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What are the charges applicable on my account ?

Please refer the updated schedule of charges applicable on your account. Charges would vary depending on the account type that you have opted for.

Can I access my account from any branch of IndusInd?

Yes, you can access your account from any of our branches in the country. However, some transactions may require that you submit the documents at your base branch only.

How do I know that my account is active?

You will receive an SMS on your registered mobile number once the account application has been processed and account has been activated. If you have not registered your mobile with us, please contact our nearest branch or call our helpline within 7 days of submission of account opening forms to confirm status of account activation

When will I receive my account statements ?

Your account statement will be sent by post / courier are per defined frequency. You can view your account online using your Indusnet I.d & login password. You can also, register your email I.D for receiving monthly statements via email. You can register your preferred email .d by calling us or by submitting your request througt IndusNet.

What is an Automated Teller Machine (ATM)?

Automated Teller Machine is a computerised machine that provides the customers of banks the facility of accessing their accounts for dispensing cash and to carry out other financial transactions without the need of actually visiting a bank branch.

What type of cards can be used at an ATM?

The ATM cards / debit cards, credit cards and prepaid cards (that permit cash withdrawal) can be used at ATMs for various transactions.

What are the services / facilities available at ATMs?

What are the services / facilities available at ATMs?

  • Account information [Balance Inquiry]
  • Cash deposit
  • Mini / Short statement
  • PIN Change
  • Fund Transfer to/from accounts linked to the card.
  • Cheque Book Request
  • Statement request [by default for the last month].
  • Mobile Banking registration
  • Internet Banking registration 

The services offered may vary from bank to bank, or may depend on the capacity of the machine to provide such services.

How can one transact at an ATM?

For transacting at an ATM, the customer insert (swipe) their card in the ATM and enter their Personal Identification Number (PIN).

Can these cards be used at any bank ATM in the country?

Yes. The cards issued by banks in India should be enabled for use at any bank ATM within India.

What is a Personal Identification Number (PIN)?

PIN is the numeric password for use at the ATM. The PIN is separately mailed / handed over to the customer by the bank while issuing the card. This PIN has to be reset to a new PIN by the customer. Most banks force the customers to change the PIN on the first use.
The PIN should not be written on the card, card holder, etc. as in such cases the card can be misused if card is lost / stolen.

What should one do if he forgets PIN or the card is sucked in by the ATM?

The customer may contact the card issuing bank branch and apply for retrieval / issuance of a new card. This procedure is applicable even if the card is sucked in at another bank’s ATM.

What should be done if the card is lost / stolen?

The customer may contact the card issuing bank immediately on noticing the loss so as to enable the bank to block such cards.

Is there any minimum and maximum cash withdrawal limit per day?

Yes, banks set limit for cash withdrawal by customers. The cash withdrawal limit for use at the ATM of the issuing bank is set by the bank during the issuance of the card. This limit is displayed at the respective ATM locations.

For cash withdrawals at other bank ATMs, RBI has advised to maintain a limit of Rs. 10,000/- per transaction. This information is displayed at the ATM location.

Do banks levy any service charge for use of other bank ATMs?

No charges are payable for using other banks’ ATM for cash withdrawal and balance enquiry, as RBI has made it free under its “Free ATM access policy” since April 1, 2009. But banks can restrict the number of such free transactions to a maximum of five per month. For transactions beyond this minimum number of transactions, banks charge maximum of Rs. 20/- per transaction.

What should be done in case during the cash withdrawal process, cash is not disbursed by the account gets debited for the amount?

The customer may lodge a complaint with the card issuing bank. This process is applicable even if the transaction was carried out at another banks ATM.

How many days maximum would the bank require to re-credit the account for such wrong debits?

As per the RBI instructions, banks may re-credit such wrongly debited amounts within a maximum period of 7 working days.

Are the customers eligible for compensation for delays beyond 7 working days?

Yes. Effective from July 1, 2011, banks have to pay customers Rs. 100/- per day for delays beyond 7 working days. The compensation has to be credited to the account of the customer without any claim being made by the customer.If the complaint is not lodged within 30 days of transaction, the customer is not entitled for any compensation for delay in resolving his / her complaint.

In case the compensation is not credited as mandated, what recourse does the customer have?

For all such complaints customers may lodge a complaint with the local Banking Ombudsman if the bank does not respond.

What is the RBI guideline on cash retraction on ATMs?

In line with the RBI directive on Cash retraction, please note IndusInd Bank ATMs will not retrieve back the currency notes once dispensed out by the machine. Customers are requested to remember to collect the cash dispensed by the ATM.

Can I do a Stop Cheque for my IndusInd Bank Cheque on IndusInd Bank ATMs?

Yes, you can stop an IndusInd Bank cheque issued by you at IndusInd Bank ATMs

Is this facility only available for IndusInd Bank customers?

Yes, only an IndusInd Bank debit card holder using an IndusInd Bank ATM will be offered the service.

What happens if the cheque stop payment is confirmed and later the cheque is cleared?

The Stop Cheque status is an online request. In case the same is stopped then the cheque will not get cleared, thus you need not worry about such an occurrence.

Where do we find this facility available on ATM?

It is available in Banking Services – Under the option OTHER

Can a series of cheques also be stopped in one transaction using this facility - (say for ex 123450 to 123459)?

No individual cheque numbers would need to be entered for requesting the stop payment

Are there any charges for this facility?

This service will attract the standard charges of Cheque stop payment for each request processed successfully. That is if multiple cheques are stopped through an ATM, the charges for each stop payment will be levied respectively.

In case the cheque is already cleared or if the cheque is getting processed, then what happens to the request

If the cheque has already been cleared the stop cheque request will not processed.

Will I get a printed confirmation of the Cheque Payment being stopped?

Yes, if a transaction slip is requested for the transaction, the confirmation will get printed on the same.

What types of cheques can I stop using this option?

This facility is only available for cheques issued centrally that is CTS compliant cheques

What are Balance Alerts?

The SMS message from IndusInd Bank informing you of the balance in your account is called the Balance Alert. The message is sent to your registered mobile number at the beginning of the day. It is beneficial for customers who monitor the account balance regularly.

What are Transaction Alerts?

Whenever there is a transaction in your account a SMS alerts which informs you of the transaction details is sent to your registered mobile number.

  • This alert is sent when the value of transaction is above a threshold value as defined by you while registering.
  • The alerts for transactions done through debit card are sent irrespective of the value of the transaction.
What are the charges for the abovementioned services?

Starting December 2013, specific account types will be charged for the balance alert facility. A nominal charge of Rs 25 plus taxes per quarter will be applicable. The service is free in case the average balance in your account is maintained at 20,000 or above. Senior citizens are also exempt from the charge. For details please refer to our schedule of charges on www.indusind.com Transaction alerts are free of charge.

Can I deregister from the balance alert service? What are the ways to do so?

If you wish, you can deregister from the service by calling up our 24x7 contact center or by giving a request at the nearest branch. You can also send a short code NBAL to 5676757 from your registered mobile number.The deregistration can also be done through net banking (Indus Net)

My/Our mobile is registered to receive balance alerts for more than 1 account. Will deregistration mean discontinuation of alerts for all accounts?

If you send NBAL SMS to 5676757 from your registered mobile, the alert service will be stopped for all the accounts against which the mobile is registered to receive alerts. If however you intend to discontinue the service on selected accounts please call up our 24X7 contact center or approach the nearest branch.

Will there be any charge for the service alerts received?

Service alerts like the alerts sent for recording of request /complaint or for informing the status of delivery of cheque book etc are free of charge.

What are the loan tenure options?

The tenure of the loan could range from 1 to 4 years (however the tenor can be increased based on the customer’s relation ship at the discretion of the Bank) for new car and 1 to 3 years for Used Cars

What is the quantum of finance one can avail?

We fund upto 85% of the Ex-showroom price of the vehicle which varies depending on the model

What are the lending rates?

The lending rates vary on the basis of discounts, which are offered by manufacturers and dealers. IBL has a tie-up with most of the manufacturers and authorised dealers and our sales team will help you negotiate the best deal on your car loan.

How is the interest charged/calculated?

Interest is calculated on a monthly reducing balance basis.

How do I approach IndusInd Bank for a Car Loan?

You can approach us in any of the following ways:

  • Call us at our 24 hour Customer Care Centre
  • You can just walk into any of our branches.
  • Contact any of our Vehicle Finance Division offices or Personal Products Division Offices.
Who can be the co-applicants for the loan?

Any individual who has the ability to repay the loan as per the bank standards residing in the same city can be taken as co applicant. This requirement varies from case to case and our sales team would help you out.

What security/collateral do I have to provide?

No additional security/collateral has to be provided apart from the car against which the loan is granted, which should be hypothecated to IndusInd Bank.

How do I repay the loan?

The loan can be repaid through post dated cheques drawn on IndusInd Bank Ltd

Do I need to open an account with IndusInd Bank for availing and/ or servicing the loan?

We will encourage you to start a banking relationship with us so that we will be able to offer a host of other value added services, which are complementary to the loan. However, opening an account with us is not mandatory.

If I am not able to furnish my income documents is there a special scheme for persons like me?

Yes, IndusInd Bank has tailor made schemes for persons like you. We offer funding without the income proof also.

Can I avail of a loan on my existing car?

Yes, The car should be hypothecated to IndusInd Bank after the loan sanction process before disbursement. We fund used car upto 5 years from the date of manufacture.

How much money can one receive under Money Transfer Service Scheme?

A maximum of US $ 2,500 equivalent in Indian Rupees, per transaction. For transactions where the amount is upto Rs 50,000 the Bank will pay in Cash. For transactions involving amounts greater than Rs 50,000, the amount will only be paid vide a Pay Order or Direct credit to Bank account of IndusInd Bank customers.

Is there a limit on the number of transactions under Money Transfer Service Scheme?

A beneficiary can receive a maximum of 12 transactions per calendar year under this service.

What are the various mode of disbursal available for beneficiary in India for Money Transfer Service Scheme?

The money can be paid to the Beneficiary either in Cash (upto a maximum of Rs 50,000) or by way of a Pay Order / direct credit to beneficiary’s bank account (incase of IndusInd Bank Customers).

Is it mandatory for the beneficiary to bank with IndusInd Bank in India to avail Money Transfer Service Scheme?

No, even a non-account holder can avail this facility from IndusInd Bank’s branches. However, it is beneficial for a person to hold an account with the Bank as the money can be conveniently deposited into the Bank account directly.

Can one use Money Transfer Service Scheme to send money back, out of India?

No, Outward remittance from India is not allowed under this arrangement.

What are the acceptable Identity documents that need to be available with the beneficiary to avail Money Transfer Service Scheme?

Following are the acceptable photo identity proof:

  • Valid Passport (with valid Visa for Foreign National)
  • Driving License
  • Pan Card
  • Ration Card (with photo)
  • Bar Association Card
  • Defense Personnel Identity
  • Election/ Voter Identification
Can the remittance request be sent by fax for Money Transfer Service Scheme?

Following are the acceptable photo identity proof:

  • Valid Passport (with valid Visa for Foreign National)
  • Driving License
  • Pan Card
  • Ration Card (with photo)
  • Bar Association Card
  • Defense Personnel Identity
  • Election/ Voter Identification
Can the remittance request be sent by fax for Money Transfer Service Scheme?

No, as of now, IndusInd Bank does not accept requests by way of fax.

What kind of payments are not allowed under Money Transfer Service Scheme?

Trade related remittances, remittances towards purchase of property, investments or credit to NRE / conversion to FCNR account / Donations, contributions to charitable organizations not allowed under this arrangement.

How can one contact the Bank to understand more about Money Transfer Service Scheme?

You can write to the Remittance Desk at remittance{}indusind.com and get more details about this service.

