UNDRESTANDING THE BANK@HOME PROCESS

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Sunanda K. Chavan
UNDRESTANDING THE BANK@HOME PROCESS

Bank@Home is a unique service that ICIC started in November last year, it is one of the first and the only bank to offer this service and has been authorized by RBI for the same. ICICI Bank has been working to make banking simple and flexible. The present life style of the people is a hectic one keeping the customers in mind and their comfort ICICI Bank came up with flexible working hours from 8 am to 8 pm.

The Bank@home service allows the customers to use the banking service without having to visit the branch and wait in long queues. ICICI Bank understood the paucity of time of their customers. The Bank therefore introduced their service Bank@Home that allows customers to use their service 24x7, so even if the customers have not been able to take care of their issues during the banking hours ICICI is still there to take care of their issues.


Working:

Bank@Home has 2 models

• Remote Service Delivery (RSD)

• Cash On Tap (COT)

Bank@Home (RSD) is a service that has been structured in a simple way, the bank will be putting up request drop boxes throughout the city, many of the banking issues can be handled by this box 24x7.

The customers will have to enroll* with the bank for the service (there is no enrollment fee), on enrollment they would be given an identification number. Once the customer has got enrolled with the branch he can start using the service. All that the customers have to do is fill up the request form that is available at the request drop boxes. The request form contain various issues that can be handled by the service and the customers can choose any one request per form.

The request drop boxes are cleared on a daily basis, and the request reach the respective branches the next day and the processing for the request start. Therefore effectively the bank would only take a day extra for the request to be handled. The processing time however will be the same for the request. Example A customer visiting the branch with the request for a cheque book issue, the processing time for which is 5days, the customers may use the Bank@Home service for the same and the processing time will be 6days.

Bank@Home (COT) allows its customers to call the phone banking assistance and ask for cash to be delivered to him/her or ask someone to pick up cash for depositing it into his account. Calls made on a working day between 8 am to 6 pm will be served within the next 2hrs. Calls made after 6 pm or on a non working day will be served within 2hrs of the branch opening on the next day.


Customers however have the option to request the time of delivery/pickup of cash however 2hrs is the minimum time for the bank to serve the request. Incase customer wants to withdraw /deposit cash through Bank@Home (RSD) then the cash will only be delivered/picked up the next working day from the day the request has been made.

The customer while using the cash on tap service will be asked to provide a cheque number against which the cash will be delivered. The cehque will be a self drawn cheque for the amount to be withdrawn. At the same time the customer will provided with a transaction id over the phone. In order the receive the cash the cheque number told by the customer over the phone must match with the cheque presented to the representative also the transaction id must match.

*(It is not necessary that the customer is enrolled with the Bank@Home service to use cash on tap service the representative that the serves the request will get it filled at the time of picking up or delivering cash)


Services Provided

Bank@Home allows its customers to deal with the following issues without having to visit the branch and dropping in request forms in the request drop boxes placed throughout the city.

• Application for DD/PO/Funds Transfer
• Cheque book request
• Cash Withdrawal
• Cash Deposit
• FD/RD account leads and renewal
• Bank statement issues
• Account opening leads
• De-mat account opening leads
• ATM/Debit card De-blocking
• ATM/Debit card pin regeneration
• Debit card reissue
• Internet/Mobile banking registration
• Interest Certificate request
• Linking Account to existing internet banking id

The services mentioned above are provided under Bank@Home Remote delivery service (RSD)


The Bank@Home Cash On Tap service provide the following two services

• Cash Withdrawal
• Cash Deposit



PRICING:


The Bank@Home remote service delivery (RSD) model is absolutely free of cost, there are no extra charges for the requests placed under this model i.e. where customer drops in request in the request drop boxes put up throughout the city. However all normal processing charges presently applicable on any request will apply. Example If a duplicate statement request at the branch costs Rs.25, then the request for the same through the RSD model will cost the same.


The Bank@Home Cash On Tap (COT) that basically deals with the request of Cash withdrawal and Cash deposit do charge a flat fee of Rs.40 incase the cash is required within 2hrs, cash request after 2hrs from the request are not charged, However for HNI customers (customers having balance of more than 5,00,000 in their account) there are absolutely no charges.

The maximum limit for cash withdrawal is Rs.1,00,000 whereas the minimum is Rs.2,000 incase the customer is not registered with Bank@Home he may still use the Cash on Tap service, however he can only withdraw Rs.10,000 on his first request. Depositing cash more than Rs.50,000 would require the PAN number of the customer.

Incase customers want to withdraw/deposit cash through Bank@Home (RSD) model then the requests served the next working day from the day the request had been made. There will be absolutely no charges for the same. There is no need of enclosing cheque leaf with the request form, the representative of the bank will collect the cheque.
 
