What are the various modes of fund transfer available in CIB?
Corporate Internet Banking offers real time fund transfers. You can either do a one-to-one fund transfer or a bulk transfer. In one-to-one fund transfer the accounts are linked and you have to select the debit and credit account, enter the amount and narration for fund transfer and affect the same. For bulk transfers you need to upload a text file containing the payment/collection instruction. The format of the text file can be pre-defined and the main contents of the file are account no., amount, currency code and narration for the payment/collection. This is useful for effecting multiple payments/collections at a single click. Bill payments: You can pay all the utility bills of your various offices online. Alternatively, in case you want your customers/dealers to pay you online, you can be hosted as a biller on CIB. The payments made by the customers/dealers to you would be credited to you instantaneously and a daily-customized MIS of receipts would be emailed to you. Tax Payment: Yo
You can effect a one-to-one fund transfer or a bulk transfer and both of them operates on real time basis. In one-to-one fund transfer the accounts are linked and the user selects the debit and credit account, enter the amount and narration for fund transfer and effects the same. In bulk transfer the user uploads a txt file containing the payment/collection instruction. The format of the txt file can be pre-defined and the main contents of the file are account no., amount, currency code and narration for the payment/collection. This is useful for effecting multiple payments/collections at a single click.
