Non-Personalized Debit Cards (NPDC): Post CBS environment has enabled the bank to issue NPDC to the customers on the opening day of the account itself. Bank has taken this initiative to render faster customer service and to provide Any Time Banking through ATM network across the country. Branch delivers the card along with PIN. The card will be activated within 48 hours of the issue. It is a tool to branches to attract new customers besides retaining the existing clientele for further business development. The cards can be used on any ATM across the country to avail the following services with free of charge. (Cir.no.341 Ref 55/25 dated 19.11.2012)
- Balance Enquiry / Mini Statement.
- Cardholders are allowed to withdraw cash up to Rs.25000/- per day. However, cash withdrawal per transaction is limited to Rs.15000/- as the machine can deliver maximum of 40 pieces only.
- The maximum limit allowed for purchase of goods and services is fixed Rs.50000/- per day.
- Credit Card holders having VISA/Master affiliation can avail cash advance facility from any of our ATMs across the country.
- Funds Transfer from one account to another account of the cardholder.
- Cardholders can donate funds to various trust schemes of Tirumala Tirupathi Devastanam as per their convenience using E-Hundi option.
- Credit card bill payment (our bank).
- Our Bank cardholders can avail Mobile Recharge facility.
- Rail Ticket / Air Ticket booking.
- mPAY registration for our customers.
SMS Alerts: Bank has launched Mobile Banking Services through “SMS Push alerts” to the registered customers. A customer has an option to register for Mobile Banking facility at branch or ATM or Internet. All Savings and Current Account holders who owns mobile are eligible to avail the following services at nominal charge of Rs.15/- per quarter plus applicable service charges.
- Savings Bank transactions (Clearing/Transfer/Cash)
- CD / ODCC transactions (Clearing/Transfer/Cash)
- Transactions on Alternate Delivery Channels (ATM, POS, Mobile and Internet)
- RTGS/NEFT/ECS and Credit Card transactions
- Cheque Returns / Cheque Book Issue
- Term Deposit Due date / overdue reminders for loan accounts
- Balance for any transaction at end of the day for Current/ODCC accounts.
However, the customers who do not wish to avail the said facility has option to withdraw from the scheme at any time. A mobile registered customer has an option to enquire Balance Enquiry, Last Five Transactions and Cheque Status Enquiry through “SMS Pull alerts”. However, the service provider (Mobile Company) levies applicable charge.
Mobile Banking (mPAY): Bank is providing SMS based mobile alerts to the registered customers to keep them informed of various transactions that occur in their accounts. Further, bank is also using the SMS media to send specific or common messages/information to the customers. In order to meet the customer expectations, Bank has introduced mPAY which provides the customers a secure and convenient means of banking from anywhere and at anytime. Under this, customers can check their account balances, view mini account statement, know cheque status, note stop payment of cheques, make donations and transfer funds (Mobile to Mobile and Mobile to Account) on press of button. All Savings Bank and Current account holders having ATM/Debit card are eligible to avail this facility. Customer has an option to link any one account (CASA group) connected to the card with the mobile number. Customer intending to avail mPAY facility should possess mobile handset Java enabled or Windows Mobile 5.0 & above model or Windows Mobile Professional model with activated GPRS (General Packet Radio Service). Customer can register for mPAY through any of our ATMs across the country. It is hassle-free paperless process and upon registration, customer receives a registration slip which contains the default application password and MPIN. The maximum transaction limit is fixed as Rs.10,000/- per day. At present, Bank is extending the said services free of cost. (Cir.no.220 Ref 55/18 dated 10.09.10)
Internet Banking: Our bank introduced Internet Banking with AB INFI-net brand name in the year 2008. Bank is extending the following facilities to the registered customers (Individuals and Corporate) free of cost:
- Account Balance Enquiry / Account Statement view / Printing / Downloading
- Request for Cheque Book / Term Deposit
- Online TAX payment (e-tax) / Online IPO – ASBA
- Credit Card Bill payment
- Funds Transfer – Registered customer has an option to transfer balances between linked operative accounts of the same customer across the branches and also undertake third party transfers from his/her account to any other operative account of Andhra Bank.
- Transfer of funds across the Banks through NEFT is allowed on Internet. The default limit set for retail customers is Rs.100000/- per day. However, branches can recommend for higher limits to Head Office depending on the request of the customers.
On receipt of Internet Banking application from the retail customers, branch should enter the details such as account number, mobile number and e-mail of the customer in the system for registration. Internet Processing Center, Koti, Head Office directly sends Login Password to the customer and transaction password will be sent to the branch for onward submission to the customer with due acknowledgement. However, branches to continue to forward the Internet requests from corporate customers to Head Office for approval. (Cir 304 Ref 55/19 dated 15.12.09, Cir 263 Ref 55/21 dated 23.10.10 & Cir 119 Ref 55/8 dated 12.07.11)
AB e-trade (Online Trading): The scheme is meant for the customers who are interested to carry stock market operations (Buying/Selling) at his convenience. It offers the depositor to trade from his residence or office or while on move through Internet. The salient features are as under:
- It is also called as 3-in-1 account since it integrates Bank Account, Demat Account and Broking Account of the depositor.
- Individual or Joint Account, HUF/Trusts, Corporates etc., who are eligible to open Current / Savings accounts can open AB e-trade account. However, the style and form of account holders in demat account should be the same as in bank account.
- The existing KYC guidelines are to be followed strictly while opening AB etrade account at the branch.
- This facility is being offered in tie-up arrangements with M/s.Religare Securities Limited (RSL).
- Once the account is opened, account holder is required to register with RSL to undertake online trading duly indicating the scheme viz., R-Ace, R-ACE Lite and R-Ace Professional.
