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ICICI Bank Launches Banking Service On Twitter

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Industrial Credit and Investment Corporation of India (ICICI) bank account holders who are highly active on social media platforms have a good news in store for them! The private bank has launched a new banking service called Twitter banking service and claims that it is Asia’s first and world’s second to offer Twitter based fund transfer service.

The bank strongly asserts that it has launched the new service keeping in view the fact that it serves the highest number of youth in the country.

ICICIBankPay-Twitter-banking-720x320

ICICI bank’s esteemed account holders will now be able to perform the following functions:

  • Real-time fund transfers
  • Prepaid mobile recharges
  • Check bank balance

An official said that to avail the aforesaid facility, the bank account users will have to follow ICICI Bank’s Twitter handle @icicibank.

Executive Director, Rajiv Sabharwal said that the bank which is currently using NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) modes for fund transfer will very soon integrate IMPS (Immediate Payment Service) mode as well.

Interestingly, in case of fund transfers, the bank will not be charging any amount. However, the sender will have to pay the fee which will be applicable for that particular NEFT or RTGS transaction.

The registration process for the ICICI Bank account holders who wish to perform real-time fund transfers can be reflected in the image given below:

ICICI Twitter

The sender should be aware of the beneficiary’s Twitter handle to perform fund transfer.  After the fund transfer process, the sender will receive an SMS with a unique code. Once this is done, to complete the transaction, the beneficiary will be required to enter that unique code on the special webpage where she/he will be directed.

However, those beneficiaries who have their account with some other bank will have to use that particular bank’s IFSC code so as to receive the payment.

With a whopping number of 2.8 million registered mobile banking users and 15 million internet banking users, a team comprising of 100 people within the bank is working on digital banking.

This is indicating the growth of Social Banking concept as most of the bank’s targeted set of users are already very active on social media platforms such as Twitter, Facebook etc. Moreover, this initiative has been taken up as the users are highly active on their smartphones on a daily basis.

So, banks caught the nerve and thought of leveraging upon these platforms on which the users are comfortable to use. This will ultimately increase the level of service usage thus sufficing the purpose of launching this service.

Credits: icicibank.com

  • social-media-training


  • There is 1 comment


    • 3 years ago

      Aparna   /   Reply

      Happy to see such news !!! ICICI Bank has pulled the right chord as more and more people are spending their time on social networking sites. Bank has tapped the youth market by making this banking facility available over Twitter. A big thumbs up to ICICI Bank !!!

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