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Value Added Services


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.

CMS

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

  • Enjoy added convenience by arranging to have your cash collected at your doorstep and sent directly to Ujjivan Bank Branch on the same day for depositing into your account.
  • No queuing at the branch, bank from the comfort and security of your office/ business premise.
  • Cash-in-Transit agents (CIT) pick up and deliver cash in armoured vehicles and are secured by a comprehensive insurance cover.
  • Multiple verification and fool-proof reconciliation procedures to ensure security.
  • Agency personnel to produce ID card on demand.
  • Unique transaction ID generated for agent verification.
  • Reduces risk of carrying large sum of cash to the branch.

Key Services

  • Beat Service – Ideal for clients who have large number of cash transactions on a daily basis. Ujjivan Bank instructs agency to visit you on daily basis at a time fixed by you.
  • On Call Service – You request for service as and when required.

Note

  • CMS facility is currently available in select cities only. New locations are added on a regular basis. For the complete and latest list of serviceable locations, contact Branch Manager of Ujjivan Bank.
  • It's a chargeable service; please refer to the schedule of charges..
Schedule of Charges

NACH

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

NACH Debit

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.

Entities involved:

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’.

3. NPCI:

  • Intermediary between the Sponsor and Destination Bank Creates Utility code for the corporate and communicates the same to the sponsor bank.
  • Generates the unique mandate reference number (UMRN) for each of the registered mandates and sends it to the respective destination banks.
  • Transaction file uploaded by the destination bank will be allocated to the respective destination bank for processing the transaction.
  • Updates the sponsor bank with the transaction response upon completion of the transaction.

4. Mandate Holder

  • Customers of the corporate/user institution are required to fill up the mandate details such as Name, account no, bank name IFSC code, amount, tenure of transaction in the mandate and submit the same to the corporate/ User institutions.

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:

  • Eliminates paper-based instruments like cheques/DDs.
  • Timely collections & payments thereby improving liquidity.
  • Transaction report along with your reference code for easy and quick reconciliation.
  • Hassle free collections results in improving your customer experience.
  • Facility to customized the offering basis specific request

the ujjivan advantage:

  • Seamless movement of mandate & transaction files for quicker mandate set up and transaction processing.
  • Robust technology to support large volumes of transaction processing.
  • MIS reporting with respect to successful and unsuccessful transactions with reasons for unsuccessful transactions.
  • Handholding of corporates to ensure smooth set up of the services within minimal TAT.

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:

  • Timely payment of bills / Instalments /premium without the hassle of remembering the due dates.
  • Timely SMS alerts on execution of the mandate.
  • No late Payment charges.
  • Less dependency on paper-based transaction.
  • Faster processing time and less manual intervention.

NACH Faq

1. What Is NACH? +

NACH (National Automated Clearing House) is a funds clearing platform set up by NPCI (National Payments Corporation of India) similar to the existing ECS of RBI. NACH (Debit) & NACH (Credit) aims at facilitating interbank high volume, low value debit/credit transactions, which are repetitive in nature, electronically using the NPCI service.

2. How Are NACH And ECS Different? +

NACH

ECS

A robust Mandate Management System that includes a standardized mandate format and a defined workflow for mandate verification.

Mandate verification is done based on physicals, resulting in verification issues and delayed timelines.

Unique mandate registration reference number will be available, which will allow for better tracking.

No such concept of a unique mandate registration reference number.

3. What Are The Variants Of NACH? +

Primarily there are two variants of NACH – NACH Debit & NACH Credit.

