How to Add Beneficiary in ICICI Bank?

Customers of ICICI Bank have access to a wide range of banking services, including online fund transfers. Customers must first add beneficiaries to their online money transfer accounts, such as IMPS, RTGS, and NEFT.

Follow the steps below to add a beneficiary to your ICICI Bank account using Net Banking and the iMobile App.

What is a Beneficiary Account?

A fund recipient account is a beneficiary account. A beneficiary can be a customer of the same bank or a customer of any other bank. The funds sent by the payer are received by the beneficiary or payee.

Add Beneficiary in ICICI bank using Internet Banking

How to add a beneficiary to your ICICI Bank Net Banking account:

Step #1: Go to the official website ICICI Bank Netbanking.

Step 2: To log in, enter your user id and password.

Step #3: Search for Payment & Money Transfer on the home page and click on it.

Step #4: Choose Manage Payees from the drop-down menu.

Step #5: Next, choose the Add New Payee option and the payee choice. You will have the option of using the ICICI Bank or another bank.

Step #6: The next window will ask you to fill in the beneficiary/payee name, account number, IFSC code, account type, and other options.

Step #7: Double-check your information and click the Confirm button.

Step #8: Your bank will send you an OTP to your registered phone number. You can always generate a new OTP if you haven’t received one or have missed one.

Step #9: Enter the reference number and click Confirm Payee to submit.

Step #10: Your beneficiary may have been successfully added after the transaction was completed.

Add Beneficiary in ICICI bank using iMobile App 

Using the ICICI Bank iMobile App, follow these steps to add a beneficiary:

Install and open the ICICI iMobile app first.

Step 2: Put your PIN in.

Step #3: Select Fund Transfer from the My Savings Account menu.

Step #4: Next, choose the Add New Payee option and the payee choice. You will have the option of using the ICICI Bank or another bank.

Step #5: Fill in the beneficiary/payee name, account number, IFSC code, account type, and other options in the next window.

Step #6: Select the Submit button after you’ve double-checked all of your entries.

Step #7: To continue the process, press the Proceed button.

Step #8: The bank will email you an OTP to the phone number you provided. Choose Submit after entering the OTP. You can always generate a new OTP if you haven’t received one or have missed one.

Step #9: Your payee/beneficiary may have been added after the process was completed.

ICICI Bank Beneficiary Activation Time

It takes 30 minutes to activate beneficiaries. Within 30 minutes, the funds will be transferred to the newly added beneficiary. You can add up to ten beneficiaries per day using the iMobile App and Internet Banking app.

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Frequently Asked Questions

What is the cooling period for adding beneficiaries in ICICI Bank?

Customers of ICICI Bank are unable to conduct transactions till the cooling time has expired. The time after that varies from 30 minutes to 4 hours.

What is the limit of beneficiaries that can be added in a day in ICICI Bank? 

Customers of ICICI Bank can add 200 beneficiaries in a single day.

What are the benefits of adding beneficiaries? 

Customers do not have to provide information for transactions after adding a beneficiary.

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