ICICI Bank InstaBIZ App – Know How to Register, Features & Services

I am sure that we all remember the time when just processing a transaction was a big task. We had to wait in huge bank queues even to get small things done. But thanks to mobile banking those days are over. We still go to the bank but for different purposes. And now we do not have to visit the branch in person for minimal assistance. Because now we have access to banks on our fingertips. Everything can be done at any time and at any place. The smartphone revolution has brought about big changes and has completely transformed the banking system worldwide. As the technology advances with every passing day banking has become one of the most convenient tasks. Now we can pay over the Internet and not just pay but can perform various banking tasks from our phones. ICICI bank has always been a trendsetter.

ICICI bank is also one of the leading banks in the private sector. We have seen ICICI bank launch many services online to make banking processes even more easier for its customers. Out of everything the ICICI bank leads and ranks first in position for providing ease to its customers in carrying out transactions via the online portal or through their iMobile app. The ICICI bank has also launched a new digital platform specially for micro small and medium enterprises and for its self employed customers. Before diving deep let’s first look at what can be carried out by using the mobile banking –

The services can be divided into two parts that are the transactional and the non transactional services.

1. Transactional services are as follows-
   • Funds transfer and deposits.
   • Any and all sort of payments.
   • Investments.
2. Now the non transactional activities are as follows-
   • You can keep tabs and check your recent transactions.
   • You can view your account information and history as well.
   • You can also check your current balance and the summary of your account.
   • Downloading bank forms and bank statements can also be done.
   • You can also request debit cards and cheque books.

What is ICICI InstaBIZ app?

ICICI bank has innovated and transformed the banking sector by its ‘InstaBIZ’. ICICI bank’s InstaBIZ is a brand new service offered by the bank specifically for micro small and medium enterprises MSME and self employed customers. The biggest benefit is that it offers a hundred a fifteen services that too all under one roof. You don not have to worry at all because the transactions will be completely secure and all of it will be carried out digitally. Through their website or mobile app. Also the best thing about the ICICI banks InstaBIZ is that there are no additional charges or fees you just have to download the app to register your business. Let me make it easier for you by running through the entire process of activating the InstaBIZ service.

How to Set Up Your InstaBIZ Service

• Download the InstaBIZ application on your mobile from the play store if you are using an Android handset or from the AppStore if you are using an iOS device as the app is now available on both android and iOS as well.
• Enter your details like your full name, your mobile number, and your email address.
• Once you have entered your details one of the representative with provide you assistance.
• You will receive a call from the bank for initiated process and the further process will be carried out along with the representative.

Any merchant can get access to this app to help with their business. All they have to do is link their bank account to the InstaBIZ. The biggest highlight is that InstaBIZ is available for the people who already have an ICICI account and even for the people who do not. That means does not matter if you are a ICICI customer or not you can still take the benefits of the InstaBIZ app by ICICI bank. The entire KYC that is know your customer is fully done digitally and the customers do not even have to visit the bank in person. The merchants also need not submit any documents as this initiative leverages upon the super advanced API of the bank that digitally verifies the PAN Card number or the Aadhar card number which is a requirement for the KYC that is know your customer verification process.

InstaBIZ Registration Process

This is how you can take the privilege of the ICICI bank’s InstaBIZ. Let me walk you through the registration process –

1. Open the InstaBIZ application.
2. You need a current account but it can directly be opened from the InstaBIZ app itself.
3. Enter your Aadhar card details.
4. Enter your PAN Card details.
5. You are all set.

Features & Services of ICICI Bank InstaBIZ App

The InstaBIZ service provided by ICICI bank gives access to loads of features. Here is the list of the features provided –

• Bulk payments – Bulk payments can be done by using the InstaBIZ app. You can transfer funds to not just one person but more than one person that too at a time using the Bulk payment option available on the InstaBIZ app. So you can transfer multiple funds at a time that too with absolute ease.
• This app makes it more convenient for you to transfer funds through UPI, NEFT, RTGS, and IMPS as well.
• One of the most beneficial things is that daily chores are made easy because you can also pay your bills like electricity bill, gas bills, you can also do your mobile recharge DTH that too with just one click by using the app.
• You do not even have to go to the branch for cash withdrawal because with the InstaBIZ app all you have to do is book a slot, request cash withdrawal and the cash will be delivered at your doorstep that too at the time that you have registered to receive the amount.
• Payment collection is also made easier as now you can collect a single invoice payment from your customers by raising an invoice through various methods such as UPI, gpay, etc.
• Also, the cash payment pickup option makes it super convenient as you can just request a cash pick up at your time that is most convenient to you.

• The InstaBIZ app also provides a feature that lets you check the status of the cheques cleared as well as the cheques issued.
• You can also initiate your point of sales and receive payments through swipe machine easily.
• A collateral free over the draft is also available for the InstaBIZ members where you can get over the draft facility for Rs. 15,00,000. And if you want to get more benefits then you will have to enter your GST details which enables you to extended the amount even upto one crore rupees.
• Your income tax, GST challan, advance taxes and the TDS also can be paid directly by the InstaBIZ app just through one click.
• You can keep tabs on your sales, cash positions, payments received, invoices raised and invoices received that too on the same page which is called as the ‘Business Dashboard’.
• The InstaBIZ module access are also assigned to the users to make sure that you give access only to the specific person required according to roles. To make it more secure there is also a financial limit to this role based accessibility.
• Now anyone can take the privilege of this app including the customers and the non customers as well and gain an over the draft facility upto Rs. 10,00,000.

Advantages & Benefits of InstaBIZ app

The advantages and the benefits of the InstaBIZ app are as follows-

1. The biggest advantage is that you can receive physical payments at your doorstep along with the facility of online payments as well.
2. Instant payments can be received unlike waiting for receiving the payment for 24 hours or even more at times.
3. You can have your own personal QR code which can also be linked to other banks.
4. You can even take printouts of this QR code and put it on your physical stores to receive an instant payment.
5. One of the biggest advantages is that merchants can apply for the point of sales directly through the app and also can be done even if they are based in different cities with a day span.
6. You can also take the privilege of services like activating EMI, international card access and acceptance, statement requests, transaction status and a GST invoice as well.
7. It has now become easier with the InstaBIZ app track the status of all of their applications of their point of sales device itself.
8. Now merchants can also create a digital store without any obstacles because they will also get access to templates and more than 500 catalogs to design their digital stores as per their wish.
9. This turns out to be super beneficial as the merchants get to design their promotional campaigns, and manage their invoicing, inventory and collections as well.
10. Also saves time because the digital store can be created in just thirty minutes.
11. Voice messaging is also available which helps with successful transactions and failed transactions as well.

Disadvantages InstaBIZ App

The disadvantages of the InstaBIZ app are as follows –

1. It cannot be viewed in the landscape mode.
2. There are pop-up ads on the InstaBIZ app.
3. There is no access given to allow viewing of ads.
4. You also might have to log in and log out of the InstaBIZ app multiple times.

Now that we have looked at and covered all of the points regarding the InstaBIZ app, you can definitely check it out and take the privilege of this app specially designed to help out merchants and benefit their businesses.

FAQ