What is Cash-On-Mobile?

Cash-On-Mobile is a facility to remit Cash from Indus Mobile or from Indusind Bank ATMs (for registered Indus Mobile users) and disbursement of the cash by beneficiary is through Indusind Bank ATM

Typically to be used as an Emergency Cash feature, the solution enables the bank’s customers to transfer funds to the beneficiary who can withdraw the money from an ATM of the remitter’s bank (IndusInd bank).

What customers can remit of Cash-On-Mobile service?

Cash-on-mobile can be remitted by:

  • All Indus Mobile registered customers through their application (Other Services -> Cash on Mobile)
  • All Indus Mobile registered customers from an IndusInd Bank ATM by using their Indusind Bank Debit / ATM Card
To whom can funds be transferred?

Funds can be transferred to any individual irrespective of whether he holds a Bank account or not.

How does the remitter initiate Cash on Mobile transaction on Indus Mobile?
  • This channel is available only to registered mobile banking customers.
  • Cash-on-mobile option is available in Application.
  • When customer selects Other Services -> Cash on Mobile remittance through application menu, application prompts user to confirm the MPIN (Mobile Banking Pin)
  • Indus Mobile prompts the Remitter to enter the mobile number of beneficiary.
  • Indus Mobile prompts the Remitter to re-enter the mobile number of beneficiary.
  • Indus Mobile prompts the Remitter to enter the 4 digit secret number for this transaction and amount for the remittance
  • Indus Mobile prompts the remitter to enter the beneficiary’s name and address.
  • Indus Mobile authenticates the customer credentials as well as amount conformance to transaction/daily limits.
  • Cash-on-mobile server will send the transaction details along with a system generated 4 digit remitter pin to the beneficiary mobile number as well as a SMS to the remitter mobile number confirming his transaction initiation.
  • Remitter communicates the chosen Remitter PIN/ secret PIN offline to beneficiary
How does the remitter initiate Cash on Mobile transaction on Indusind Bank ATM?
  • Note that this channel is available only to Indus Mobile Registered customers of the Bank
  • Also note that the beneficiary name and address needs to be mapped against the beneficiaries mobile number for the transaction to go through. Hence only after the beneficiary has been sent a Cash-on-Mobile remittance using Indus Mobile can he initiate it from an IndusInd ATM to the same customer
  • Customer goes to IndusInd Bank ATM and inserts Debit Card and enters PIN
  • Customer selects the option Cash-on-mobile remittance
  • Customer is prompted to provide the following:
  • Beneficiary mobile number
  • Remitter PIN / 4 digit secret code
  • Amount to be remitted
  • Customer enters the above parameters and post validation of the customer’s eligible daily limits the transfer is processed
  • Once the transaction is accepted successfully, an SMS is sent to beneficiary mentioning the Cash-on-mobile remittance along with a auto generated 4 digit beneficiary PIN.
  • An SMS is sent to remitter informing the Cash-on-mobile initiation details have been accepted
  • The remitter needs to inform the beneficiary of the 4 digit beneficiary pin.
How does the beneficiary know that a Cash-on-Mobile transfer has been initiated /remitted to him?

Once the remitter initiates the Cash-On-Mobile transaction either through ATM or Indus Mobile, the beneficiary receives an SMS on the mobile number mentioned by the remitter

‘‘ Dear Customer you have received Cash-On-Mobile of Rs.500.00 From Mr. /Ms. Mukul Saxena. Your security code is 7234. Please visit any INDUSIND BANK ATM to withdraw 10/06/11’’

Is there any SMS received by remitter?

Yes the message is: Your Cash-on-Mobile txn of Rs. 500.00 is successful. Your remitter pin is 1234, you may convey this to the person you are sending the money.

Can the beneficiary withdraw Cash-On-Mobile at any Bank ATM?

No. The Beneficiary needs to visit Indusind Bank ATM to withdraw Cash remitted to him via Cash-On-Mobile

Does the beneficiary need an ATM/Debit Card to withdraw Cash?

The beneficiary can withdraw Cash even if he has a non Indusind Bank ATM/Debit Card or even does not have a debit card.

A beneficiary who does not have a debit card can use the “Cardless Withdrawal Cash-on-Mobile” option on the screen (ATM Screen Below)
The OFF-US card screen of the Indusind Bank ATM has option to withdraw Cash on Mobile. However the user needs to successfully validate his ATM/Debit CARD PIN and enter the main menu

How will beneficiary withdraw Cash from ATM for Cash-On-Mobile?

Beneficiary will invoke the withdrawal option either through OFF-US card verification or the Cardless withdrawal option. He will be prompted to enter

  • His mobile number
  • Remitter PIN (provided offline by remitter)
  • Security Code / Beneficiary PIN received via SMS
  • Amount (full or partial withdrawal can be done)

Once all these parameters are successfully entered, the Cash is dispensed by ATM .

What if the customer withdraws partial / lesser amount than remitted by initiator?

This can be done by inputting lesser amount. However Bank will define the expiry of transactions since it is of emergency nature

What is the expiry time of Cash-On-Mobile transaction?

The current expiry time is 1 day viz. 24 hours from the time the Cash on Mobile is remitted

What if the customer has not withdrawn the entire or partial / pending amount within the expiry time?

The amount that is not withdrawn till the expiry period will be auto-reversed / credited back to the remitters account.

CIBIL Expansion

Credit Information Bureau of India Limited

CIBIL is formed by

CIBIL is formed by Reserve Bank of India to cater the credit information requirement of the financials sector and provides an effective mechanism to monitor credit worthiness of a customer. CIBIL was promoted in 2000 and currently 20% of the shares are held by Transunion International inc and 80% by various financial service players in India including public and private sector banks and NBFCs.

Is CIBIL, the only credit bureau in the country?

No. CIBIL is the first Credit Bureau in India and there are few other Credit Bureaus (e.q.Equifax) are planning to start their activities soon.

What does CIBIL provide

CIBIL provides credit history and repayment track details of commercial and consumer borrowers.Commercial CIBIL is for partnership firms, Limited company, Society, HUF, any entity other than a non-individual.

A CIBIL report provides

  • Basic information about the borrower
  • Individual- name, address, Identification no, DOB, ID numbers
  • Commercial - their legal constitution, how many members involved, registration no
  • Record of credit facilities availed by the borrower
  • Past payment history
  • Amount overdue
  • Number of enquiries made on that borrower by different members
  • Suit filed status
  • Collateral or guarantees given by the borrower
  • Status of the loan incl. Writeoff, wilfull defaulter etc.
Does CIBIL data contain list of defaulters and delinquent accounts only

No. CIBIL collates data on all types of loan and credit card customers, whether they are defaulters or not. Thus the CIBIL has data on all borrowers irrespective of their repayment track records being good or bad.

Who provides Data to CIBIL

The members of the CIBIL provide the information to CIBIL. Nearly almost all major banks, financial institutions, non- banking finance companies operating in India are its members. The members of the bank update data into the CIBIL server details of all borrowers of loan and credit card on monthly basis. Thus it may be noted that, the data shared by members is not on “On line Real time” basis and always carries a time lag.

What type of loans are seen in CIBIL

All types of loan appear in CIBIL including overdraft facility, credit card facility and Cash credit facility, auto loan, housing loan, personal loan etc. Details of both individual and non-individual borrowers loan and credit data are submitted by members to CIBIL.

What are the data required to get a CIBIL report
 For Consumer CIBIL
(individuals)
a) Name
b) Address
c) Date of birth
d) Any identification numbers – Passport ID, PAN card, Voter ID, Telephone no. and very soon driving license, ration card and UID will also be accepted as identifiers

The CIBIL Report has a Report Control Number; which is a 9 digit unique number that helps CIBIL and the Report User to track an individual’s credit report. It comes with appropriate date and time stamping. The report is a consolidation of relevant data by CIBIL from its database for the said customer and it contains the latest data as reported by various Member Banks and Financial Institutions.

For Commercial CIBIL
(non-individual entities)
a) Name
b) Address
c) Legal constitution
d) Registration No
Can any one from public get a CIBIL report

An individual can obtain the CIBIL report from the member bank with whom he has applied for credit.
But now any individual can also get the CIBIL report directly from CIBIL. For this, you can access by sending the documents to CIBIL:

  • CIR request form
  • Identity proof – Your PAN/ Passport/Voter’s ID Copy duly self-attested
  • Address Proof
  • Fees as stipulated
Can a customer name be removed from CIBIL

No. The overdue which are remaining will be rectified only with proper payment history. The borrower should contact the creditor from whom you have availed the loan and request the necessary changes. The credit grantor will then report the change to CIBIL and we will subsequently make the necessary updates in our records. However the past delay will continue to be reflected in the CIBIL

How the banks read a CIBIL report
  • The report reflects the total sanctioned amount, amount outstanding and the overdue amount.
  • The days past due/asset category from the first upload date to the latest upload date reveals the history of the loan performance. The left had corner shows the latest upload data and the right had corner shows the earliest upload data.
  • Data could be in terms of no. of days due or standard/substandard/doubtful.
  • If the CIBIL report shows overdue, suit filed, written off and NPA, generally banks will not consider the proposal.
  • Loan enquiries are reflected in the last page of the CIBIL.
Whether all the loans of customer reflected in CIBIL

Yes. Even all closed contracts with historical track will be reflected if the same has been taken from the member banks.

How do we ensure there is no duplication or wrong entry in CIBIL?

The errors can appear in CIBIL report as they are matching the information based on the names. But the CIBIL rectifies on continuous basis on details like voter ID, Pan card etc. which is unique. For the CIBIL wrong entries the customer should contact the CIBIL to get the information from which bank it is appearing and concerned bank should rectify and send the same to CIBIL.

If the particular bank rejects the proposal based on CIBIL whether other banks also reject the proposal

Not necessarily. Different banks have different parameters for evaluation. So other banks may accept the proposal.

If a loan/ credit card application is rejected, will it be reflected in the credit report?

No. The credit report reflects only credit information reported by members for the particular borrower and listing of various enquiries made by members before sanctioning of any loans to the said borrower. Details of loan applications (whether approved or rejected) are not part of the credit report/ shared by members with CIBIL.

If a customer’s family member has defaulted, will it affect the credit standing or the customer’s status in the Credit Reporting?

Currently, the Credit Report has information of loan/ credit details of the borrower only and not that of his family members. Therefore, for a retail customer, it would not matter if someone in his family has defaulted in his loan obligations. However, if the borrower has stood guarantee or has been a co-borrower, in his Credit Report, details of such guarantee/ obligations would get reflected and to that extent, affect his individual credit standing too.

Whether IndusInd Bank would share its customers’ account-information with CIBIL?

Yes. According to the loan agreement with IBL signed by the borrowers, IBL is authorized to share the data with CIBIL or such other Credit Information Bureaus.

Whether all member banks update the loans with CIBIL

Yes all member banks/ Financial institutions upload data into CIBIL.

What benefit does a borrower get from CIBIL

If the credit history, score and track is good, it will enable faster loan process and competitive services at better terms from creditors

What are the information does not appear in CIBIL
  • Savings deposits a/c
  • Amount deposited in various account
  • Details of investments
How to apply for a credit card?

Please click here to compare various cards basis your requirements. Select a card that suits your needs and apply online. Please note that if your city is not featuring in the drop- down menu for city of residence, it implies that IndusInd Bank is yet to launch operations in your city. In that case we are sorry that you will not be able to apply for an IndusInd Bank Credit card. Alternatively, you can also call our 24-Hour helpline number 1860 267 7777 and apply for our credit card.

I have applied for a credit card. How long does it take to get the card?

The processing of credit card Application will take approximately 10 to 15 working days from the date all relevant documents are submitted as per the Bank's requirement.

