How to Add Beneficiary in ICICI Bank Account?

If you want to transfer money from your ICICI Bank account. Then up to a certain limit, you can do that without adding the beneficiary. But after a certain limit. If the value of the transfer is high. Then it is recommended for you to add beneficiary in ICICI Bank account. And then initiate the transfer.

When you add a beneficiary account it is like verifying the details of the receipt. (person who is receiving the money) But you have to take special care and check the details you have entered while adding the beneficiary. If you enter the wrong account number. Then it is completely your responsibility and not that of the bank.

While adding the account you will be asked if you are adding an ICICI Bank Beneficiary or another bank beneficiary. Here if you select “ICICI Bank” then you need not enter the IFSC code. But in case if you are adding another bank beneficiary. Then you have to enter the IFSC code along with the name and account number.

Methods to Add Beneficiary in ICICI Bank Account

Add Beneficiary in ICICI Bank Account

There are two methods that you can use. The first one is using the mobile banking app of the bank. And the second method is with the help of the internet banking portal. Both the methods are explained below. You can choose anyone and follow the instructions.

Using iMobile App of ICICI Bank

  1. Download and Install the iMobile app on your smartphone.
  2. Open the app after installation.
  3. Login into the app by entering your username and password.
  4. Select your “My Savings Bank Account” from the cards.
  5. Tap on “Funds Transfer”.
  6. Then on the next screen, you have to select “Add/Manage Payee”.
  7. Now you have to select between “ICICI Bank Payee” and “Other Bank Payee”.
  8. Enter the name, account number, and the IFSC code of the beneficiary account.
  9. Verify all the information you have entered and tap on the “Proceed” button.
  10. You will receive an OTP on your registered mobile number, enter the OTP and tap on the “Submit” button.
  11. Your new beneficiary or payee will be added successfully.

Using Internet Banking

  1. Visit the official website of ICICI Bank.
  2. Login to your account by entering your username and password.
  3. Click on “Payments & Fund Transfers”.
  4. After that click on “Add New Payee”.
  5. Next, you have to select if the payee has an account with ICICI Bank or other banks.
  6. Enter the name, account number, and the IFSC code of the beneficiary account.
  7. Click on the “Next” button.
  8. Confirm all the details you have entered and if everything is correct then click on the “Confirm Payee” button.
  9. You will receive an OTP from the bank, enter it correctly and click on the “Confirm” button.

Conclusion

Once you have added the beneficiary account, you will have to wait for the next 30 minutes. ICICI Bank takes 30 minutes to activate the account. Once it is done you can transfer funds from your account. If you need more help then you can call the customer care of the bank.