ICICI Bank Launch Facility To Transfer Funds Through Twitter

 

Customers of ICICI Bank can use their Twitter account for real-time fund transfers, prepaid mobile recharges and to check bank balance.

ICICI Bank claimed it is the first in Asia and only second in the world to offer a Twitter-based fund transfer service

The user will have to subscribe ('follow') the bank's Twitter handle and register for the facility

For fund transfer, the sender needs to know the beneficiary's Twitter handle. The sender will get an SMS with a unique code after the transfer; the beneficiary would needto enter it on the special webpage where he/she would bedirected, to complete the transaction.

ICICI will not charge for such fund transfers but the sender will have to pay the fees as applicable for a NEFT or RTGS transaction.

ICICI bank is using the NEFT (National Electronic Funds Transfer) or RTGS (Real Time Gross Settlement) for the transfer and will soon be joining IMPS (Immediate Payment Service) mode