Beneficiaries are persons or entities designated by the account holder to receive the assets in the account, usually in the case of the account holder’s death. Beneficiary Rules for Bank Accounts When you open a checking or savings account, unlike other accounts, you are not required to name a beneficiary.
In ICICI Bank ( Industrial Credit and Investment Corporation of India ) it is difficult to transfer money without adding a beneficiary. Adding beneficiary is not a big task but in case of urgency, it may affect you. Adding and activating a beneficiary in an account is a lengthy process.
But there are few ways from which you can transfer money from one account to another. In this article, you will see all the ways by which you can transfer money without adding any beneficiary.
- Through UPI (Unified Payment Interface)
- ICICI Internet Banking via ICICI mobile application quick transfer facility.
Let us drive deep into the topics-
1. Through UPI:
To promote the initiative of Cashless transactions, our former RBI Chairman, Raghuram Rajan has founded the UPI QR code payment method in 2016.
Unified Payment Interface is an easy way of transferring money from one person to another through a UPI code. The money is automatically transferred to the Payers’ Bank Account. It is the most trusted and the fasted source of transferring and receiving payment by sitting in the comfort of our homes.
Step 1: Download and install Paytm
Step 2: Open the app
Step 3: Login using mobile no
Step 4: Search for UPI and click on the UPI Icon
Step 5: You will be redirected to UPI
Step 6: Scroll down and click on Select bank
Step 7: Select in the logo of ICICI Bank
Step 8: Wait for few sec
Step 9: Bank account link
Step 10: Set UPI
Step 11: Enter Debit Card Details like Card Number, Expiry Date, etc
Step 12: Enter opt to verify
Step 13: Set the PIN
Step 14: Verify the pin
Step 15: You can transfer money from your ICICI Bank account.
Step 16: Then, click on ‘Make payments’ to transfer money to the Bank Account.
2. Transfer money through Bank
ICICI online banking and the iMobile App both have this functionality. You may utilise this functionality by logging into any of these services. For the time being, we are using the Internet Banking service; nevertheless, the process is the same for the iMobile app also.
Step 1: Open the ICICI Bank website (icicibank.com) on your PC or smartphone browser.
Step 2: Then, to log in to your account, click the ‘Login‘ option and enter your user id and password.
Step 3: Select the ‘Payments & Transfer’ option from the main menu.
Step 4: Select the ‘Fund Transfer‘ option from the submenu.
Step 5: Click the ‘Quick Fund Transfer‘ option on the left side menu of the new screen.
Step 6: Now, on the next screen, choose either “To ICICI Bank” or “To Other Bank Account” depending on the receiver’s bank.
Step 7: Using your computer or smartphone browser, go to icicibank.com.
Step 8: Then, to log in to your account, click the “Login” button and enter your user id and password.Step 9: Select ‘Payments & Transfer’ from the main menu.
Step 10: Select the ‘Fund Transfer‘ option from the sub-menu.
Step 11: Click the ‘Quick Fund Transfer’ option on the left side menu of the new screen.
Step 12: Now, on the next screen, choose “To ICICI Bank” OR “To Other Bank Account” according to the type of bank account the receiver is in.
Step 13: Confirm the Payment.
Step13: Congrats! Your money is Transferred.
Frequently Asked Question (FAQs)
Q. What all is needed for transferring money online?
A. The following things are required:-
- User ID of ICICI Internet Banking and password and
- Register your mobile number on the ICICI Internet Banking application
Q. I have added a beneficiary. How can I transfer money offline?
A. If you have a beneficiary added and want to transfer the money. Then there are several ways like NEFT, RTGS and IMPS. You can use any of the following ways to transfer money to anyone. A small charge is Charger called Transfer Cost.
Q. In the Internet banking method why I am not able to transfer money more than 10,000.
A. There is a lower limit and an upper limit in the Payment of Account.
You can not pay more than 10,000 at a time and cannot pay less than 10,000 at a time.
These are the toll-Free number of ICICI Bank
retail banking customers
+1 (800) 120-7777
Wealth Banking Customers: 1800 103 8181
In this article, we have learned about the different ways of transfer money without adding beneficiaries in ICICI. Hope this article has helped you in both, enhancing your knowledge regarding the payment of PNB Credit Card Bill Online Quickly. Hoping you have briefly understood what this Portal facilitates you with and its usage.
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