How can I check the status of my credit card application?

You may call our Helpline number 1860 267 7777 to know the status of your credit card application. Once your application is processed, Bank will communicate the status through an SMS on the mobile number stated on your application form.

What is rate of interest on my IndusInd Bank Credit Card?

Please click here to know the interest rate applicable on your IndusInd Bank Credit Card.

Do all purchases attract an interest charge?

No, if your current balance is zero, you have a grace period of up to 50 days (on retail transactions) in which to make your payment. However, cash transactions attract an interest charge from the date of transaction till settlement date. Cash transactions also attract a transaction fee and applicable service charges.

Do I have the 'up to 50 days grace period' on my retail transactions if I am already revolving on my Credit Card?

No, the grace period on retail transactions is valid only if there are no out-standings on the Credit Card. If you are already revolving, then all fresh purchases will attract interest from the date of purchase

How are interest rates calculated on an IndusInd Bank Credit Card?

Interest is calculated on a daily basis on the current outstanding balance of the Cardholder. Interest is levied if Total Amount Due is not paid off by due date. Interest is also levied on all fee, charges, interest and service tax. Interest rate of 3.83% per month (46% per annum) will be applicable initially. The bank can at its sole discretion change the interest rate depending on factors such as, but not limited to, credit history, purchase patterns, payment behavior, loyalty and vintage of the customer. Interest charges are dynamic and are subject to change based on periodic review by IndusInd Bank.

How do I read my monthly credit-card statement?

Please click here to know more about your credit card statement. For Indulge statement, please click here.

How do I pay my credit-card bill?

To know the options available to make your IndusInd Bank credit card payment, please click here.

What is the auto-debit facility?

You can set up a standing instruction to pay either the minimum amount due or total amount due of your credit card statement.

  • Auto Debit facility: It is an instruction given by you to IndusInd Bank for debiting your IndusInd Bank account and make payment to your IndusInd credit card.
  • National Automated Clearing House (NACH) payment facility: You can opt to set up an NACH for payment of your card bills automatically from your other bank savings account.

To set up Auto Debit/ NACH for your credit card payments, please download this form and send it to us at the address mentioned on the form.

What should I do if my card is lost?

In the event that you lose your credit card, please report the loss to IndusInd Bank Phone Banking immediately. Alternatively, you can instantly block and replace your credit card on IndusNet/IndusMobile.

How do I protect my credit card against fraud or theft?

EMV Chip & PIN Credit Card provides you enhanced security for all your domestic and international transactions, in line with the best global practices on security of transactions. It provides an additional level of safety and security against counterfeit and skimming related fraud. The Cardholder must take proper care of the accounts held jointly or singly without giving Card and the Card Number and do everything any prior notice and the Cardholder hereby that is necessary to prevent the Card and the specifically authorises the Bank to do so. PIN from being lost, stolen or being misused.

How do I update my Mobile number/Email address?

Please call our helpline number 1860 267 7777 or logon to IndusNet to update your Mobile number/Email address.

Can I use my IndusInd Bank Credit Card for international transactions?

Yes, your IndusInd Bank Credit Card is a globally valid card that you can use for all your transactions that you make abroad. All globally valid cards are governed by usage restrictions, entitlements and other conditions stipulated by The Reserve Bank of India (RBI) or by any other Government Authority from time to time. Card transactions in Nepal & Bhutan shall be in the local currency or the Indian rupee.

What if I cross my credit limit?

The cardholder must not exceed his credit limit under any circumstances. In case, the cardholder exceeds his credit limit, the card holder must immediately make a payment to IndusInd Bank in lieu of all amounts in excess of the credit limit. In case, the cardholder exceeds the credit limit, the Bank will levy an over limit charge as declared from time-to-time in the schedule of charges.

Can my family members use my IndusInd Bank Credit Card?

No, your IndusInd Bank Credit Card is for your personal use only and cannot be used by any third person. However, you may gift an add–on card to your family members that can be used by them. All charges & payments for transactions made on add–on cards will have to be borne by you.

Chip & PIN Credit Cards

Basics/ EMV Chip & PIN Credit Card Technology

Why am I being issued an EMV Chip & PIN Credit Card?

According to the recent RBI Mandate, all customers who have used their Credit Card(s) Internationally (either E-Commerce, POS (Point of Sale) or ATM transactions) or any new issuance of Debit/Credit Card(s) effective 1st December, 2013 will have to be issued an EMV Chip & PIN enabled Credit Card.

What is EMV Chip & PIN Credit Card?

An EMV Chip & PIN Credit Card is a Credit Card with an embedded microchip. This microchip stores the Card member information and the PIN in an encrypted format. This PIN is known only to the Cardholder thus providing enhanced security against possible misuse.

The EMV Chip & PIN is a superior level of security on your Credit Card, in line with best global practices. It thus provides an additional layer of safety against counterfeit and skimming related fraud.

How is the EMV Chip & PIN Credit Card more secure?

EMV Chip & PIN Credit Card provides you enhanced security for all your domestic and international transactions, in line with the best global practices on security of transactions. It provides an additional level of safety and security against counterfeit and skimming related fraud.

I already have a Chip Card, how is this EMV Chip & PIN Credit Card different?

The EMV Chip & PIN Card stores the Card member information and the PIN in an encrypted format. The PIN will be known only to you and you need to enter the PIN at a POS terminal to authenticate and complete the transaction unlike your existing Chip Card.

Do I have to pay a fee to get the EMV Chip & PIN Credit Card?

There is no additional fee required to be paid for an EMV Chip & PIN Credit Card.

Can I decide not to take this EMV Chip & PIN Credit Card?

In accordance with the RBI directive and for the enhanced security of your Credit Card, we request you to accept the new EMV Chip & PIN Credit Card.

How does an EMV Chip & PIN Credit Card Work

How will the EMV Chip & PIN Credit Card work?

When you use an EMV Chip & PIN Credit Card at a POS terminal which is enabled for PIN Transactions, the POS machine will prompt you to enter a 4 digit PIN. Once you enter the correct Credit Card PIN in the terminal, your transaction will be approved.

Please follow the below process for a successful transaction:

Step 1: The merchant inserts your Credit Card in the Card slot at a PIN enabled POS terminal and enters the transaction amount

Step 2: The POS machine prompts for a 4 digit PIN to be entered by the Cardholder.

Step 3: On entering the correct Credit Card PIN in the machine, the transaction is approved.

At POS terminals, which do not support the PIN authentication, your EMV Chip Credit Card needs to be inserted in the Chip slot and your transaction will be completed as it is done today.

At POS terminals, which do not support an EMV Chip Credit Card, the Card can be swiped at the merchant terminal and your transaction will be completed as it is done today.

PIN related queries

Will I need to enter PIN at every POS terminal(s) be it Domestic or International?

If the POS terminal (Domestic or International) is enabled for PIN authentication, you will be asked to enter your PIN for successful completion of your transaction.

What if I enter an incorrect PIN?

You will be given 3 attempts to enter the correct PIN, post which your PIN will be blocked and your transaction will get declined. Please place a request to unblock your PIN or request for a new PIN at our helpline number 1860 267 7777.You can also reset your PIN instantly by logging on to the IndusInd Bank Netbanking portal.

What if I have forgotten my PIN?

If you have forgotten your PIN, please logon to the IndusInd Bank Netbanking portal to generate it instantly or request for a new PIN at our helpline number 1860 267 7777

How will I receive my PIN?

At the time of issue of your EMV Chip & PIN Credit Card, your PIN will be dispatched to you separately. Please use this PIN at POS terminals to complete your transactions and at the ATM to withdraw cash.

Will I receive my Credit Card plastic and PIN together?

No, the Credit Card and the PIN will be dispatched to you separately.

Can I use this PIN for Cash withdrawals as well?

Yes, you can use the same PIN for cash withdrawals as well.

How can I change my PIN?

You have the following options to reset your PIN

Option 1 You can reset your PIN instantly using the IndusInd Bank Netbanking portal. Please logon to your IndusNet account and follow the process to reset your PIN

Option 2 You can also place a request to dispatch the PIN at your mailing address by calling our helpline number 1860 267 7777.

Please note that the PIN change/reset/regeneration functionality does not exist for IndusInd Bank American Express Credit Card holders. In case, you have forgotten the PIN, please call the helpline number for further details

Additional Details

I have two Add-on Credit Card(s), will they also get EMV Chip & PIN Credit Card?

Yes, all linked active Add-On Cardholders will also be issued an EMV Chip & PIN Credit Card

Will the PIN be different for the Add-on Credit Card holders?

Yes the Add-on Credit Card(s) will have a different PIN.

If the Add-on Credit Card holder has forgotten or lost their PIN, can they use the Primary Credit Card holder PIN to complete the transaction?

No, the Add-on Card holder needs to enter their own PIN. The transaction will get declined if they use any other PIN.

OTP Credit Cards

What is an IVR transaction?

Interactive Voice Response i.e. IVR transactions are transactions that you carry out over the telephone where you provide your Credit Card number on an automated system to make payment to the vendor for purchase of goods, services etc. e.g. Account recharge on a TATA SKY helpline.

What is the Process to generate One time password (OTP) for IVR?

Please call our helpline number 1860 267 7777 to generate OTP for IVR transactions.

How do I use an IVR OTP?

You would be required to enter your IVR One Time Password (OTP), in addition to your IndusInd Bank Credit Card credentials, when prompted by the merchant IVR.

What is the process to generate One time password for e-commerce transactions / Register for IBL e-Secure/OTP?

Please click here for details.

For how long is an IVR OTP valid?

An OTP generated once is valid only for 1 successful transaction or 2 hours whichever is earlier. You will need to generate a new OTP for every new transaction.

What is the IndusNet - Online Payment service?

IndusNet - Online Payment is an online payment facility that facilitates payments linked to Merchant Websites. The Bank offers this facility to its customers for transactions requiring online payment service such as e-shops, online share trading, ticketing, etc.

Which are the e-shops where I can transact?

Click here to view the e-shops where you can transact.

Registering for IndusNet - Online Payment Service

To activate your IndusNet User ID and Password for Online Payments please update your e-mail ID using the internet banking service IndusNet. Your IndusNet Login ID and Transaction Password will be activated for Online Payments within 48 hours.

When do I start using IndusNet Online Payments?

The Bank will advise you by email about the activation of your Online Payments and then on you can transact online through IndusNet Online Payments.

Do I need to open any new account for Using IndusNet - Online Payment Service?

You can use your existing IndusInd Bank accounts for this purpose.

Which customers can use the IndusNet service?

IndusNet Online Payments service is available to all IndusInd Bank Customers - Individuals and Sole Proprietors.

How do I change or cancel my payment Instruction?

A payment instruction once given is irrevocable and cannot be cancelled. You will have to liaise with the Merchant directly.

What is the proof of the payment made?

On every successful payment the Merchant receives a confirmation of the payment. These transactions bear a unique reference number, which is included in your bank statement. You also receive an e-mail confirming the transaction.

How and when is my bank account debited?

Your bank account is debited immediately when you confirm for the payment to the Merchant.

What happens if I have a dispute with the Merchant regarding the product?

In case of any dispute you will need to liaise and settle with the Merchant directly. The Bank will assist you with the payment confirmations.

Are all transactions done through IndusNet Online Payments safe?

The security and confidentiality of your personal and financial information is of paramount importance to us. You are provided with best-in-class security standards when it comes to using the IndusNet service so that your transactions done are safe.

How does this work?

E-Remit through Union National Bank, UAE


www.unb.ae
Click on Uninet on the right hand side
Click on Retail Customers.
Type your UNB A/c No and 6 Digit TPIN Passwords.
Press on Maintenance
Click on Beneficiary Set up and Click On ADD
Give all the Details of IndusInd Bank
Press confirm and it will take 24 hours to add, one of our officer will call from Phone banking to confirm the same

The above procedures should be done only for the first time after that you can straight go to the Transaction Menu. After the approval from the Phone Banker if you want to transfer the money from UAE to India.

