Unhappy with your bank’s crippled net banking facility? How many times have you have wished that you had a fully featured Internet banking service which has all the features which would help you transact on the Internet smartly. want to change to another bank’s net banking service but don’t want ditch your old savings account.
ICICI bank has product which they call “b2 Branch Banking“.It is a fully online direct banking service in which everything is done online, zero transaction charges on the savings account, no cheque book, no branch access, savings account with quantum optima facility. It is too simple, easy and saves your time
- What a b2 account offers:
- Zero Balance and Zero Transaction Charges – There are no charges on transaction done in b2 savings account. Also, unlike regular savings account you don’t have maintain a minimum amount in your account.
- Virtual Credit Card(VCC) - It enables to transact online with a credit limit of your choices. This card has limited balance which user specifies while generating so even if it fails in wrong hands you stand no risk.
- No Penalty for premature withdrawal of FDs – you can make a premature withdrawal(breaking it before its full term) in your b2 saving account without having to incur the 1% penalty applicable on regular FDs.
- E-wallet – An e-wallet gives you the conform of using a debit card online without having to expose your entire savings account for online transactions.
- Greater Acceptability - ICICI payment gateway is supported by most e-commerce Website. where as name of your good old bank may not appear while you are shopping on your favorite Website .
- Online Prepaid Mobile Recharge – you can recharge your mobile right from your b2 account itself and money would be automatically debited from your account. not a big feature but still useful. maybe you can use to refill when your talktime runs out in middle of night while talking to your girlfriend.
- Absolutely No Making Charges on Demand Draft
- No Charges on NEFT
- SMS Alerts
Now, we know that B2 savings account is not a regular savings account. then obviously we must not be getting facilities of normal savings account. below is the difference between normal saving account & b2 savings account
- What a b2 account does not offer:
- No branches, no cheque books – You will not have access to any ICICI Bank branches. For instance, you won’t be able to withdraw cash from a branch. since, you can move money online in easy ways, there will be no cheque book with account.
- No debit card, no ATM access – Since this is a truly online account – you can move money from your b2 account to your other bank(S) very easily as and when you wish – you will not need a debit card or access to an ATM
- No physical statements and passbook – you will not get any passbook or statement. instead you can see them, in your b2 account itself.
To Apply for ICICI b2 account, you have to visit ICICI B2 Page and click on Apply Here. A simple online Application form has to be filled with all your details. After filling up the form an ICICI bank executive would come to you for collecting required documents.
One problem you might face is in step-3 that name of your employer might not be on the list. no problem, simply click on “O” and select “Others”. if you are unemployed like you are still studying then simply write “NOT APPLICABLE”.
- How to move money into your b2 account: there are many ways of doing that but the best one is dropping a cheque into any ICICI bank ATM’s Dropbox. just write your name and b2 account no in pay field and the amount would be debited to your account in 5 days.
- How to move money out of b2 account: Again, there are many ways. the best is to transfer money into some other account by NEFT.
This service is useful for people you do lot of electronic transactions on regular basis.b2 can exist in perfect harmony with your regular savings account. use b2 for electronic transactions and your regular account for other offline transactions.
It is a real Internet banking facility which is absolutely free to use. I wonder how ICICI plans to earn from this service. I have been using this service from past 2months and I am very happy with it. I would certainly suggest you to sign up for it.