Urgent Update Regarding Handling Cash Deposits / CDM Deposits !

November 10, 2016 Sreejith News & Updates

By the time you might have aware about with the recent ban of Rs 500 and Rs 1000 notes by the RBI, in connection with this we would like to inform that our ICICI Bank New Account ending with 00476 will still continue to accept old Rs 500 and Rs 1000 denomination subjected to the below terms & conditions.

TERMS & CONDITIONS FOR ACCEPTING CASH DEPOSITS

  • Your Master Re seller Agreement & KYC should be in approved Status.
  • Your bank & branch details should be whitelisted with us before you start depositing Cash. (Login-> Support -> Whitelist Banks)
  • As of now Cash Deposit is only allowed in our New ICICI Bank Account Number ending with 00476.
  • Your customers/agents/retailers/re sellers are not supposed to deposit cash in our bank accounts. In case any kind of similar instance is reported we will not able to update your wallet.
  • You should carry only the customized pay-in slip generated from our platform for all cash deposits (Support -> Whitelist Banks)
  • Bank will accept old Rs 500 and Rs 1000 notes from 10th November 2016 till 30th December 2016 only.
  • Cash Deposit Authorisation Letter needs to be generated from our platform and it should be carried when you or your authorized representative goes to branch for Cash Deposits.
  • All Cash deposit will attract additional 0.15% Bank Charges which will be debited from your Wallet.

HOW TO GENERATE CASH DEPOSIT AUTHORIZATION LETTER

  • Login to your platform – Navigate to Support -> Whitelist Banks -> Add Executives
  • Click on the “Add Executives” and fill all the data accurately (Title, Full Name, ID Card Type, ID Card Number, Relationship with you & the depositor & Upload the Scanned Copy of the ID Card )
  • Once the executive/authorized person is added you can see their details in the same page itself and to download the authorization please navigate to Support ->Whitelist Banks -> Click on “Authorization Letter ” link -> from the popup window select appropriate person and Click “Download Authorization Letter”
  • You can enroll your office staffs, business partners, friends, close relatives or yourself for the purpose of authorizing.
  • You can only enroll/authorize maximum 3 persons including yourself.
  • Once the data is entered editing / deletion is not possible.

STEPS TO BE FOLLOWED AT BANK.

  • Please handover the Cash, Customized Filled Pay-In Slip & Authorization Letter to the Bank Officer.
  • Bank Officer will ask self-attested photocopy of the ID card mentioned in the authorization letter and Original ID card for verification.
  • Bank officer may ask you the Agency Code (Userid) & Company Name once more to confirm the details.
  • Please collect the cash deposit acknowledgment slip along with the reference number and update it to the platform for getting your wallet updated.
  • In case you or your authorized representative facing any issues from the bank then please keep touch with our support team along with branch details.

Important Instruction : As Govt of India & RBI taken strict action against Black Money, Hawalla, Fake Currencies you may get many requests from 3rd parties to convert/park the black money into the B2B Digital wallet you hold with us. We request our valuable customers not to entertain any such requests and always keep in mind that all transactions are being recorded /monitored by the RBI & Govt Of India.

We request all our valuable customers who are depositing cash to our Current accounts are requested to follow the above instructions for a smooth, safe & legal business operations.

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