ICICI Bank launches virtual "b2-Branch-free Banking" initiative

Mumbai: India's second largest lender after State Bank, ICICI Bank, has refined its internet banking with the introduction of its ''b2- Branch- free Banking".

''b2- Branch- free Banking'' is designed to offer seamless information through a single interface to facilitate banking transactions over the internet. It is a unique direct bank access, "which will empower customers to manage all their finances online".

In addition to easy 24x7 access to their bank, customers opting for ''b2-Branch-free Banking'', can benefit from zero charges and no minimum balance.

"Customers can also benefit from the quantum optima facility, wherein if the balance exceeds Rs5000, the money is automatically transferred, in multiples of Rs5000, to a linked fixed deposit, which will earn interest as per applicble bank fixed deposit rates," ICICI Bank said in a release. "It also offers facilities like an e-wallet, a zero-limit prepaid Visa card, which can be used for online purchases and to pay utility bills".

V Vaidyanathan, executive director, ICICI Bank said, ''b2- Branch- free Banking signifies a new way of banking -100 per cent online. India has over 49 million internet connections and this number is growing at around 20 per cent. So this innovation of banking ''only'' on the net will gather momentum.''

''b2- Branch- free Banking'', offers complete security to customers transacting on the internet by using different tools, methods, and processes to protect account information and banking transactions.