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i-Cash Payment Products - IDBI Bank i-Cash payment products
Corporate have to make payments to several counterparties. These range from vendor payments to taxes and government levies to mass payments of dividend and interest. The corporate treasurer single-mindedly attempts to optimize the payments, such that the disbursal happens at the farthest point in time and at the least cost. IDBI Bank's customized and value enhancing bulk payments solution enables customers to outsource their low-value, high volume payments and thus help the Treasurer achieve this objective. Our Disbursement products are categorized based on type of instrument, drawn on location and specific features of the instrument. The various products existing on the disbursements front are as follows:
Benefits of Disbursements products
Prompt Pay: Bulk Demand Draft issuance on IDBI Bank locations.
Prompt Pay Plus: Bulk Demand Drafts payable at Non-IDBI Bank locations covered through partner bank network.
Quick Cheques (Cheque Writing): Complete outsourcing of cheque issuance by corporate, reducing administrative and operating costs.
Remote Pay Order: Printing of Pay Orders at branch locations based on instructions received centrally.
Expro Pay: Bulk draft issuance on IDBI Bank’s network on customized instrument format.
Bulk RTGS / NEFT through direct upload: Bulk transaction file upload facility for e-payment products such as NEFT and RTGS
Bulk-payment processing capacity
Payment instructions through e-mail or direct uploads on i-CashWeb
Single file upload for payment through multiple products
MICR Band Printing facility
Online Validation eliminating possibilities of fraudulent encashment
Customized MIS with online viewing option or download through i-CashWeb
Enhanced reach through correspondent bank tie up.
Payments Products online access:
Multi-product payment upload through a single file
Payment initiation through 24x7 access via net
Scheduling of future dated payments
Authorization Verification Matrix
Beneficiary master upload
Online status updation for all transactions
Dynamic signature capture
Instruction status query
Stop Payment request