Press on transactions and select transaction to other A/c outside UAE.
Automatically it will show your IndusInd Bank Amount.
Confirm the amount and click Confirm and the amount will credit to your Indian Account within seconds.

Who is eligible to use E-Remit facility?

E-Remit through Doha Bank, Qatar
Non Resident Indians based in Qatar are eligible for this facility

E-Remit through Union National Bank, UAE
All Union National Bank Account Holders

How can an NRI based abroad use it to send Money?

E-Remit through Doha Bank, Qatar
You may visit any Doha bank branch in Qatar fill up a simple form.
For Doha Bank customers it can be done online through Banks website (www.dohabank.com.qa) from the comfort of your home.

E-Remit through Union National Bank, UAE
By logging in to Internet banking of Union National bank - UNINET

Which accounts in India can the money be sent to?

Money can be transferred to any accounts held in India

What are the Charges for using E-Remit service?

E-Remit through Doha Bank, Qatar
Qr.10/- for online and e-branch remittance and Qr.15/- for Branch remittance per transaction.

E-Remit through Union National Bank, UAE
For Indusind Bank customers – FREE
For Other bank customers – AED 5/-
If a customer walks into any UNB branch and doing the transaction over the Counter the charges will be AED 80/-

What Exchange rates are used while remitting the money? Where do I get to know about the rate?

E-Remit through Doha Bank, Qatar
The rates are updated by Doha Bank on their website on daily basis. You can view this rate on www.dohabank.com.qa

E-Remit through Union National Bank, UAE
Card Rates are used and it is available on the website of Union National Bank

How much time does it take for the money to reach my beneficiary’s account in India and are there any charges deducted from beneficiary’s account?

E-Remit through Doha Bank, Qatar
If the beneficiary's account is IndusInd bank account then the service is FREE and the account is instantly credited.
If the beneficiary's account is other than IndusInd bank account then there is charge of Rs.70/- plus service tax is applicable and the account is credited within 24 hours.

E-Remit through Union National Bank, UAE
IndusInd Bank – Real-time
Other banks – 2 days

How much money can I send in each transaction?

E-Remit through Doha Bank, Qatar
Maximum Limit per transaction is up to Qr. 50,000 /- including charges

E-Remit through Union National Bank, UAE
Maximum AED 50,000/- per day to one beneficiary account

Is there a limit on the number of transactions I can do?

E-Remit through Doha Bank, Qatar
No, but there is a limit for the amount to remit per day (Qr.50,000/- including charges)

E-Remit through Union National Bank, UAE
Unlimited transactions with a Maximum of AED 50,000/- per day to one beneficiary account

How many Beneficiary accounts can I link to the remittance account?

Any number of beneficiaries can be added to the remittance account

What type of bank accounts can I link it with?

E-Remit through Doha Bank, Qatar
NRE/NRO and ordinary resident accounts can be linked

E-Remit through Union National Bank, UAE
Current & Savings account

Can I change my beneficiary at a later date?

E-Remit through Doha Bank, Qatar
Off course you can add/delete the beneficiary

E-Remit through Union National Bank, UAE

Yes, after approval from UNB - Phone Banker

What are the various mode of disbursal available in India through this service?

E-Remit through Doha Bank, Qatar
Only account transactions are available through this service

E-Remit through Union National Bank, UAE
Only direct credit to account

Is it mandatory for the beneficiary to bank with IndusInd Bank in India to avail this facility?

E-Remit through Doha Bank, Qatar
No, but it is advisable for an Instant credit

E-Remit through Union National Bank, UAE
No any bank customer in India can avail this facility

Can the remittance request be sent by fax?

E-Remit through Doha Bank, Qatar
No, Customer has to submit original request form.

E-Remit through Union National Bank, UAE
Yes, after providing request & indemnity letter - it is chargable of AED 80.

Whether I can open a NRE/NRO account from Qatar

Yes, an NRI can open NRE / NRO account from Qatar.

Whom should I contact to get assistance about this product?

Please contact our officer

E-Remit through Doha Bank, Qatar
Mr. Osman Hussain
Manager –NRI Services
International Relations Centre
Doha Bank
P O Box: 3818
Doha, Qatar.
Email – ohussain{}dohabank.com.qa
Ph: 00974 4456912

E-Remit through Union National Bank, UAE
E-mail: www.unb.ae
Local Call Centre No: 8002600
Local Address:
Union National Bank
UNB Building
Salam Street
P.O. Box 46136
Abu Dhabi, UAE Tel: 02-6741600 Fax: 02-6795806

How do I register and make payments through IndusNet - Bill Payment?

Once a customer is registered for the Internet Banking, he is automatically registered for the Bill Payments service. You will have to add billers to receive alerts on Bill Payments. Please ensure that the biller registration details entered by you are correct to enable the billers to raise your bills.

What is IndusNet - Bill Payment Service?

IndusNet - Bill Payment Service is an extremely simple, convenient and secure way to view and pay your bills online. You can view and pay your electricity, telephone, cellular, insurance and other bills using your IndusInd Bank Account. You can do all this from the comfort of your house or office, over the Internet - any time, any place.

What are the benefits of IndusNet - Bill Payment Service?

IndusNet - Bill Payment Service helps you to keep track of your payments to utility service providers. Payments are made quickly, conveniently and efficiently. You will also receive Alerts for Payments due and confirmation of Payments made successfully.

Will I get any confirmation regarding the registration for IndusNet - Bill Payment?

You will get an immediate e-mail confirmation following your successful registration. You can start adding billers into your account.

How many billing companies, can I register for?

There is no restriction on the number of billers that you can register for as long as the biller is from the list provided.

When can I start paying my bills through this facility?

Subject to correct submission of the biller details by you, all your future bills that are raised within 2 weeks of your biller addition date, will start getting raised in your account. Incase any of your biller addition gets rejected you will be able to view the status when you log in.

How will I know that my bill has been received at IndusNet - Bill Payment?

You will receive an e-mail/sms alert every time your bill is received. Login into your account, check the amount and make a payment by clicking on the Instant Pay button.

Which account can I use to pay my bills?

You can use any of your IndusInd Bank Accounts available.

Is there a fee?

This facility is being provided to customers free of cost.

By when should I make my bill payments?

To ensure that your payments arrive before a due date and to avoid late payment charges, you need to make your payment at least 3 working days before the bill due date.

Can I pay bills after their due date?

The biller specific terms are clearly indicated on the biller page when you are validating the Instant pay screen . Please adhere to them strictly. Where billers do not entertain late payments, any payment made by you after due date is liable to be rejected by the biller with attendant penalties.

Once I pay the bill, when will my account get debited and when will the utility company receive my payment?

On payment of the bill your account will get immediately debited online and the payment is sent to the utility company by the next working day. The same will get credited to your utility account in 3 working days time.

Can I pay someone else's bills?

Yes, you can pay someone else's bill through IndusNet - Bill Payment.

What proof of payment do I have when I pay through IndusNet - Bill Payment?

When your payment has been successfully made, you get a reference number for your transaction. Your IndusInd Bank Account account statement will also include the details of your transaction under Instant pay transaction. This amount will be inclusive of the processing fee charged for each transaction.

Is there a limit on the size of a payment I can make?

IndusNet - Bill Payment transactions will be counted towards your Daily Funds Transfer Limits on IndusNet. You will not be able to execute Bill Pay Transactions after the Daily Funds Transfer Limit on IndusNet has been exceeded.

Will I still receive my physical bill?

You will continue to receive your Physical bill even after registering for the service with us. How do I stop a payment after it has been made? IndusNet - Bill Payment instructions once submitted online cannot be revoked. You should contact your biller

What are the risks I should be aware of?

Invalid payments: It is your responsibility to ensure that Biller, payment and IndusInd Bank Account details provided by you to are accurate and complete. The payment will be processed solely basis the payment details you enter and confirm. If the details entered by you are incorrect or not as per the terms specified by the biller, then even though your payments may be successfully processed at View & Pay the biller may reject them. is not responsible for delays in processing of payments or rejections by your biller caused by your failure to provide us with accurate bill related information. You will be responsible for any additional fees and charges levied by either your biller or Biller in the event of a declined View & Pay payment. In the event of a declined payment, your bill will remain unpaid.

Is IndusNet - Bill Payment secure?

IndusNet - Bill Payment employs the best-in-class security so that the transactions done through the IndusNet - Bill Payment service are secure. IndusNet - Bill Payment uses Secure Socket Layers (SSL) data encryption. Using SSL ensures that the information you exchange with IndusNet - Bill Payment is never transmitted over the Internet unencrypted and cannot be viewed by unauthorized individuals. IndusNet - Bill Payment uses SSL to protect users from unauthorized tampering or viewing of their account and billing information. This encryption is done using 128-bit RC4 encryption.

Am I eligible to use the Indus Fast Remit service?

Any adult (18 years of age and above) having an active US Bank account is eligible for using this service.

Why do I need to enroll a beneficiary?

You only need to enroll one beneficiary during the enrollment process and this is performed as part of the security of our system.

Can I enroll more than one beneficiary?

Yes, after you complete the initial enrollment you can add as many beneficiaries as you would like.

How long does it take to receive the two sub-dollar credit payments?

The process can take up to three business days, but quite often if you have online access to your statement you can access the payment amounts the next morning.

Why are you sending me two sub-dollar credit payments?

This process is used to validate ownership of the account. We do this to protect your security and prevent fraudulent activity.

Can I use more than one bank account?

Yes, after you complete the enrollment you will be allowed to enter as many bank accounts as needed.

How do I get the beneficiaries information for enrollment?

You will need to contact the beneficiary in order to receive this information. If you reach the point in the application where you need this information you can save your work by click on “Save as Draft” and you will be allowed to return to the application and enter your username and password and complete the enrollment.

How long will it take to complete the enrollment?

It can take as long as 3 days and as short as 1 business day depending on how long it takes for the sub-dollar payments to post to your account.

How do I find the sub-dollar payment amounts that were sent to my account?

In order to find the sub-dollar payment amounts you will need to access your bank statement. The fastest way to accomplish will be to access your statement online and retrieve the amounts.

It has been at least 4 full business days since I submitted the payment and the beneficiary has not received the money?

In order to reply to your request in the most efficient manner you should look up [link to transaction history] the individual transaction in dispute and click on the non-receipt link and complete the form. This will electronically submit your request directly to the operations group that delivers the payment to the beneficiary and they will respond with an answer to your request.

It has been less then 4 full business days since I submitted the payment and the beneficiary has not received the money?

Due to international holidays, different time zones and different processing schedules it requires four full business days to apply the money to the beneficiary's account. Unfortunately we cannot accept any non-receipt claims until after the expiration of the four business days. If after four business days the payment has not been received please access the transaction on the Web site and click on the non-receipt link to electronically file a claim.

It has been at least 3 full business days since I submitted the non-receipt claim online?

If you have received a refund for your transaction then you will need to contact the beneficiary to verify that you have the accurate account information and then submit your payment again. If you have not received a refund for your transaction and the beneficiary has not received the money then you will need to contact us by calling 5052170975(10 AM to 6 PM EST).

It has been less then 3 full business days since I submitted the non-receipt claim online?

Due to international holidays, different time zones, and different processing schedules it requires 3 full business days to respond to non-receipt requests. Our customer team thoroughly investigates all non-receipt claims to resolve any discrepancies and they will respond to you via email as soon as they complete their investigation.

Why was the money I tried to send returned to my account?

