ICICI B2 – Fully Online and FREE Bank Account
Have you ever thought of opening an ICICI account but can’t bear the Rs 10,000 minimum balance. Now you can have a completely online bank account through ICICI B2 which is also free. ICICI Bank has recently came up with a unique and first of its kind savings account called “b2 – Branchfree Banking. It is a fully online direct banking service in which everything is done online, zero transaction charges on the savings account, no cheque book, no branch access, savings account with quantum optima facility. It is too simple, easy and saves your time
What b2 account offers:
Zero Balance and Zero Transaction Charges – There are no charges on transaction done in b2 savings account. Also, unlike regular savings account you don’t have maintain a minimum amount in your account.
Virtual Credit Card(VCC) – It enables to transact online with a credit limit of your choices.
E-wallet – An e-wallet gives you the conform of using a debit card online without having to expose your entire savings account for online transactions.
Online Prepaid Mobile Recharge – you can recharge your mobile right from your b2 account itself and money would be automatically debited from your account.
No Making Charges on Demand Draft
No Charges on NEFT
SMS Alerts
B2 savings account is not a regular savings account and we will not be getting facilities of normal savings account. Below is the difference between normal saving account & b2 savings account
What b2 account does not offer:
No branches, no cheque books – You will not have access to any ICICI Bank branches. For example, you won’t be able to withdraw cash from a branch. Also there will be no cheque book with account.
No debit card, no ATM access – Since this is a truly online account – you can move money from your b2 account to your other banks. You will not have a debit card or access to an ATM
No physical statements and passbook – you will not get any passbook or statement. Instead you can see them, in your b2 account itself.
To Apply for ICICI b2 account, visit ICICI B2 and click on Apply Here. A simple online Application form has to be filled with all your details. In step 3 if the name of your employer is not on the list, simply click on “O” and select “Others”. If you are unemployed like you are still studying then simply write “not applicable”. After filling up the form an ICICI bank executive would come to you for collecting required documents.
How to move money into your b2 account: There are many ways of doing that but the best one is dropping a cheque into any ICICI bank ATM’s drop box. Write your name and b2 account no in pay field and the amount will be credited to your account in 5 days.
How to move money out of b2 account: Again, there are many ways. The best is to transfer money into some other account by NEFT.
This service is useful for people you do lot of electronic transactions. use b2 for electronic transactions and your regular account for other offline transactions. The only problem is it is available in selected cities only.
Hi Shanavas, Thanks for the information, your blog has always the best and latest information. Very nice post my friend.
Dear shanavas, Whether they are providing online virtual credit card or real credit card..Shall we use this credit card for the online shoppings like paypal acceptance etc…
Good news. My money was really blocked in min balance of another account, I visited the site, features offered are full, can’t ask for more, well thanks for the article.
Hello sir, Thank you very very much. Happy to know about the new ICICI b2 account. I think this will definitly help the users for online business. sir can we fund paypal,forex with this.
Thanks, Can this ICICI b2 be used to verify paypal account. do reply.
Dear Thangarasu, They are providing a virtual credit card like netsafe card which can be used for online shopping.
Dear Svrekha, The virtual credit card is just like a netsafe card. You can fund forex.
Dear shivani, ICICI b2 comes with virtual credit card. You can use the virtual credit to verify paypal.
I want to open a ICICI Bank a/c. Let me have the process details. Balaji
Dear Balasubramanian, The minimum balance for a normal savings account is Rs 10000. Please contact the ICICI branch and they will do everything.
Very useful information. Thank you very much.I am also trying to open an ICICI b2 account.
Please help me with details on how to open this account online
Dear John, You have mentioned in another comment that you are not an Indian. This is only for Indians
Does this b2 account have a IFSC? I was wondering if it could be used for withdrawing money from Paypal?
Dear Rinki, ICICI b2 has IFSC code.
my user id got locked. how long it will take to receive?
In response to Rinki Khanna’s question:
Does this b2 account have a IFSC? I was wondering if it could be used for withdrawing money from Paypal?
Yes, ICICI’s B2 account does have an IFSC code
It is listed on their B2 site contact us page
http://www.b2.icicibank.com/Contact_Us.html
“To transfer money from the net banking facility provided by any other bank,
use our IFSC Code:”ICIC0000323″ and branch name:”Lower Parel – Mumbai”.”
Hope that helps
Can I use B2 E-wallet to fund my forex account or entropay card?
Dear Abhijith, You can use ICICI B2 E-wallet to fund your forex account.