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    Interoperable Cash Deposit ICD

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    Abhi1012
    The document discusses an Interoperable Cash Deposit service that allows cardholders of participating banks to deposit cash into their own or third party accounts using cash recyclers or deposit machines from other participating banks. The service benefits both banks and customers by optimizing cash handling costs and providing convenience. Transactions are instantly verified, have a limit of less than Rs. 50,000, and are paperless.

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    Interoperable Cash Deposit ICD

    Uploaded by

    Abhi1012
    10 views1 page
    The document discusses an Interoperable Cash Deposit service that allows cardholders of participating banks to deposit cash into their own or third party accounts using cash recyclers or deposit machines from other participating banks. The service benefits both banks and customers by optimizing cash handling costs and providing convenience. Transactions are instantly verified, have a limit of less than Rs. 50,000, and are paperless.

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    Interoperable-Cash-Deposit-ICD

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    The document discusses an Interoperable Cash Deposit service that allows cardholders of participating banks to deposit cash into their own or third party accounts using cash recyclers or deposit machines from other participating banks. The service benefits both banks and customers by optimizing cash handling costs and providing convenience. Transactions are instantly verified, have a limit of less than Rs. 50,000, and are paperless.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    10 views1 page

    Interoperable Cash Deposit ICD

    Uploaded by

    Abhi1012
    The document discusses an Interoperable Cash Deposit service that allows cardholders of participating banks to deposit cash into their own or third party accounts using cash recyclers or deposit machines from other participating banks. The service benefits both banks and customers by optimizing cash handling costs and providing convenience. Transactions are instantly verified, have a limit of less than Rs. 50,000, and are paperless.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    Interoperable Cash Deposit (ICD):

    The service enables cardholders of participating member banks to use NFS networked Cash
    Recyclers/Cash Deposit Machines of participating member banks for depositing cash in their
    own account or third party account. The service is beneficial for banks as well as its customers
    as it will help banks to optimize cash handling cost and at the same time provide convenience
    to customers by allowing them to use any participating Bank’s Cash Recycler/Cash Deposit
    Machine at any time to deposit cash into their own account or any third party account.

    Some of the key features of the service are as follows:

    a) Real time credit to beneficiary account


    b) Instant verification of notes by cash recycler/cash deposit machine
    c) Optimize cash handling cost and reduce idle cash in machines
    d) Limit per transaction is restricted to less than Rs. 50,000/-
    e) Paperless transaction

    List of Member Banks/WLAOs live for ICD

    Sr. no. NFS Members - Live on ICD


    1 Union Bank Of India
    2 Canara Bank (ISS)
    3 The South Indian Bank
    4 Indian Bank
    5 Equitas Small Finance Bank Ltd.(ISS)
    6 The Pochampally Co-operative Urban bank Ltd.
    7 The Kranthi Co-Operative Urban Bank Ltd.
    8 The Kalupur Commercial Co-Op Bank Ltd
    9 The Ahmedabad Mercantile Co-op Bank Ltd.
    The A.P. Rajarajeswari Mahila Co-Op. Urban Bank
    10
    Ltd.
    11 Sri Vasavamba Co-Op. Bank Ltd.
    12 Kurla Nagarik Sahakari Bank
    13 WLAO- Hitachi Payment Services Pvt Ltd (ACQ)
    14 TJSB Sahakari Bank Ltd (ISS)
    15 The Varachha Co-Operative Bank Ltd.

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