UNDRESTANDING THE BANK@HOME PROCESS

Bank@Home is a unique service that ICIC started in November last year, it is one of the first and the only bank to offer this service and has been authorized by RBI for the same. ICICI Bank has been working to make banking simple and flexible. The present life style of the people is a hectic one keeping the customers in mind and their comfort ICICI Bank came up with flexible working hours from 8 am to 8 pm.

The Bank@home service allows the customers to use the banking service without having to visit the branch and wait in long queues. ICICI Bank understood the paucity of time of their customers. The Bank therefore introduced their service Bank@Home that allows customers to use their service 24x7, so even if the customers have not been able to take care of their issues during the banking hours ICICI is still there to take care of their issues.


Working:

Bank@Home has 2 models

• Remote Service Delivery (RSD)

• Cash On Tap (COT)

Bank@Home (RSD) is a service that has been structured in a simple way, the bank will be putting up request drop boxes throughout the city, many of the banking issues can be handled by this box 24x7.

The customers will have to enroll* with the bank for the service (there is no enrollment fee), on enrollment they would be given an identification number. Once the customer has got enrolled with the branch he can start using the service. All that the customers have to do is fill up the request form that is available at the request drop boxes. The request form contain various issues that can be handled by the service and the customers can choose any one request per form.

The request drop boxes are cleared on a daily basis, and the request reach the respective branches the next day and the processing for the request start. Therefore effectively the bank would only take a day extra for the request to be handled. The processing time however will be the same for the request. Example A customer visiting the branch with the request for a cheque book issue, the processing time for which is 5days, the customers may use the Bank@Home service for the same and the processing time will be 6days.

Bank@Home (COT) allows its customers to call the phone banking assistance and ask for cash to be delivered to him/her or ask someone to pick up cash for depositing it into his account. Calls made on a working day between 8 am to 6 pm will be served within the next 2hrs. Calls made after 6 pm or on a non working day will be served within 2hrs of the branch opening on the next day.


Customers however have the option to request the time of delivery/pickup of cash however 2hrs is the minimum time for the bank to serve the request. Incase customer wants to withdraw /deposit cash through Bank@Home (RSD) then the cash will only be delivered/picked up the next working day from the day the request has been made.

The customer while using the cash on tap service will be asked to provide a cheque number against which the cash will be delivered. The cehque will be a self drawn cheque for the amount to be withdrawn. At the same time the customer will provided with a transaction id over the phone. In order the receive the cash the cheque number told by the customer over the phone must match with the cheque presented to the representative also the transaction id must match.

*(It is not necessary that the customer is enrolled with the Bank@Home service to use cash on tap service the representative that the serves the request will get it filled at the time of picking up or delivering cash)


Services Provided

Bank@Home allows its customers to deal with the following issues without having to visit the branch and dropping in request forms in the request drop boxes placed throughout the city.

• Application for DD/PO/Funds Transfer
• Cheque book request
• Cash Withdrawal
• Cash Deposit
• FD/RD account leads and renewal
• Bank statement issues
• Account opening leads
• De-mat account opening leads
• ATM/Debit card De-blocking
• ATM/Debit card pin regeneration
• Debit card reissue
• Internet/Mobile banking registration
• Interest Certificate request
• Linking Account to existing internet banking id

The services mentioned above are provided under Bank@Home Remote delivery service (RSD)


The Bank@Home Cash On Tap service provide the following two services

• Cash Withdrawal
• Cash Deposit



PRICING:


The Bank@Home remote service delivery (RSD) model is absolutely free of cost, there are no extra charges for the requests placed under this model i.e. where customer drops in request in the request drop boxes put up throughout the city. However all normal processing charges presently applicable on any request will apply. Example If a duplicate statement request at the branch costs Rs.25, then the request for the same through the RSD model will cost the same.


The Bank@Home Cash On Tap (COT) that basically deals with the request of Cash withdrawal and Cash deposit do charge a flat fee of Rs.40 incase the cash is required within 2hrs, cash request after 2hrs from the request are not charged, However for HNI customers (customers having balance of more than 5,00,000 in their account) there are absolutely no charges.

The maximum limit for cash withdrawal is Rs.1,00,000 whereas the minimum is Rs.2,000 incase the customer is not registered with Bank@Home he may still use the Cash on Tap service, however he can only withdraw Rs.10,000 on his first request. Depositing cash more than Rs.50,000 would require the PAN number of the customer.

Incase customers want to withdraw/deposit cash through Bank@Home (RSD) model then the requests served the next working day from the day the request had been made. There will be absolutely no charges for the same. There is no need of enclosing cheque leaf with the request form, the representative of the bank will collect the cheque.

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