ICICI Bank Account Holders Can Now Transfer Funds via Twitter

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Private sector lender ICICI Bank on Monday launched a facility which allows account-holders to transfer funds throug Twitter, apart from recharge their prepaid mobile accounts and check their bank balances.

Users will have to subscribe or follow the bank's Twitter handle @ICICIBank and then register for the facility. To register, users will need to send a direct message (DM) in the format "#reg".
After this, the customers will receive a one time password (OTP) on their registered mobile number, which again needs to be sent as a DM from their Twitter account to the bank's Twitter account in the format "#regotp".

The bank is using NEFT (National Electronic Funds Transfer) or RTGS (Real Time Gross Settlement) methods for the fund transfers, and will soon be enabling the IMPS (Immediate Payment Service) mode too.

This one's for all the twitterati! With #icicibankpay, you can now bank on Twitter. Know more: t.co / Twitter Ui0PkeEq63pic.twitter.com/vhaLh0xMTr

-- ICICI Bank (@ICICIBank) January 19, 2015
For fund transfer, the sender needs to know the beneficiary's Twitter handle. To initiate funds transfer, registered users will have to use the following format, "#Pay @." Upon sending the DM on Twitter, customers will receive a SMS on their registered mobile number with a four-digi redemption passcode, which they will have to share with the beneficiary. This passcode is valid for usage within three days of the creation of the request.

Beneficiaries will receive a tweet from the bank with a link that will take them to a secured page on ICICI Bank's website. Here, beneficiaries will be required to verify their Twitter account along with name, account number, IFSC code (in cas using a different bank) of the bank account where the money is desired to be credited, and the four digit passcode received from the sender.

Customers can send up to Rs. 5,000 per transaction with a limit of Rs. 10,000 per day. The bank will not charge for such fund transfers but the sender will have to pay the fees as applicable for an NEFT or RTGS transaction

ICICI Bank customers can use Twitter to transfer money - TOI Mobile | The Times of India Mobile Site

http://m.gadgets.ndtv.com/social-networking/news/icici-bank-account-holders-can-now-transfer-funds-via-twitter-650929
 
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