Receive Funds - Need Help?

Need help?

A) Steps for availing the service

The Receive Funds facility allows you to request for a credit into your ICICI Bank account from a non ICICI Bank Account (Payer Account) by logging into your ICICI Bank Internet Banking account.

You can use this facility by following these simple steps:

  • Complete a one-time Registration of the Payer A/c from where you want to transfer funds.
  • Print the filled in Debit Mandate and obtain a signature of the Payer Account holder on the same.
  • Submit the signed Mandate along with a cancelled cheque of the Payer A/c to our executive.
  • ICICI Bank will then forward the Mandate to the Payer Bank for authentication.
  • Once authenticated the status will be updated to 'Registration Accepted'. You can check the same in Check status section under "Registration status" You can then Request for Funds from the Payer Account to your ICICI Bank account.

B) Registration

Registration on ICICIBank.com:

  • Beneficiary Account Details:
    • This will show all your linked ICICI Bank accounts.
    • Please select one or more linked account(s) in which you want to receive money from the Payer account.
  • Payer Account Details:
    • Please enter details of the Payer (non-ICICI Bank) account. (Name, Account Number, Bank Name, Branch, Type of Account and MICR code of Payer's Bank Account).The above details will generally be available on the Cheque leaf of the Payer Account.
    • Also the upper limit per Transaction & the registration validity of the Mandate will have to put in.
  • Debit Mandate:
    Debit Mandate is the basis on which you can Request a Transfer from the Payer Account to your ICICI Bank account.
    • Print the Debit Mandate form without any alteration.
    • Obtain the signature of Payer Account Holder on the Printed Debit Mandate form.
    • Submit the signed Debit Mandate along with a cancelled cheque of the Payer Account to our executive. (Please note that the Payer should not sign Cancelled cheque).
    • ICICI Bank will then forward the Mandate to the Payer Bank for authentication.
    • Once authenticated the status will be updated to Registration Accepted. You can check the same in Check status section under Registration status
    • You can then request for Funds from the Payer Account to your ICICI Bank account.

C) Request a Transfer:

  • Select Payer and Beneficiary Account:
    • On clicking 'Request a Transfer' option you will be taken to a page that shows your existing list of 'Accepted' Registrations.
    • Please select the Registered Payer from which you want to transfer funds and click 'Transfer'
    • In the next page please select the "To Account" from the drop down of Accounts registered against that Payer Account.
  • Credit Date:
    • Credit date is the date on which you want to Receive Funds into your ICICI account.The earliest date when you can Receive Funds will be auto-populated
    • You can select a date, which is not earlier that the auto- populated date.

D) Status Table for Registration:

S.N StatusMeaning
1. Debit Mandate process Initiated You have made a request for registration by filling up the online debit mandate form. You will need to take a print out of the same and submit it to our executive.
2. Registration Under Process Within 7 days of your submitting the physical debit mandate to our executive the status will change to "Registration Under process". This signifies that the signed mandate has been received and is being processed.
3. Registration Accepted Registration accepted by the payer Bank. Transfer request can be made online.
4. Mandate Rejected

Mandate is Rejected. Debit Mandates are rejected due to any of the following reasons:

  1. Alteration of Online generated Debit Mandate and printed Debit Mandate.
  2. Discrepancy in the entered detail and cancelled cheque of payer.
  3. Absence of Payer's signature.
  4. Anything missing from Checklist.

The above list is illustrative in nature.

Please delete the rejected mandate (registration) and re-register with the correct details.
5. Mandate Invalidated

Mandate Invalidated due to 3 consecutive failed Credit Requests.

All Transfer Requests scheduled for the future will be cancelled automatically.

E) Status Table for Pending Transfer Request

S.N StatusMeaning
1 Under Process Transfer Request is under Process at this stage it cannot be modified or deleted.
2 Pending Request can be modified till this date.

F) Status Table for Past Transfer Request

S.N StatusMeaning
1 Success Transfer Request was successfully processed
2 Failed Transfer Request had Failed

G) Checklist

  • Mandate should be accompanied with a cancelled cheque belonging to the 3rd Party (non ICICI Bank) debit Account
  • 20 digit Unique Number is printed on the top right hand side of the mandate and also at the top right side of the acknowledgement to be given to the customer. This will be in the format –
    • 8 digits for date – yyyymmdd
    • 12 Digit Unique number
  • Point no. 1 of the Debit Mandate would give details of the ICICI Bank credit Account number(s)
  • Point 3 of the Debit Mandate would give details of the 3rd Party (non ICICI Bank) debit Account. Following details are mandatory and should match with details in cancelled cheque
    • Bank Name
    • Branch Name
    • 9 digit MICR code no.
    • Type of Account (SB/CA/CC/Others)
    • Account no.
    • Name of the Account Holder (this may or may not appear on the cheque)
  • The 3rd Party (non ICICI Bank) debit Account holder should sign the Mandate. He/she might not be the ICICI Bank customer
  • Fill in the details in the acknowledgement slip, stamp and hand over the same to the person delivering the Debit Mandate
  • Date of submission of Debit Mandate should not be more than two months from the date appearing in the first 8 digits of the Unique number

Note:

All details, which have to be entered by the customer would be printed and not hand written. The cheque should be cancelled with two transverse lines and the word “CANCELLED” prominently written on the cheque. The cheque should not be signed

H) Failed Credit Request: Request a Transfer can fail due to any of the following reasons

  • Insufficient funds in Payer Account, Debit Bank fails to credit ICICI Bank customer in spite of having sufficient fund available in Payee's account, Withdrawal of consent by the Payer, Payer has closed/transferred the Bank, AccountPayment stopped by court
  • Other reason as assigned by Payer Bank