The reason the money was refunded to you was because we were unable to locate the beneficiary's account. It is very important that you check with your beneficiary and confirm their account information matches the account information you have stored in our system. After you have successfully confirmed this information and updated the beneficiary profile on the Web site please try to send your payment again.

I have a transaction that is marked as Failed?

The transaction failed because we were unable to debit the money from your U.S. Bank account. This usually happens when there are insufficient funds to cover the debit. You should confirm that the money has not been debited from your account and then check to see that you have sufficient money to cover the payment amount. If you have sufficient money in your account you can create the transaction again.

I sent a payment to a beneficiary and now I want a refund?

A refund will only be processed in cases when the money you sent could not be delivered to the designated beneficiary. If the money has been successfully delivered to the beneficiary you will need to contact the beneficiary and request that they refund the money to your account.

I have received a refund for my transaction but the amount is different.

This is because your transaction amount has been reconverted from INR to USD at the exchange rate prevalent at the time of this reconversion.

I want to reissue a transaction that had been returned earlier.

You could re issue the transaction that had been returned earlier after the required amendments. This transaction will be treated as a fresh transaction and all charges pertaining to transactions would be applicable. Additionally, a charge of USD 5 would be levied in the US.

There has been a charge levied although the service is free.

There are no service charges for this service. However as per Indian regulations a Foreign Currency Conversion Tax and Service Tax has been deducted from the beneficiary account. This is a small deduction of INR 25 per transaction deducted from the final beneficiary amount.

How do I cancel a future payment?

In order to cancel a future payment you must go to the manage beneficiary page and select ?edit? the beneficiary that is receiving the recurring payment. From this edit page you will be able to modify or cancel your instructions.

Why does it take at least 3 days to receive the sub-dollar credits in my account?

This delay is due to the payment network that is used to transmit the funds. This payment network requires at least 24 hours to make funds available. This can sometimes take up to 3 days depending on your financial institution.

Why do you send me two sub-dollar credits in order to set up a new financial account?

This is to protect the security of your relationship with us. The two sub-dollar credits are sent to the account registered as the sender’s account. To verify that only an authorized party of that account has access to the data, we require you to confirm the amounts issued. This ensures that only you or an assignee on the account has access to your data.

How many months of transaction history is available through the Web site?

We maintain 12 months of payment history on the Web site. We will maintain an offline history that may also be requested if the need arises.

Why do some transactions allow me to file a non-receipt and others do not have the option?

You cannot file a non-receipt claim until the transaction has been successfully received from your U.S. Bank. This delay can be due to international holidays, different time zones, and processing schedules.

What is the availability date mean?

This is the date the funds should be available to the beneficiary. We cannot always guarantee this date because of different time zones, country holidays and general processing schedules. This should serve as a guideline for availability of funds. Please contact your beneficiary to confirm receipt.

What happens if I change my financial account if I have future payments scheduled?

When you change your financial account all of the future payments associated with that account are canceled. In order to continue with the future payments you will need to access each beneficiary with future payments and modify the financial account to reflect the new account. We advise that you add your new account before deleting the old account so that you can associate any future payments with the new account and then delete the old account.

How do I use the rate calculator?

The rate calculator is used for informational purposes only. The rates in this calculator do not represent the actual rate that will be applied to your transaction. This calculator provides an approximation. You can submit either the USD or Local Currency amount to see an approximation of the corresponding amount.

How long will it take until the beneficiary can receive the money?

A beneficiary can receive payment on the third day following the initiation of your instructions. For payments through the local clearing or through check there may be an additional delay depending on the time it takes for the delivery of funds.

How much does it cost to transfer money?

The service fee for each transfer is dependent on the payment method you choose. Available methods include:
Cheque: $ 0.00
Direct Deposit: $ 0.00
Electronic Deposit: $ 0.00

Does the beneficiary have to pay anything to receive the money in his account?

This would be as per the policy of the beneficiary bank in which the account is maintained.

Is there a limit to the frequency or value of the transfers that I can make?

Yes there are limits for how much you can send for each payment method.
Amounts:
Yes, there are limits set up for the safety of your transactions as follows:

  • Per Transaction limit of - $5,000
  • Monthly limit $30,000.00 as a total of all transactions in a month.
  • A single enrolled beneficiary could receive 3 credits on a day.
  • Maximum number of transactions per day to all enrolled beneficiaries are 5.
  • Maximum number of transactions per month to all enrolled beneficiaries are 10.
How do I cancel a transaction?

Instructions that have been issued for immediate single transfer may not be cancelled once confirmed. Payment requests for future dates may be cancelled prior to the transaction date.

How many beneficiaries can I enroll?

There is no limit to the number of beneficiaries that you can enroll. Please note you may not exceed the monthly transaction limit for the total of beneficiaries enrolled.

Can I enroll more than one bank account?

You may enroll more than one bank account for the purpose of issuing transactions. You can structure your payments so that any beneficiary may receive funds from the various accounts you have enrolled.

I want to block my account as I believe that my password has been leaked ?

We advise frequent changing of the password and maintaining total secrecy about your login details to prevent any password misuse. In case you need to block your account , just send us a mail through the e mail id that you had registered with us on fastremit{}indusind.com or call us on our call centre numbers. The registered id would be disabled within 15 working days of receipt of the request. You could also delete your account online if you are able to login to Indus Fast Remit. We also recommend that you immediately inform your Bank in the US whose account has been registered for this service to prevent any wrongful debits.

Who can I contact if needed?

If you are in U.S. and you are looking for assistance on how to transfer money, call our customer service representative at 5052170975 10 AM to 6 PM EST). Alternatively, you can send your inquiries at fastremit{}indusind.com

Which bank in the US manages the Automated Clearing House (ACH) mechanism for the Indus Fast Remit service?

Bank of New York, Mellon, USA manages the ACH portion of this service.

Are then any special requirements when using the site for making donations to India?

In case of donations, please ensure that the association is registered in India under The Foreign Currency Regulation Act.

Where can I get further information on Foreign Exchange regulations in India?

Information on the Foreign Exchange Management Act (FEMA) can be obtained on the URL: http://www.rbi.org.in/scripts/Fema.aspx

What is Speed Remittance ?

Speed Remittance (SR) is a web based secure application made available by IndusInd bank for partner exchange houses to send cross border money transfer instructions.

Who can use Speed Remit ?

Speed Remit is only meant to be used by exchange houses (EH) that have partnered with IndusInd bank under Rupee Drawing Arrangement. To partner with IndusInd bank, send your application to

Global Remittance Department
IndusInd Bank Limited,
701 Solitaire Corporate Park,
167 Guru Hargovindji Marg,
Andheri (E), Mumbai – 400 093

Are there any charges for using Speed Remit?

Speed Remit is offered free of cost to partner exchange houses

What are the security features of Speed Remit?

Indus Speed remit users are authenticated by User ID and password transmitted from the client browser using a 128-bit encrypted HTTPS session. User passwords are encrypted while being transmitted and compared to a stored encrypted value in the database. If the user-supplied password does not match with the stored value the user is denied access to the system and will be given an error message describing why it failed. The application enforces locking of the user account after a number of incorrect login attempts specified by the Bank. At present 4 wrong passwords will lock the user out. The user then has to contact his Administrator to unlock and allow him to access the system. Each user is allowed to access the system from only one session at a time. In case the user does not logout and closes the browser directly his ID will be locked till an administrator logs him out. In view of the high security involved if a user session is left inactive for some time the user session will be timed out and the user will have to login again.

What are the types of users in Speed Remit and what are their access levels ?

There are three user types provided to partner exchange house. Their roles are as follows:

Administrators – There are two administrator user ids provided to partner exchange house. Using these administrator ids the exchange house can create multiple teller and supervisor users to access Speed Remit. Following are the rights available with exchange house admin:

  • User administration
  • Activate users
  • Log out Users
  • Unlock users
  • Beneficiary Maintenance
  • Remitter Maintenance
  • Reset Password

Tellers – Input transactions in Speed Remit and can access reports. Tellers can also modify transactions that have not been authorised.

Supervisors – Authorise or decline transactions that have been entered by the tellers and access reports.

Can the balance in the EH account maintained with IndusInd bank be viewed through Speed Remit?

Yes, Speed Remit is linked to IndusInd Bank’s core banking platform to provide the partner exchange house the convenience of checking their account balances.
This can be accessed in Speed Remit through:
Menu > Account > Balance enquiry

Can the user check if the account number of the beneficiary is correct?

Yes, using the account enquiry option of Speed Remit, the correctness of the IndusInd account can be checked.
This can be accessed through:
Menu > Account > Account enquiry

What are the disbursement modes in Speed Remit?

Speed Remit is capable of handling 4 disbursement types

  • Electronic Fund Transfer - IndusInd Bank Account.
  • Electronic Fund Transfer - Other Bank (RTGS).
  • Electronic Fund Transfer - Other Bank (NEFT).
  • Demand Draft.
What are the disbursement currencies in Speed Remit?

Speed Remit permits only Indian Rupee disbursements.

What are the permitted purpose of remittances in Speed Remit?

As per regulatory requirements, Speed Remit can be used only for ten permitted purpose of remittances. For ease of use they have been codified as follows:

Code Description
P101 Credit to Non-resident (External) Rupee accounts maintained by Non-resident Indians in Indian Rupees
P102 Payments to families of Non-resident Indians
P103 Payments in favour of Insurance companies, Mutual Funds and the Post Master for premia / investments
P104 Payments in favour of bankers for investments in shares,debentures
P105 Payment to Coop. Housing Societies, Govt. Housing Schemes or Estate Developers for acquisition of residential flats in India in individual names subject to compliance of regulations thereof by the Non-resident Indians
P106 Payments of tuition/ boarding, examination fee etc. to schools, colleges and other educational institutions
P107 Payments to medical institutions and hospitals for medical treatment of NRIs / their dependents and nationals of Gulf Countries in India
P108 Payments to hotels by nationals of Gulf countries / NRIs for their stay
P109 Payments to travel agents for booking of passages of NRIs and their families residing in India towards their travel in India by domestic airlines / rail, etc.
P110 Trade transactions
What are the PIN types in Speed Remit?

As per regulatory requirements in India, the remitters Personal Identification Number (PIN) needs to be provided for each transaction. The PINs have been codified in Speed Remit as follows:

Code Description
1 Passport
2 DRIVING LICENSE
3 ID CARD
4 VOTER CARD
5 LABOUR CARD
Is there any transaction reference number in Speed Remit for ease of tracking a transaction ?

Yes, SR generates a unique reference number for each transaction. Further exchange house can also provide a unique reference number for each transaction in a alphanumeric format.

What is the maximum amount for each transaction that can be transferred through Speed Remit?

The maximum amount accepted by Speed Remit for each transaction is INR 999,999,999,999.99

I have regular customers that have fixed beneficiaries to whom money is routinely transferred. Does Speed Remit store the details entered once so that the same does not have to be entered again?

Yes, Speed Remit is capable of retaining the customer’s details to provide the convenience of retrieving these at a future date. The Remitter and Beneficiary code option can be used for retrieving these details in case it is already stored in the system. These codes can be allotted to the remitter and the beneficiary using the Remitter / Beneficiary maintenance option. In case the Remitter / Beneficiary details are stored then on entering the Remitter /Beneficiary code and on clicking “Get Details“ button the values stored in the master are retrieved and the page gets populated with the stored values.

Is there an upload facility in Speed Remit?

Yes, there is a bulk upload facility in SR as per a fixed format.

How does one know if a file has been uploaded properly in Speed Remit?

On uploading a file in Speed Remit, the status is displayed as follows:

  • Error - The file uploaded has errors.
  • In Process- The file uploaded is in process and user may need to wait foe a few minutes to check the status.
  • Successful- The file has been uploaded successfully.
  • In Queue – The file has been uploaded and is in queue for processing. User may need to wait for a few more minutes to check the status.
What is the password policy for Speed Remit?