- RSL sends the Login ID and Password to enable the customer to have access to the website for trading.
- In case of purchase of stocks, his account will be debited with the value of the stocks purchased plus brokerage/service charges and the said stocks will be transferred to his demat account.
- Similarly, in case of sale of stocks, demat account will be debited with the number of stocks sold and the proceeds will be credited to his bank account after deducting brokerage/charges.
- In order to protect the customers from fraudulent transfers, customers have an option to mark lien so that no debit operations are allowed in demat account. It is a unique feature available in our product.
- Brokerage charges levied by RSL is Rs. 0.05% for intraday transactions and 0.50% for other transactions i.e. delivery.
It enables the bank to improve low cost deposits besides earning fee based income through maintenance charges/transaction charges. (Cir no.70 Ref 51/3 dt.10.06.09)
Dematerialization (Demat) signifies conversion of physical form of securities in to electronic form and the converted securities will be credited to customer account with Depository Participant (CDSL/NSDL). This can be used for shares, bonds and Mutual funds. Now, it is mandatory that the investor should have Demat account to subscribe IPO/FPO. The benefits associated are – Faster settlement cycle, Elimination the risk of bad delivery, No stamp duty, Easy for the banks to lend against shares, Eliminate delays, thefts, interceptions and fake certificates and Online credit of Bonus/Rights/Split shares. Our Bank is offering value added service with a brand name “AB Demat” to facilitate the investors to have hassle-free, fast and accurate electronic transactions. Submission of application along with photograph, address proof and Bank account details are the prerequisites to open demat account. Nomination facility is available. Investor has the option to freeze/defreeze the securities. The service charges are as under:
|No||Service||Charges (Exclusive service tax)|
|1||Agreement charges||Actuals as per state laws|
|Individuals Rs.300/- Corporates Rs.750/- No charges
for staff accounts.
|3||Demat charges||Rs.2/- per certificate + mailing charges Rs.20/- in
India and Rs.500/- for foreign address
|4||Remat Charges||Rs.15/- for every 100 securities or part thereof.|
|5||Transaction Fee||0.04% of market value or minimum of Rs.20/-|
|Rs.50 /- per instruction|
Branches are allowed to sanction credit limits against pledge of approved and unencumbered shares, Debentures, Mutual Fund units, which are in demat form. The margin required is 50% on the market price or 52 week low whichever is low. However, the maximum limit that can be allowed is Rs. 20 lakhs only. (Cir. No. 70 Ref 51/3 dated 10.06.09)
Personalized Cheque Books: In order to meet the discerning expectations of the customers, Personalized Cheque Book facility is introduced at all important centers across the country and the indents will be processed online and delivered to branches through courier. All cheque leaves bear branch address and name of the customer, which provides value addition to the customers.
Computer Generated Cash Receipt: The most happening of customer interaction in the bank branches are at the cash counters and customers/public likely to take impulse decisions based on the service experience at these touch points. In order to improve the customer service at cash counters further and to avert avoidable complaints pertaining to cash related issues, all branches are advised to issue computer generated receipt for all customer related cash transactions. These receipts do not require any signature since they are system generated. It is the responsibility of the respective branches to ensure that the Cash Receipt Printers are kept in working condition along with required stationery. However, in the event of absence of cash receipt printers or printers going out of order, for the reasons beyond the control of the branches, branch may issue manual counterfoil/ acknowledgement, as an exceptional case. However, such counter-foils are to be countersigned by another officer apart from the signature of the staff receiving such cash. Branches are advised to display prominently near the cash cabin stating that customers are advised to demand system generated cash receipt only and it should also be mentioned that complaints made on pass book with manual entries and cash receipts issued manually will not be entertained by the bank. (Cir.no.208 Ref 55/17 dated 06.09.10 & cir.no.209 Ref 55/17 dated 20.09.10)
Tele Banking – Call Center: Bank has launched Tele Banking & Call Center to provide information to the registered customers about their accounts through Interactive Voice Response (IVR). Further, it enables the customers to have desired information without visiting the branch personally. IVR is available round the clock throughout the year including Sundays and Holidays where as Call Center services are available from 8 am to 8 pm on all days except on Sundays and National Holidays. Call center is providing the enquiry related services such as Balance Inquiry, Interest Rates, Product features etc., pertains to deposit and advance accounts. Caller is required to contact Toll Free Number 1800-425-1515 for the above information. However, the caller needs to furnish Customer ID and Personal details to know his account related information. Besides the above, Call Center disseminate information of various products of our Bank through Customer Service Executives to the registered customers as well as other customers/general public. Bank is not levying any charges for the said services.
Upset” service: In order to minimize the customer complaints and to match the customer expectations, bank has launched technology embedded service “Upset” proactively wherein customers can send their grievance through SMS direct to HO for immediate resolution. The salient features of the product are:
- The aggrieved customer is required to type the word Upset in his/her mobile and forward the same through SMS to 9666606060.
- On receipt of SMS, the service provider sends acknowledgment to the complainant and routes all inbound SMS received to Customer Service Department, HO on daily basis. In turn, Customer Service Department calls back the customer to elicit the details of the grievance/complaint and forwards the same to the concerned branch/office through email for doing the needful.
- Branch/Office is required to initiate necessary steps to resolve the grievance duly following the extant guidelines and furnish the information through email to email@example.com on the same day.
- The status of complaint/grievance will be informed to the complainant within 48 hours by the Customer Service Department, Head Office.
The newly introduced service ‘Upset’ is an opportunity to the bank to receive the expectations of the customers online and enables the bank to initiate necessary steps for speedy Redressal of the Grievances. (Cir.no.275 Ref 34/03 dated 29.10.2010)