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NACH & Autodebit

 

Enable faster mandate registration,seamless collections, and secure digital authentication for businesses of all sizes. Empower recurring collections for EMIs, insurance, mutual funds, etc. A unified platform for paper-based and e-mandates, with parameterized MIS for easy reconciliation.

 

 

FAQs

What is NACH, eNACH, Auto Debit, and iMandate?

These solutions facilitate secure, pull based electronic transactions to seamlessly automate high-volume recurring collections such as EMIs, insurance premiums, SIPs, or utility bills.

What are the different types of automated collection solutions available?

Businesses can choose from four types of recurring payment solutions based on their needs:

  • NACH (Physical Mandate): A paper-based solution where customers fill and sign physical mandate forms, which are then sent to the bank via courier or scanned copies. Suitable when offline or bulk registration is required.
  • eNACH: An electronic version of NACH that enables fully digital mandate registration. It eliminates the need for physical forms and wet signatures. Mandates can be authenticated through Internet Banking, Debit Card, Aadhaar OTP, and are registered in real time, making it faster and more secure.
  • Auto Debit: An electronic pull-based method for customers who have an ICICI Bank account. It allows quick and easy mandate setup with end-to-end automation, one-time debit authorisation, and reduced turnaround time.
  • iMandate: A simple digital option to register auto debit mandates online within the bank. Customers can authenticate mandates instantly through SMS OTP or Debit Card. This ensures faster setup, eliminates signature mismatches, and enables real-time status tracking via query back API.

Who can use these services?

Businesses of any size with regular collection needs like NBFCs, insurance firms, mutual funds, and utilities can use these solutions. .Incase of Autodebit the corporate and end customer both need to have an ICICI Bank account.

What documents are required to onboard?

You can reach out to your respective AM/RM. As per the standard process, the CMS and Trade Application Form along with other documents for the respective product would be required.

How do these solutions benefit my business?

They help to automate collections, provides better control over cash flow, reduce operational costs, and provide secure real-time mandate registration with multiple customer authentication methods all while offering easy reconciliation through customised MIS reports.

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