At the time of first login the system will redirect the user to password change page as a security precaution. User can login in to the system after successfully changing the password.

  • Error - The file uploaded has errors.
  • In Process- The file uploaded is in process and user may need to wait foe a few minutes to check the status.
  • Successful- The file has been uploaded successfully.
  • In Queue – The file has been uploaded and is in queue for processing. User may need to wait for a few more minutes to check the status.
What is the password policy for Speed Remit?

At the time of first login the system will redirect the user to password change page as a security precaution. User can login in to the system after successfully changing the password.

  • The password should be minimum 8 characters and Maximum 10 characters.
  • Password should be alpha numeric.
  • Password should start with alphabet and at least one numeric character.

Passwords expire in 45 days for enhanced security

What is an exchange house id?

This is the unique id of an exchange house. System automatically picks the exchange house id of the user who is logged in and displays this on the top page.

What are the reports that can be accessed through Speed Remit?

Various report options are available in SR basis the disbursement type, date ranges and status of transaction.

I do not know the IFSC for a bank branch. Can I get this from Speed Remit?

Yes, Speed Remit can provide you the IFSC of any electronic credit enabled bank branch in India. This can be accessed through
Menu > Queries >IFSC Search

I want to change my password. Can I do this myself?

Yes, the password can be changed by the user through:
Menu > General > Change Password

I do not see any screen after logging in to Speed Remit?

For security reasons, after logging in, the Speed Remit application opens in a new window. This would not take place if the pop up blocker has been enabled in your PCs internet browser. The pop up blocker can be disabled in Internet Explorer through the below path:
Tools > Pop up blocker > Turn off Pop up blocker

Who can register for IndusNet?

All customers of IndusInd Bank having either Savings or Current account, operated on either or survivor / anyone or survivor basis, can register for INDUSNET.

Will I be charged for availing IndusNet?

No, IndusNet service is absolutely free. Certain services on IndusNet are available at discounted rates.

How can I register for IndusNet?

There are multiple ways to register

  • Register online using your Debit cum ATM card by  visiting www.indusind.com and clicking on “Register Now” link.
  • You can also place your request on our ATMs whenever you do any transaction
  • You can also You may call our contact center on numbers given in the Contact Us section or 
  • You may visit our Branch.
What are the services that need a Transaction Password?

The following are the services offered through IndusNet:

Funds Transfers

  • Transfer funds within your accounts
  • Transfer funds to other within IndusInd Bank
  • Transfer funds using RTGS/NEFT
  • Transfer to other Visa cards

Utility Bill Payments

  • Manage your utility bills - registration and payments
  • View your utility bill history
  • View your utility bill payment history
  • Make payments online
  • Set automatic payments for bills
  • Receive alerts on bills presentment
  • Receive alerts on payments
  • Receive alerts on your e-mail ID and mobile

Requests

  • Request for cheque books 
  • Book fixed deposits
  • Request for a Demand Draft
  • Stop payment of cheques 
  • Report lost cards and request for replacement
  • Register for e-statements 
  • Register for Mobile alerts
  • Update contact details like phone numbers and e-mail ID
  • Receive alerts on change of balance, change of exchange rates & transactions above threshold values

Online Payments

  • Shop online using your internet banking user ID.
Is IndusNet an Online Service?

Yes, IndusNet is a Real-time Online Service for all account enquires. All Requests, Notifications & Visa Credit Card Bill Payment transactions are offline.

What are benefits of using IndusNet?

IndusNet is available 24/7. It can be accessed from anywhere in the world. Most of the services come to you free of charge (*except for courier charges/bank charges wherever applicable)

What are the basic requirements for using IndusNet?

You need to have a Personal Computer with a browser i.e. Internet Explorer version 5.5 or more & Netscape Navigator version 6 or above

What is a Transaction Password?

A transaction password is another leg of security which protects you. The transaction password needs to be used to carry out Funds Transfer, Utility Bill Payments, Online payments and any other financial transactions. It should also be used to request for any available service or for sending a message to your Personal Banker.

How do I change my Login and Transaction Password?

On successful login, select the 'Preferences' option on the left hand side menu. It will prompt you the steps to change your Passwords.

What should I do if I forget my Login Password?

If you have forgotten your Login Password, select the 'Forgot Password' link on the IndusNet login page. You can reset your password using your Debit-cum-ATM Card and Pin.

What should I do if I forget my Transaction Password?

On successful login, select the 'Preferences' option on the left hand side menu. It will prompt you the steps to change your Passwords.

Why I am not able to Login to IndusNet?

You must have either typed your Login Id or Password wrongly. Please try again with the correct Login Id or Password. Alternately, you can write to reachus{}indusind.com from your registered email address or you can call our contact center toll free on 1860 500 5004 (for BSNL and MTNL subscribers) or 022 44066666.

What should I do if the Password received is not legible / in a tampered condition?

You should immediately refer to your base branch for re-issue of new Password. Our branch officials will arrange for a new set of passwords or speak to our Customer Care Executives on the below mentioned numbers.

What should I do to block my Login ID?

To block your Login-ID, kindly contact your base branch with written instructions. Alternately, you can write to reachus{}indusind.com from your registered email address or speak to our Customer Care Executives on the below mentioned numbers.

What should I do if the screen is not moving to the next page?

Please wait for sometime and allow the transaction to complete. Do Not Refresh the page as it may lead to re-submission of the transaction. In case you've submitted a request, check the status of the request placed by you under 'Track Requests' option under Services. In case you have processed a financial transaction using the Funds Transfer option, kindly check your statement of account before processing the transaction once again.

For any banking / service queries please feel free to call our Customer Care Executives on our Toll Free number 1860-500-5004 (for BSNL and MTNL subscribers) or 022-4406 6666.

Security Tips for Internet Security

We at IndusInd Bank have made all efforts to ensure your security. Listed below are some tips to ensure more security.

  • Change your transaction password on your first login.
  • Change your transaction password at least once a month
  • Destroy the transaction password after memorizing it
  • Don't disclose your transaction password to anyone.
  • Do not hand over your ATM/Debit Card to anyone.
  • Choose transaction password that are difficult for others to guess
  • Use both letters and numbers and a combination of lower case and capital letters in your transaction password.

Beware of Fraudulent Email Alert!

Please be aware of suspicious emails that could invite you into revealing your sensitive information, e.g. Login ID, transaction password, and other confidential account information. Such emails may lead you to a fake website that looks very similar to the Bank's genuine website, or request you for update of banking information.
These emails are not issued by our bank and you are advised to ignore them and not to respond to any requests for personal information.
If you believe that someone is trying to commit fraud by pretending to be a IndusInd Bank, please contact us immediately.

Some tips to avert a fraud

  • Be alert for scam e-mails. They may invite you into downloading a virus or jumping to a fraudulent website and disclose sensitive information.
  • Make sure that websites on which you transact business have privacy and security statements and review them carefully.
  • Verify the website address (URL) is www.indusind.com, Take a few extra seconds and type the URL yourself.
  • Don't reply to any e-mail that requests your personal information. Do no disclose your transaction password over email.
  • Check the sender of email. Do not open an e-mail with an attachment.
  • Look for the padlock symbol at the bottom right of a web page to ensure the site is running in secure mode BEFORE you input sensitive information.
  • Make sure your Personal Computer has the most current anti-virus software.
  • Do not keep computers online when not in use. Either shut them off or physically disconnect them from Internet connection.
  • Immediately report any irregularities.
  • Keep you Personal Computer updated by downloading security patches.
What is an IVR transaction?

Interactive Voice Response i.e. IVR transactions are transactions that you carry out over the telephone where you provide your Credit Card number on an automated system to make payment to the vendor for purchase of goods, services etc. e.g. Account recharge on a TATA SKY helpline

How do I get an OTP for an IVR transaction on my IndusInd Bank Credit Card?

To generate an OTP for an IVR transaction on your IndusInd Bank Credit Card, please call our helpline number 1860 267 7777.

How do I use an IVR One Time Password?

You would be required to enter your IVR One Time Password (OTP), in addition to your IndusInd Bank Credit Card credentials, when prompted by the merchant IVR.

For how long is an IVR OTP valid?

An OTP generated once is valid only for 1 successful transaction or 2 hours whichever is earlier. You will need to generate a new OTP for every new transaction.

When does KYC apply?

KYC will be carried out at the following stages:

  • Opening a new account
  • Opening a subsequent account where documents as per current KYC standards not been submitted while opening the initial account
  • Opening a Locker Facility where these documents are not available with the bank for all the Locker facility holders
  • When the bank feels it necessary to obtain additional information from existing customers based on conduct of the account
  • When there are changes to signatories, mandate holders, beneficial owners etc

KYC will also be carried out in respect of non-account holders approaching the bank for high value one-off transactions like Drafts, Remittances etc

What will happen if I do not provide the required KYC information / documents to the Bank?

The Bank is required to refuse to open the account (if you are a prospective customer) or discontinue its relationship with you citing non-providing of KYC information / documents (if you are an existing customer).

What is Money Laundering?

Money Laundering refers to conversion of money illegally obtained to make it appear as if it originated from a legitimate source. Money laundering is being employed by launderers worldwide to conceal criminal activity associated with it such as drugs / arms trafficking, terrorism and extortion. All crimes that produce a financial benefit give rise to money laundering.

What has this got to do with opening bank accounts?

The first step in the laundering process for criminals is to get their money into an account with a Bank, often using a false identity and address. The funds so deposited will be transferred to other accounts locally or abroad or used for buying goods or services.
These transactions would appear to be like any legally earned money and becomes difficult to trace it back to its criminal past. Banks under law should not only prevent this, but should stop criminals who wish to use the banking channel to launder the ill-gotten money from illegal / criminal activities

How could this affect you as a customer?

A key defense against money laundering is to prevent accounts being opened in false identities. Anyone wishing to open an account will therefore be asked for proof of their identity and address. These documents have to be essentially obtained irrespective of the type of account to be opened and the purpose for which the account is opened for.
The fact that these documents are asked for opening of account does not mean that you are suspected of money laundering. Criminals try to appear to be normal lawabiding customers, for example they may try to open a number of accounts using small amounts of money. Hence it is necessary to identify all prospective account holders or customers. Any body including a criminal could falsely use your identity, if these identity documents are not obtained.

What are the regulatory requirements that you must know as a customer?
  • Under the Prevention of Money Laundering Act (PMLA) 2002, and the Rules thereof, the banks are required to report certain transactions to the nominated agency.
  • Under regulatory instructions issued by the Reserve Bank of India in consultation with the Government of India and Indian Bank’s Association:
  • Demand drafts, mail transfers and travelers cheques for Rs. 50,000/- and above can be issued only by debit to customer’s account or cheque etc, and not against cash payment
  • Demand drafts, mail transfers and travelers cheques for Rs. 50,000/- and above can be paid by banks only by credit to customer’s account or through other banking channels and not cash
Who is your contact point in the Bank for KYC purposes / Money laundering documentation?

Your contact point in the Bank will be the Branch with which your account is opened.
As regard to documentation please refer Account Opening Form, which is available at our Branches or on our website www.indusind.com . For further clarification kindly meet any of our Customer Service Executives at the Branch or call in our toll free no. 1860 500 5004 or 1800 2090061

How can you help us to help you?
  • You can help prevent crime, tax evasion and the laundering of the proceeds of such crime or evasion by being patient and co-operating when a Bank staff asks you to provide documents to prove your identity / address.
  • You can also help prevent crime against yourself and others by maintaining confidentiality of your account details and identity documents
Who has the bank tied-up with for the service?

