My first savings account was with ICICI Bank in 2004 because I was curious to know how online banking can be used. It was a big deal 15 years ago to transfer funds and check account balances online.
The internet was not easily available in 2004. I was a student and loved doing my online banking transactions from the computer lab of my university.
I have been a consistent user of ICICI Bank and have had good and bad experiences. Along with a savings account, I have my demat account, term life insurance, Amazon ICICI Bank credit card, MakeMyTrip credit card and current business accounts.
Disclaimer: I am not recommending any product here but I love the way ICICI Bank moves fast with technology.
If you have an account with ICICI Bank then you can clearly see the simplicity of their online interface. I personally feel that some banks tried to copy their interface, but they still lag behind in providing technology solutions.
ICICI Bank has the most beautiful mobile app for banking. I have never faced any issues while using the app, while mobile apps of many other banks are still riddled with bugs.
Anyways, today’s post is about the revolutionary WhatsApp banking launched by ICICI Bank. You must use ICICI Bank’s WhatsApp banking and then share your experience with me.
In March 2020, ICICI Bank launched WhatsApp banking with some features. Now in October, ICICI Bank has become the first bank to offer Fixed deposit, pay utility bills and access trade finance services instantly on WhatsApp.
ICICI Bank is trying to make transactions easier and seamless by introducing WhatsApp banking. It is highly likely that more features like money transfer or investment options might be added in the upcoming months.
To start with ICICI Bank WhatsApp Banking, send ‘Hi’ to 86400 86400 from the mobile phone number registered with ICICI Bank.
Services You Can Use Through ICICI Bank WhatsApp Banking
- Creating FD
- Pay utility bills
- Access trade finance services
- Check account balance
- Last three transactions information
- Credit card limit
- Details of instant loan offers
- Block/unblock credit & debit card
- Open an InstaSave Account (Savings Account) online in 4 minutes
Why WhatsApp Banking Is Revolutionary
WhatsApp banking is the future of banking. WhatsApp has evolved to much more than just a messaging app over the years with upcoming features like WhatsApp UPI which will allow users to make payments through WhatsApp.
With more than 400 Million users in India itself, WhatsApp will definitely continue to innovate. This will give a huge opportunity to the bank to offer more services and features to its customers through WhatsApp banking.
I wouldn’t be surprised if banks would start services like insurance, mutual funds, pension products on WhatsApp.
Secondly, many smartphone users in India are still not familiar with net banking but they know how to use WhatsApp. Users in small towns and villages will also be able to enjoy online banking services easily.
WhatsApp banking will help those who struggle with remembering the username and password of internet banking. Internet banking was a revolutionary step over physical banking in 2004 and now WhatsApp banking seems to be the next banking revolution.
I am not saying that you should completely change your existing way of banking. But you should definitely try out WhatsApp banking for its convenience and keep yourself updated with using the latest technology in banking.
How To Start ICICI Bank WhatsApp Banking Services
You need to save ICICI Bank’s verified WhatsApp profile number 86400 86400 on your mobile phone.
Send ‘Hi’ message from your registered mobile number to the ICICI Bank account.
You will get a list of services available with ICICI Bank WhatsApp banking.
You need to type a keyword for the service that you want to use. For example, if you type <Balance>, you will get your balance instantly in the chat.
Keywords For Using WhatsApp Banking Services
Banking services and its keywords:
1. Create a fixed deposit: Type keyword like <FD>, <Fixed Deposit> and select the FD amount between Rs.10,000 to Rs. 1 crore along with the tenure. You will get the interest rates for different tenures and the amount of money on maturity in the chat.
2. Make bill payments: You can pay utility bills like electricity, cooking gas and postpaid mobile connection through WhatsApp. Type keyword like <Pay Bills>, <Gas>, <Mobile postpaid>.
For electricity bill payments, you have to provide the electricity board and consumer numbers.
For postpaid mobile connection bill payments, you need to confirm the phone number and the network.
For cooking gas bill payments, you have to confirm the provider and customer ID.
3. Check account balance : Type any keyword like <balance>, <bal>, <ac bal>
4. Check last three transactions : Type <transaction>, <<stmt>, <history>
5. Credit card limit : Type any <limit>, <cc limit>, <cc balance>
6. Block/Unblock credit and debit card instantly: Type < block>, <lost my card >,<unblock>,
7. Pre-approved instant loans details :Type <loan>, <home loan>, <personal loan>, <instant loans>
8. Offers on travel, dining, shopping : Type <offer>, <discounts>
9. Open InstaSave account : Type <instasave>, <open instasave account>
Non ICICI Bank Customers
If you are a non-ICICI Bank customer, then you use WhatsApp banking for services like Offers, ICICI Bank ATM’s & branches near me.
Customers holding ICICI Bank Credit Card, but no other relationship can avail services of Credit Card limit and Block /Unblock Card.
Is ICICI Bank WhatsApp Banking Safe?
Messages sent through WhatsApp are secured with end to end encryption. There is no requirement to enter any confidential information such as PIN or password on WhatsApp.
Also, any new features are extensively tested before it is rolled out to the customers.
For instance, WhatsApp UPI was introduced in 2018 for testing but it is going to be launched only now after being tested for two years and after getting required regulatory clearances.
Large banks like ICICI Bank would not launch anything that has a high potential of misuse. At the end of the day, they are responsible for their technology platforms and any unsafe technologies can end up being a nightmare for them.
At the same time, we should also be aware that the internet is not a 100% safe place. You should keep your banking information with yourself. Most of the frauds happen because of the ignorance of users.
ICICI Bank has always been at the forefront of offering the best technologies to its customers, and they are doing the same again with WhatsApp banking.
This is why ICICI Bank is my favorite! I am eager to know your views.
Please write your experience in the comments.