We at Ujjivan Bank offer best in class value added services. We strive to value add to your business to not only make banking easier for you but also enhance your businesses’ growth opportunity. We, through our various alliances aim to bring to you a host of banking solutions that can help you ease your business processes and add to your convenience.
We also offer personalized value added services for every kind of businesses. We invite you to a world of better banking through Ujjivan Bank.
Cash Management Services Cash & cheque pick up
Enjoy hassle-free and convenient banking with Ujjivan Bank’s Cash management service (CMS). Don’t let routine transactions take you away from your work. With Ujjivan Bank’s CMS facility at your service, you can focus all your time and energies towards the growth of your business. Our designated service provider will simply collect the cash from your business premises and deliver your funds directly to Ujjivan Bank Branch on your behalf..
The Ujjivan Bank Edge
about the nach service
NACH (National Automated Clearing House) is an electronic payment solution offered by NPCI, which facilitates interbank high volume repetitive and periodic transactions. This facilitates both debit i.e. collections and credit i.e. remittance transactions that are easy, simple and quicker to manage.
NACH Credit is an electronic payment service used by an institution for making credits to a large number of beneficiaries in their bank accounts
NACH (Debit) facilitates the Corporate for collection from large number of beneficiaries from their bank account
Payments include payments of dividend, interest, salary, pension etc.
Payments like loan instalment repayments, periodic investments in mutual funds, insurance premium, telephone / electricity / water bills, tax etc
Ideal for transactions where there is one Debit and multiple credit
Ideal for transactions where there is one Credit and multiple debit
usage of nach
NACH enables collections of repetitive receivables like Utility bills (electricity/telephone/Mobile bills, credit cards, etc), Mutual Fund (SIP), Insurance Premium, Loan Instalments, credit card payments, payments of donations and other bill payments as well.
1. Sponsor Bank (Ujjivan Bank)
Sponsor Bank is the Bank, which lodges NACH Transaction files for collection/ distribution of funds on behalf of its Corporates registered for NACH services. In case of loan EMI, the Bank acts as User Institution as well as Sponsor Bank.
2. Destination Bank (customer’s account holding bank)
The Bank responsible for processing of Inward NACH transaction file is known as ‘Destination Bank’.
4. Mandate Holder
NACH for Corporates:
ujjivan bank as sponsor bank:
Ujjivan Bank’s role as a Sponsor Bank is to intermediate between corporate entities & NPCI (Clearing & Settlement agency) concerning presentment of transactions towards collections and remittances.
We lodge NACH Transaction files for collection/ distribution of funds on behalf of corporates/institutional entities. In case of loan EMI, the Bank acts as User Institution as well as Sponsor Bank.
benefits to the corporate:
the ujjivan advantage:
pre requesite for corporates:
For Corporates wishing to avail NACH services, a simple user code request form, initiates the process of NACH set up. The completed form is to be submitted to the nearest Ujjivan Bank for onward submission to NPCI.
Utility code: Utility Code or Corporate User ID is a user identification Number that would be allotted by NPCI within two (2) working days.
Corporates can obtain multiple user numbers if availing NACH services from multiple banks.
NACH for Individuals:
ujjivan bank as destination bank:
As a customer of Ujjivan Bank, the Bank offers a variety of payment solution that is convenient and easy to set up.
You can execute mandates on your Ujjivan Bank accounts towards making repetitive payments like, Loan EMI, Insurance premium payments, Utility bill payments etc.
Ujjivan Bank as a Destination Bank provide account services with which you would be able to validate mandates executed by you within the TAT specified by NPCI and help you in setting up of mandates on your Ujjivan Bank accounts.
prerequisite for individuals:
Customers’ need to fill the mandate form mentioning the accounts details, amount, frequency of transactions and the timeline and submit it to the Corporate entity to whom they wish to make payment.
benefits to the customer:
1. What Is NACH? +
2. How Are NACH And ECS Different? +
3. What Are The Variants Of NACH? +
4. What Is NACH Credit? +
5. What Is NACH Debit? +
6. What Are The Key Features Of NACH Debit? +
7. What Is A Mandate? +
8. What Is The Size Of The Mandate? Is It Mandatory To Restrict Mandate To The Specified Size? +
9. What Is UMRN? +
10. I Am a Corporate/Firm and wish to avail NACH Services for Making Salary and other recurring Payments to our employees and collecting funds from my Clients on Regular Basis. How to Proceed? +
11. What Are The Benefits Of NACH? +
12. What Are The Prerequisites For Availing NACH Services For Corporate? +
13. What Do You Mean By “Utility Code”? +
14. What Is A ‘User Number’? Can A Single Corporate Have Two Or More User Numbers? +
15. Is The User Number Unique To The Corporate Or Is It Linked To The Sponsor Bank? +
16. What is a Sponsor Bank? +
17. Define Destination Bank? +