4. What Is NACH Credit? +

NACH Credit is an electronic payment service used by an institution for affording credits to a large number of beneficiaries in their bank accounts for the payment of dividend, interest, salary, pension etc. by raising a single debit to the bank account of the User Institution (Corporate registered for NACH Services). Ideal for transactions where there is one Debit and multiple credit

5. What Is NACH Debit? +

NACH (Debit) facilitates the Corporate for collection of loan instalment repayments, periodic investments in mutual funds, insurance premium, telephone / electricity / water bills, cess / tax etc., that are periodic or repetitive in nature and payable to the User Institution (Corporate registered for NACH Services) by large number of customers etc. Ideal for transactions where there is one Credit and multiple debit

6. What Are The Key Features Of NACH Debit? +

  • NACH Debit is a Mandate based debit service. Following are the key features of the NACH Debit:
  • Automated processing and exchange of mandate information electronically with well-defined timelines for acknowledgement/confirmation.
  • Each mandate needs to be accepted/ authorized by the debtor bank before the User can initiate a transaction.
  • Each mandate is uniquely identified by Unique Mandate Reference Number (UMRN), which makes tracking of multiple mandate details easier for customers.

7. What Is A Mandate? +

One Time Mandate` is a one-time registration process. It is just an authorization to your bankers to debit your account with a fixed amount or up to a certain limit as per the frequency given by you in mandate form.

8. What Is The Size Of The Mandate? Is It Mandatory To Restrict Mandate To The Specified Size? +

The mandate has to be in the size of a standard cheque ie. 8” x 3 2/3”. It is mandatory to restrict the mandate to the size mentioned above.

9. What Is UMRN? +

UMRN - UMRN is a Unique Mandate Reference number allocated to each new mandate created in NACH Debit. It is auto generated by the NACH system during mandate creation. UMRN is mandatory for every transaction and even during mandate amendment and cancellation.

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? +

For corporate 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 branch 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.

The further process is as under:

A. NACH (Debit):

  • Corporate customer will obtain NACH Mandate forms from his clients and submit to the Ujjivan Bank Branch. Branch will get the same approved from destination Banks of the clients through NPCI. Hence, it is advised to submit mandate at least 15 days prior to the due date of collection of payments.
  • After approval of mandates, Corporate may submit transaction file to the Branch as per given frequency on the specified format of NPCI.

NACH (Credit):

  • Mandates are not required.
  • After getting Utility Code from NPCI, Corporate may submit NACH Transaction file to the Branch for further processing on the specified format of NPCI.

11. What Are The Benefits Of NACH? +

For Consumers:

  • Timely payment of bills /instalments /premium without remembering the due dates.
  • Faster processing time and less manual intervention.

For Corporate (User Institutions):

  • Better customer service.
  • Timely dispersal of salaries, dividends, collection of EMIs and clearance of bills.
  • Facilitates automatic credit of variable benefits like allowances, scholarships etc.
  • Less dependence on cheques and paper transactions.

For Banks:

  • Less dependence on cheques and paper based transactions.
  • Faster processing time and less manual intervention.
  • Better service to customers and affiliate organizations.

12. What Are The Prerequisites For Availing NACH Services For Corporate? +

Corporate wishing to avail NACH services needs to be a current account customer of Ujjivan Bank and is registered with NPCI & obtain Unique Identification Code (Utility Code) for NACH services through Ujjivan as sponsor Bank.

13. What Do You Mean By “Utility Code”? +

Utility Code/ Corporate User ID refer to the User Number that has been allocated by NPCI, to the Corporates.

14. What Is A ‘User Number’? Can A Single Corporate Have Two Or More User Numbers? +

It is the ID issued to a corporate that is linked to the Sponsor bank. The corporate will have to get a new User number if it changes its bank or will have to maintain multiple user number if it is transacting with more than one bank.

15. Is The User Number Unique To The Corporate Or Is It Linked To The Sponsor Bank? +

User number is unique across the system. If a corporate has a tie up with two banks he will have 2 user numbers.

16. What is a Sponsor Bank? +

Sponsor Bank (Ujjivan Bank) is the Bank, which is authorised to lodge NACH Transaction files for collection/ distribution of funds on behalf of the Corporates/firms registered for NACH services. In case of loan EMI, the Bank acts as User Institution as well as Sponsor Bank.

17. Define Destination Bank? +

The Bank responsible for processing of Inward NACH file is known as ‘Destination Bank’.

NACH transaction charges are not applicable in respect of Income Tax Refund Orders.

Schedule of Charges