ICICI Bank has introduced first of it’s kind service smsNcash. If you are an ICICI Bank customer, you can transfer the money to your friend through his mobile phone. Your friend need not to be any bank’s customer and he can withdraw money from ATM.
Here is how it would work, you will register the beneficiary mobile number and amount to be remitted, the benficiary will receive a 6 digit code and you will also recieve a 4 digit code.

The Beneficiary will have to visit any of the specified ICICI ATM branch and has to enter the following parameters.

• The beneficiary’s mobile number
• The 4-digit code (as received by the remitter / ICICI Bank customer)
• The 6-digit code (as received by the beneficiary)
• The amount remitted (in INR)

You will be charged Rs. 10 +taxes upto Rs. 5000 remittence and Rs.25 +taxes for above than Rs. 5000.
You can transfer maximum of Rs. 10000 transaction and not more than 25000 per day.

Read FAQ about smsNcash

Thanks India Inc.