The Bank has a tie-up with FSS the switch service provider to provide this service. FSS in their turn have entered into an arrangement with Paymate, to provide this service.

What is the minimum and maximum top-up value?

Minimum is Rs 15 and the Maximum is Rs 10,000.

Are there any charges for this service?

This service is absolutely free to our customers.

When will my bank account be debited?

Your bank account will be debited as per real time.

How does the entry reflect in my bank account?

Your account will show an entry as ATM Mobile Recharge along with the mobile number recharged and the card used.

What happens if I enter an incorrect mobile number?

IndusInd accepts the same for processing. If the mobile number is existing with the service provider, the same will be recharged. If the number is incorrect the amount would be refunded to you within 3 working days.

How soon does the top-up reflect in my mobile account?

On successful completion of the top-up transaction, the topped up mobile will receive a confirmation SMS from the aggregator (Paymate) and the service provider.

What will be the increase in the talk time?

Every service provider determines the talk time limit and the tops on your account with the service provider. Please get in touch with your service provider for talk time information.

What happens if I do not receive the top-up confirmation?

There could be situations where you do not receive a message for a host of reasons. Please check you mobile account. Your account with the service provider is updated real time. In case there is no change please contact your service provider.

How do I open an NRE / NRO Savings Account?

To open an NRE / NRO Savings Account, all you need to do is:

  • Download the application form (Please note that you would need to have Adobe Acrobat    Reader installed on your system)
  • Complete the application form
  • Attach a photograph
  • Enclose photocopies of the passport showing your passport and person details*
  • Attach a photocopy of your visa / resident permit / work permit*
  • Attach one document indicating your mailing address as mentioned on the application form.*

* All the documents need to be self attested. The above account opening form along with documents can be submitted at your nearest IndusInd Bank in India.

How do I choose whether I need to open a NRE (Non Resident External)Account?
  • Currency of funding- To be funded using foreign currency / foreign currency sources (other NRE/FCNR Accounts)
  • Tax implication- Both the principal amount and the interest earned on it is exempt from tax in India
  • Repatriation- The funds in the account can be converted to foreign currency and taken back to any overseas location
  • Joint Account holders- Can be held jointly along with either a NRI / PIO
  • Currency of maintenance- The funds in the account are maintained in India in Indian Rupees
How do I choose whether I need to open a NRO (Non Resident Ordinary) Account?
  • Currency of funding- Can be funded using foreign currency or Indian Rupees
  • Tax implication- The interest earned is subject to Tax Deducted at Source (TDS) of 30%+surcharge+edu cess
  • Repatriation- The principal amount is not freely repatriable. Conversion and transfer of funds in foreign currency is subject to certain restrictions
  • Joint Account holders- Can be held jointly with either a NRI / PIO or a Resident Indian
  • Currency of maintenance- The funds in the account are maintained in India in Indian Rupees
Does the password have to contain a certain structure?

Yes the password must be at least 6 characters and include at least 1 number.

Who is eligible to open an RFC account?
  • A person resident in India can open or hold an RFC account out of Foreign Exchange received
  • As pension or any other superannuation or other monetary benefits from his employer outside India; OR
  • Proceeds of assets being foreign currency, foreign security or any immovable property situated outside India if such currency, security or property was acquired, held or owned by such person when he was resident outside India; OR
  • Received as a gift or inheritance from a person who was resident outside India.
  • In this regard, foreign security is defined as any security, in the form of shares, stocks,bonds, debentures or any other instrument denominated or expressed in foreign currency and includes securities expressed in foreign currency, but where redemption or any form of return such as interest or dividends is payable in Indian currency.
What funds can be credited to RFC accounts of Returning Indians?

The entire amount of foreign exchange brought to India at the time of their return to India for permanent settlement as well as the balances standing to the credit of their NRE and FCNR accounts at the time of return can be credited to RFC accounts. However, if the aggregate value of the foreign exchange in the form of currency notes, bank notes or travellers cheques brought in exceeds USD 10,000/- or its equivalent and/or the value of foreign currency exceeds USD 5,000/- or its equivalent, it should be declared to the Customs Authorities at the Airport in the Currency Declaration Form (CDF), on arrival in India.

Are the balances in NRE/FCNR account permitted to be credited to RFC account?

RFC deposit accounts can be opened by transfer of balances in FCNR deposits with banks in India. This also includes the maturity proceeds of the Resurgent India Bonds (RIBs). The account cannot be opened with funds from an NRE Rupee Account. However, once the RFC account is opened with eligible funds as above, the balances in the NRE Rupee Account of the depositor can be transferred into the RFC account.

Is the interest earned on RFC account liable to tax?

The treatment of deducting tax at source on interest earned on RFC Deposit Account is similar to Domestic Term Deposits. The tax on interest income from RFC is exempted till such time as the Returning Indians maintain the status of ' Non Resident ' or 'Resident But Non Ordinary Resident’.A returning NRI covered by the definition of resident in current year will be considered ‘resident but not ordinarily resident ' if he is a non-resident for 9 out of 10 immediately preceding financial years or if he been in India for not more than 729 days during the preceding seven financial years.

Who can be a joint holder for RFC account?

The account can be held jointly with another person resident in India who is eligible to open an RFC account.

What is the interest rate and tenures for RFC deposits?

The interest rates offered for RFC Deposits is at par with FCNR deposits and the tenure ranging from minimum of 1 year to maximum of 5 years. Premature withdrawal will attract 1% penalty plus swap cost if applicable will be deducted.

Can funds in the RFC account be repatriated abroad?

Yes. Funds in RFC accounts can be remitted abroad for any bonafide purpose of the account holder or his dependents including exchange required for travel and other personal purposes and investments.

Can RFC account be opened anytime after returning to India?

Yes, there is no restriction as long a resident in India meets the condition of eligibility as stated above. Further, for returning NRIs, the eligibility to open this account is not linked in any way with their RNOR status under the Income Tax Act.

In which currencies can the RFC accounts be opened?

RFC term deposits can be opened in following currencies: USD, GBP, EUR, CAD, AUD and JPY

What is RTGS System?

The acronym “RTGS” stands for Real Time Gross Settlement. RTGS system is a funds transfer.

Is there any minimum / maximum amount stipulation for RTGS transactions?

The minimum amount to be remitted through RTGS is Rs.2 lakh. There is no upper ceiling for RTGS transactions.

What is the time taken for effecting funds transfer from one account to another under RTGS?

Under normal circumstances the beneficiary branches are expected to receive the funds in real time as soon as funds are transferred by the remitting bank.

Would the remitting customer receive an acknowledgement of money credited to the beneficiary's account?

The remitting bank receives a message from the Reserve Bank that money has been credited to the receiving bank. Based on this the remitting bank can advise the remitting customer that money has been delivered to the receiving bank.

Would the remitting customer get back the money if it is not credited to the beneficiary's account? When?

Yes. It is expected that the receiving bank will credit the account of the beneficiary instantly. If the money cannot be credited for any reason, the receiving bank would have to return the money to the remitting bank.

What is the essential information that the remitting customer would have to furnish to a bank for the remittance to be effected?

The remitting customer has to furnish the following information to a bank for effecting a RTGS remittance:

  • Amount to be remitted
  • His account number which is to be debited
  • Name of the beneficiary bank
  • Name of the beneficiary customer
  • Account number of the beneficiary customer
  • Sender to receiver information, if any
  • The IFSC code of the receiving branch
How would one know the IFSC code of the receiving branch?

The beneficiary customer can obtain the IFSC code from his branch. The IFSC code is also available in the cheque leaf. This code number and bank branch details can be communicated by the beneficiary to the remitting customer.

Do all bank branches in India provide RTGS service?

No, all the bank branches in India are not RTGS enabled. As on January 31, 2007 more than 26,000 bank branches are RTGS enabled. The list of such branches is available on RBI website www.rbi.org.in/Scripts/Bs_viewRTGS.aspx

Is there any way that a remitting customer can track the remittance transaction?

It would depend on the arrangement between the remitting customer and the remitting bank. Some banks with internet banking facility provide this service. Once the funds are credited to the account of the beneficiary bank, the remitting customer gets a confirmation from his bank either by an e-mail or by a short message on the mobile.

What is the new service offered on my Debit Card?

Your Debit Card has now been enabled for online shopping/ purchases.

How will I be able to use my Debit card for online purchases?

You will be able to use your Debit Card for online purchases by registering for Verified by Visa and creating your Verified by Visa password. You can create your Verified by Visa password either through our website or at the time of purchase.

What is the limit for online shopping on my Debit Card?

The daily purchase limit assigned on your Debit Card is the same limit applicable for online shopping. Hence, if the purchase limit on your Debit Card is Rs.50,000/- per day, the same limit will be applicable for online shopping. Example- If you have made purchases for Rs.25,000/- in a day, you shall be able to make online shopping for another Rs.25,000/- during the day or vice-versa.

What is Verified by VISA?

Verified by Visa is a new service which provides you additional safety when you use your IndusInd Visa Debit Card to make purchases online. Verified by Visa provides you assurance that only you can use your IndusInd Visa Debit Card online. This service ensures password protection for all online purchases/ shopping.

How does Verified by Visa work?

Verified by Visa provides you with a password to protect your online transactions, just like you use your PIN at an ATM. Here are the options -

At the Point of Shopping

  • Select the goods or services from a Verified by Visa online store and proceed to the payment page.
  • Enter your IndusInd debit card number and other details and the online store will connect with IndusInd Bank to check whether your Card is secured with Verified by Visa.
  • IndusInd Bank initiates a Verified by Visa pop-up window on your computer screen
  • Enter your password, IndusInd Bank will then confirm your identity to the merchant. Your payment is authorized and your order is placed.

Through Self Enrolment

  • Visit our website and register yourself under Verified by Visa
  • You would be required to accept the Terms & Conditions and verify yourself by filling your Card number, Card Expiry & ATM/Debit Card Pin
  • Select a Personal Message and a Password, with the help of which you can shop online.
  • Always look for your Personal Message to ensure that IndusInd Bank is authenticating your transaction at the time of online purchases
What is required for Verified by Visa Registration?

You require your Card Number, Card Expiry Date & ATM/Debit Card Pin.

When does my Verified by Visa password expire?

Your Verified by Visa password does not expire, it remains the same till it is not changed.

Can I register with my existing IndusInd Visa Debit Card or I need to apply for a new one?

You can register with any of your existing IndusInd Visa Debit Card.

Can I register with more than one IndusInd Visa Card?

Yes, you can register one or all of your IndusInd Visa Debit Card.

Can I opt out of Verified by Visa?

No, this is not optional. All online transactions will have to go through Verified by Visa process.

After I register, how long does it take for Verified by Visa to become active on my card?

Your registration message is displayed at the end of the registration process and you may begin shopping at participating stores securely on the Internet straightaway.

What is a Personal Message?

When you register under Self Enrolment through IndusInd Bank website for Verified by Visa, you will be asked to create a Personal Message. When you pay online, always look for this Personal Message to ensure that IndusInd Bank is authenticating you.

Can I change my Personal Message?

Yes, you can change your Personal Message by simply visiting IndusInd Bank’s website and logging into Verified by Visa account. All you need is your ATM/ Debit Card number and Verified by Visa Password to login.

I did not find my Personal Message?

If you have registered for Verified by Visa while shopping online you will not get the Personal Message, but you can create your own Personal Message by visiting IndusInd Bank’s website and logging into Verified by Visa account. All you need is your ATM/ Debit Card number and Verified by Visa Password to login.

What if I forget my password?

If you forget your password, you may reset your password after entering your Debit Card number, Card Expiry Date and ATM PIN by following the “Forgot your Password?” link on the IndusInd Banks Verified by Visa screen.

Can I use Verified by Visa from any computer?

