ICICI Cooling Period, ICICI Bank Cooling Period, ICICI Beneficiary Activation Cooling Period.
ICICI Bank offers many services for its customers through iMobile Pay mobile banking, ICICI allows you to transfer money using internet banking and mobile app, After you add a beneficiary in ICICI Net Bank or iMobile Pay by ICICI Bank app, it takes time to activate it.
ICICI Cooling Period
ICICI Bank offers money transfers through UPI, IMPS, NEFT or RTGS, iMobile Pay App, After you add beneficiary details it may take some time to activate, It is known as cooling period, fund transfers are allowed after completing the cooling period, SMS and email alerts will be sent to the beneficiary during additional 30 minutes cooling off period after enrollment of the beneficiary.
Most banks set an activation and cooling period of 30 minutes to 4 hours, This is very stressful for many bank customers who need to send and receive money regularly, ICICI Bank, like other banks, provides activation after adding the beneficiary, You have to wait for it to be activated. Beneficiary activation time in ICICI Bank is 30 minutes.
ICICI Cooling Period Time – Because there is no cooling time for ICICI, you can transfer any amount within the transfer channel restrictions within 30 minutes after activation.
Immediate Payment Service (IMPS) – Upto ₹5 lakhs per transaction for IMPS (₹20 Lakhs per day through iMobile Pay).
| Transaction Limits/Timing | Account number + IFSC | Mobile number + MMID | Account number + IFSC | Mobile number + MMID |
| Minimum | ₹ 1 lakh | ₹ 1 | ₹ 1 | ₹ 1 |
| Maximum | ₹ 5 lakh | ₹ 10,000 | ₹ 5 lakh | ₹ 10,000 |
NEFT (Internet banking and iMobile)
| Transaction Limits/Timing | 01.00 hrs – 19.00 hrs | 00.00 hrs – 01.00 hrs and 19.00 hrs – 00.00 hrs | 2nd & 4th Saturday, Sunday & RTGS Holidays |
|---|---|---|---|
| Minimum | ₹ 1 | ₹ 1 | ₹ 1 |
| Maximum | ₹ 10 lakh or ₹ 1 crore (based on customer segment) | ₹ 2 Lakh | ₹ 2 Lakh |
RTGS (Internet Banking)
| Transaction Limits/Timing | 01:00 hours – 19:00 hours | 19:00 hours – 00:00 hours and 00:00 hours – 01:00 hours | 2nd and 4th Saturday, Sunday and Bank holidays |
|---|---|---|---|
| Minimum | Rs 2 lakh | Rs 2 lakh | Rs 2 lakh |
| Maximum | Rs 10 lakh or Rs 1 crore (based on customer segment) | Rs 10 lakh | Rs 10 lakh |
RTGS (iMobile)
| Transaction Limits/Timing | 01.00 hrs – 19.00 hrs | 19:00 hours – 00:00 and 00:00 hours-01:00 hours | 2nd and 4th Saturday, Sunday and Bank holidays |
|---|---|---|---|
| Minimum | ₹ 2 lakh | ₹ 2 lakh | ₹ 2 lakh |
| Maximum | ₹ 20 lakh | ₹ 10 lakh | ₹ 10 lakh |
CIB, Instabiz & API Banking NEFT
| Limits | 01:00 hrs – 19:00 hrs | 00:00 hrs – 01:00 hrs and 19:00 hrs – 00:00 hrs | 2nd & 4th Saturday, Sunday & Holidays |
|---|---|---|---|
| Total transaction Amount | Existing Workflow limit mapped to Corporate | Maximum ₹ 10 Lakh | Maximum ₹ 10 Lakh |
CIB, Instabiz & API Banking RTGS
| Limits | 01:00 hrs – 19:00 hrs | 00:00 hrs – 01:00 hrs and 19:00 hrs – 00:00 hrs | 2nd & 4th Saturday, Sunday & Holidays |
|---|---|---|---|
| Total transaction Amount | Existing Workflow limit mapped to Corporate | Maximum ₹ 1 Crore | Maximum ₹ 1 Crore |
FAQs
What is cooling period in ICICI Bank UPI?
Yes, after a UPI PIN is reset, we execute a cooling-off period. It usually lasts for the first 12 hours following the PIN change. We set a transaction limit of 5000 for security reasons.
What is bank account cooling period?
What exactly is a cooling period? The cooling period is the time period defined by the bank during which funds cannot be transferred to a newly added beneficiary. Once the beneficiary has been successfully registered by customers, activation will take some time, which is known as the cooling period.
Is ICICI Bank cooling period limit 5000?
The first 24 hours are worth 5,000. Payments are made using a UPI PIN. If the UPI PIN is used, money is deducted.