customer will receive SMS with Account Number, Balance and Mobile ATM Pin
Depositing Cash through BCs
- Submit cash to the nearby BCs with account details.
- BCs will make necessary entries.
- Provides a system generated receipt as a proof of deposit to the customer.
- The customer will also receive SMS for deposited cash.
Withdrawal through BCs:
- The account holder sends SMS through registered Mobile. “Self<space>amount<space>pin number” and send SMS to 32244.
- Immediately the account holder receives Random Identification (RI) Number.
- Present the number to the nearby BCs with Identity Card.
- Once the agent executes the payment in the online system the customers’receive SMS from the bank’s server.
- The customer will get alert on their mobile after the successful transaction.
- Until payment against existing RI number is made the second request is not be allowed. The timeout period for RI number is one hour.
Cancellation of Withdrawal: Request through Mobile ATM:
- Type “cancel<space>RI Number<space>pin number” and send SMS to 32244.
- Immediately the customer will receive cancellation confirmation SMS.
Changing the PIN number
- Text the SMS :
“pin<space>current pin no.<space>new pin no.” and send SMS to 32244.
- Immediately customer will receive SMS confirming the change of PIN.
- Type “stmt<space>pin no.” and send SMS to 32244.
- Immediately the customer will receive SMS with details of recent transactions.
- Type “bal<space>pin no.” and send SMS to 32244.
- Immediately the customer will receive SMS with the latest balance in the account.
Transaction limit for the service:
- Per Transaction Withdrawal Limit: Rs. 25,000/-
- Per day Withdrawal Limit: Rs. 1,00,000/- (with 10 Txn)
- Per Transaction Deposit Limit: Rs. 400,000.00/- max. per transaction (not exceeding Rs. 10.00 lacs from any of our Business correspondent to the same single account)
Charges and incentives to customers:
- No charge for deposit.
- Withdrawal for web-based BLB
- Upto Rs. 5,000 – Rs. 5
- Above Rs. 5,000.00 – Re. 1 per additional Rs. 1,000 or fraction of amount.