You can use Verified by Visa at any PC that has an Internet connection with Internet Explorer 5.0 and above, or Mozilla Firefox 2 or above.

Can I get the benefit of Verified by Visa security at online stores that are not participating in the service?

No. IndusInd Bank Secure Internet Payment is available at only Verified by Visa compliant merchant websites.

What happens if I shop at a Verified by Visa merchant website while I'm not registered for this feature?

You will be prompted for online registration for Verified by Visa through a pop up screen. You would need to authenticate yourself with your IndusInd Debit Card number, Card expiry date and ATM PIN. You can choose your password to be used for Verified by Visa.

Thereafter, you can continue shopping on the merchant website. If you decide not to register immediately and cancel the pop up screen, your transaction will not get authorised and you would not be able to complete the transaction on such websites.

If I suspect someone has stolen my password or used it to make fraudulent purchases, what should I do?

Contact IndusInd Banks PhoneBanking centre and report the same.

Why Speed Clearing?

The collection of outstation cheques, till now, required movement of cheques from the Presentation centre(city where the cheque is presented) to Drawee centre (city where the cheque is payable)which increases the realisation time for cheques. Speed Clearing aims to reduce the time taken for realisation of outstation cheques.

What was the process followed by banks for collection of outstation cheques before the introduction of Speed Clearing ?

A person who has an outstation cheque with him deposits it with his bank branch. This bank branch is called the Presenting branch. The cheque is sent for collection to the city where it is payable / drawn called Destination centre or Drawee centre. The branch providing the collection service at the Destination centre is called the Collecting branch. On receipt of the cheque, the Collecting branch presents it in local clearing to the Drawee branch or the Destination branch. Once the cheque is paid the Collecting branch remits the proceeds to the Presenting branch. On receipt of realisation advice of the cheque from the Collecting branch, the customer's account is credited. This, in short, is the process of Collection. When a cheque is accepted on a collection basis by a bank, it credits the customer's account only after realisation of its proceeds.
Alternatively, in the absence of a collection arrangement at the Destination centre, the Presenting branch will send the cheque directly to the Destination branch for payment. On receiving the proceeds from Destination branch, Presenting branch credits the customer's account.

How long does it take for getting credit of an outstation cheque sent on Collection basis?

Generally, it takes around a week to three weeks time depending on the drawee centre and collection arrangements to get outstation cheques realised on a Collection basis.

How does the Local Cheque Clearing work?

In Local Cheque Clearing in 66 major centres, cheques are processed at the Clearing Houses on mechanised sorters, using Magnetic Ink Character Recognition (MICR) technology.

Local Clearing handles only those cheques that are drawn on branches within the jurisdiction of the local Clearing House. Generally, the distance between the Clearing House and the participating branches is defined, taking into account the local transportation and communication facilities as the cheques have to physically move to and from the Clearing House. For example, for a cheque to be processed in Local Clearing in Mumbai, both the presenting and drawee branches should be situated within the jurisdiction of the Clearing House in Mumbai.

How does the Speed Clearing work?

Banks have networked their branches by implementing Core Banking Solutions (CBS). In CBS environment, cheques can be paid at any location obviating the need for their physical movement to the Drawee branch. The concept of Speed Clearing combines the advantages of MICR clearing with that of CBS.

Cheques drawn on outstation CBS branches of a Drawee bank can be processed in the Local Clearing under the Speed Clearing arrangement if the Drawee bank has a branch presence at the local centre.

When will the beneficiary get funds under Speed Clearing?

As on date, the local cheques are processed on T+1 working day basis and customers get the benefit of withdrawal of funds on a T+1 or 2 basis. 'T' denotes transaction day viz. date of presentation of cheque at the Clearing House. So, the outstation cheques under Speed Clearing will also be paid on T+1 or 2 basis.

Which are the centres where Speed Clearing is presently available?
What are the charges for cheques cleared through Speed Clearing?

Presenting branches are currently permitted to levy charges at a rate not exceeding Rs.150 per cheque (inclusive of all charges other than Service Tax) for cheques of above Rs. 1 lakh presented through Speed Clearing. Â No charges are payable for cheques of value up to Rs. 1 lakh. With effect from April 1, 2011, no charges will be payable for cheques of value up to and including Rs. 1 lakh from Savings a/c customers. Banks would be free to fix charges for collection of other types of accounts for all values and also from Savings a/c customers for cheque of value above Rs. 1 lakh. Charges fixed should be reasonable and computed on a cost-plus-basis and not as an arbitrary percentage of the value of the instrument.

How is Speed Clearing an improvement over collection basis?

Outstation cheque collection through collection basis takes around one to three weeks time depending on the drawee centre. Under Speed Clearing, it would be realised on T+1 or 2 basis viz. within 48 hours. Further customers need not incur any service charge for collection of outstation cheques (value up to Rs. 1 lakh) in Speed Clearing which they may have to incur if such cheque is collected under collection basis.

How will a customer know whether a cheque can be cleared in Speed Clearing?

For facilitating customers to know CBS status of a branch, some of the banks stamp / print 'CBS' on the cheque leaves. Account numbers (if length of account number is more than 10 digits) printed on the cheque leaves may give a broad indication regarding CBS status of the branch. Further customers may refer to the list of Speed Clearing-enabled bank branches hosted on the website of the Reserve Bank of India under the link

What type of cheques can be presented in Speed Clearing?

Instruments of all transaction codes (except Government cheques) which are drawn on CBS-enabled bank branches are eligible for being presented in Speed Clearing.

Where is the Visa Credit Card Bill Payment facility available?

The Visa Credit Card Bill Payment service can be availed through IndusNet (IndusInd- Internet Banking service) and on all IndusInd Bank ATMs under Menu called Visa Credit Card Bill Payment. All you need to tell us is your beneficiary's Visa Card number and the amount of money you wish to transfer.

When will the money reach my beneficiary?

Within 2-3 working days funds shall reach your beneficiary's Bank. All transactions done on day 0 will be send on next working day & shall reach your beneficiary‘s bank after 1-2 working days. If the Visa Credit Card Bill Payment is done on any Bank Holiday or on a Sunday, the transfer of money will take one extra day to reach the beneficiary’s Bank. Once the money reaches your beneficiary's Bank, it will subsequently be credited to your beneficiary's card account.

Are there any charges for using Visa Credit Card Bill Payment service?

Through Internet Banking, Visa Credit Card Bill Payment is offered Free.
Through ATM there will be a nominal charge of Rs. 20/- plus service tax as applicable, per transaction.

Where can I transfer funds?

You can transfer funds to any VISA Credit card in India only.

Can I pay my Credit Card bills using Visa Credit Card Bill Payment service?

Yes, you only have to enter your Credit Card Number in the beneficiary's card number field. Using this facility you can pay any Visa Credit Card bills.

Can money be transferred on NON-Indian VISA Cards?

No, Money can be transferred to Visa Cards issued in INDIA only

Is there any per day limit on the amount for funds transfer?

Yes, Daily Limit through ATM and Internet Banking is Rs. 1,00,000/- through Visa Credit Card Bill Payment option.

What are the pre-2005 series banknotes?

The RBI issued Mahatma Gandhi series (MG series) 2005 banknotes in the denomination of Rs.10, Rs.20, Rs.50, Rs.100, Rs.500 and Rs.1000. These notes contain some additional / new security features as compared to the 1996 MG series. All banknotes issued before the 2005 MG series are called as pre-2005 series banknotes.

How can one distinguish the pre-2005 series banknotes?

Apart from the additional security features, the 2005 MG series banknotes have the year of printing on the reverse of the notes in the lower middle portion. Banknotes printed before 2005 do not have the year of printing on the reverse side and hence can be easily distinguished.

Why has RBI decided to withdraw pre-2005 series banknotes?

Reserve Bank of India decided to withdraw from circulation all banknotes issued prior to 2005 as they have fewer security features as compared to banknotes printed after 2005. The withdrawal exercise is in conformity with the standard international practice of not having multiple series of notes in circulation at the same time. The RBI has already been withdrawing these banknotes in a routine manner through banks. It is estimated that the volume of such banknotes (pre-2005) in circulation is not significant enough to impact the general public in a large way and the members of public may exchange the pre-2005 series banknotes at bank branches at their convenience.

Do the pre-2005 series banknotes cease to be legal tender?

The notes issued before 2005 shall continue to be legal tender. The notes are only being withdrawn from circulation and this withdrawal exercise is in conformity with the standard international practice of not having multiple series of notes in circulation at the same time.

Can the pre-2005 series banknotes be used for normal transactions?

Members of the public can continue to freely use these notes for their transactions and can unhesitatingly receive these notes in payment, as all such notes continue to remain legal tender.

Is there any time limit for exchanging these notes?

These notes can be freely exchanged at any bank branch till June 30, 2015. The procedure to be followed after June 30, 2015, shall be communicated by RBI in due course.

How is RBI ensuring that these notes are withdrawn from circulation?

Banks have been advised to stop re-issue of the pre-2005 series notes over the counters / through ATMs and they have been instructed to forward them to the Reserve Bank of India.

Is there any restriction on the number of pieces that can be exchanged?

No. There is no such restriction. Banks have been advised to freely exchange these notes till June 30, 2015.

Is it necessary to be a customer of the bank to exchange the pre-2005 series notes from its branches?

No. Banks have been advised to freely provide this exchange facility to all members of public, whether customer or non-customer.

Is it necessary to get cash in exchange or the amount can be credited in one's account?

It is not necessary to get cash in exchange for the pre-2005 notes. If a person desires, he can get the amount credited in his bank account.

Is there any fee to be paid for the exchange facility?

No. The exchange facility is to be provided free of cost by all bank branches.

As on 08-12-2016
Currency Description TT Buy TT Sell Fx Card / TC Buy Fx Card / TC Sell Cash Buy Cash Sell Bills Buy Bills Sell
AED UAE DIRHAM 18.0 18.73 18.07 18.73 18.05 18.73 18.1 18.73
AUD AUSTRALIAN DOLLAR 49.52 51.67 48.96 52.23 48.74 52.45 49.3 51.89
CAD CANADIAN DOLLAR 50.02 52.06 49.46 52.62 49.24 52.84 49.8 52.28
CHF SWISS FRANC 66.02 68.18 65.45 68.75 65.22 68.98 65.79 68.41
DKK DANISH KRONES 9.48 10.08 9.38 10.18 9.34 10.22 9.44 10.12
EUR EURO 71.41 74.02 70.66 74.77 70.37 75.06 71.11 74.32
GBP POUND STERLING 83.74 86.84 82.85 87.73 82.49 88.09 83.38 87.2
HKD HONG KONG DOLLAR 8.51 8.88 8.44 8.95 8.41 8.98 8.48 8.91
JPY YEN 58.4 60.75 57.73 61.42 57.46 61.69 58.13 61.02
NOK NORWEGIAN KRONE 7.8 8.38 7.7 8.48 7.67 8.51 7.76 8.42
NZD NEW ZEALAND DOLLAR 47.72 49.55 47.3 49.97 47.13 50.14 47.55 49.72
SAR SAUDI RIYAL 17.67 18.3 17.52 18.45 17.46 18.51 17.61 18.36
SEK SWEDISH KRONA 7.21 7.68 7.13 7.76 7.1 7.79 7.18 7.71
SGD SINGAPORE DOLLAR 46.77 48.52 46.34 48.95 46.17 49.12 46.6 48.69
THB THAI BAHT 1.79 2.0 1.79 2.0 1.79 2.0 1.79 2.0
USD U.S. DOLLARS 66.49 68.39 65.92 68.96 65.7 69.18 66.26 68.62
ZAR RAND 4.73 5.28 4.65 5.36 4.61 5.4 4.7 5.31
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