ICICI Bank presents ‘Cardless Cash Withdrawal’

September 10, 2014




  • Withdraw cash without a card from ICICI Bank ATMs
  • Instant registration to transfer money within India to anyone with a mobile number

 

Mumbai: ICICI Bank, India’s largest private sector bank, presents ‘Cardless Cash Withdrawal’, a service that allows its customers to transfer money from their account to anyone in India with a mobile number. The recipient can withdraw money round the clock without using a debit card from over 10,000 ATMs of ICICI Bank across the country. He can do this even without having a bank account of any bank.

 

Commenting on the launch of the service, Mr. Rajiv Sabharwal, Executive Director, ICICI Bank said: “We foresee tremendous growth potential in the usage of electronic payments in our country. ‘Cardless Cash Withdrawal’ provides an added facility in an array of electronic payment options that ICICI Bank offers to its customers. This innovative service will further empower our customers as well as their families and friends by giving access to instant money even without having a bank account or a debit card.”

 

The ‘Cardless Cash Withdrawal’ facility can be initiated by any ICICI Bank savings account customer (sender) by logging into internet banking at www.icicibank.com. The sender first needs to register the recipient’s name, mobile number and address. The sender will get a four digit verification code while the recipient a six digit reference code, over SMS. The recipient can withdraw cash from almost all ICICI Bank ATMs by entering mobile number, cash amount along with the verification and reference code, within two days of the transaction. This service can also be used by the Bank’s account holders to withdraw cash from their own accounts without using a debit card.

 

More information on the service can be availed on http://www.icicibank.com/Cardless Cash Withdrawal.

 

This initiative underscores the Bank’s ongoing strategy to leverage on technology to enhance customer experience across banking channels. The Bank has recently launched a slew of innovative services such as 24x7 Touch Banking branches, Tab Banking, ‘Pockets by ICICI Bank’ - world’s most comprehensive banking application on Facebook; and a redesigned website that offers a seamless experience across devices such as desktops, mobiles and tablets alongwith option to receive location specific information and offers, view their friends’ activities, share their opinions on social media and take part in interactive banking games. The Bank also recently upgraded its internet banking platform that provides customized & personalized views, superior user interface & navigation, advanced security and simplified transaction process to its customers.

 

The Bank services its large customer base through a multi-channel delivery network of 3763 branches, the largest among private sector banks in the country; 11447 ATMs, call center, internet banking (www.icicibank.com), mobile banking and Facebook banking an on June 30, 2014.

 

For news and updates, visit www.icicibank.com and follow us on twitter@ICICIBank.

 

About ICICI Bank Ltd: ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank with consolidated total assets of US$ 124.5 billion at June 30, 2014. ICICI Bank's subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank's presence currently spans 19 countries, including India.

 

Except for the historical information contained herein, statements in this release, which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute 'forward looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of non-performing loans, our growth and expansion in business, the adequacy of our allowance for credit losses, technological implementation and changes, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. All reference to interest rates, penalties and other terms and conditions for any products and services described herein are correct as of the date of the release of this document and are subject to change without notice. The information in this document reflects prevailing conditions and our views as of this date, all of which is expressed without any responsibility on our part and is subject to change. In preparing this document, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources. ICICI Bank and the "I man" logo are the trademarks and property of ICICI Bank. Any reference to the time of delivery or other service levels is only indicative and should not be construed to refer to any commitment by us. The information contained in this document is directed to and for the use of the addressee only and is for the purpose of general circulation only.

 

For Press Queries:

 

Mr. Sujit Ganguli
Senior General Manager & Head - Corporate Communications and Brand Group
ICICI Bank Ltd.
Mumbai –400051
E-mail: ganguli.sujit@icicibank.com



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