ICICI Bank Zero Balance Current account

ICICI Bank Zero Balance Current account: Super Merchant Current Account

Contents

What is ICICI Bank Super Merchant Current Account?
Features of ICICI Bank Super Merchant Current account
The Super Merchant Current Account has two variants catering to your specific business needs.
Super Advantage Plus Current Account
Super Advantage Current Account 
Is there any hidden charges in the Super Merchant Current account

ICICI Bank is one of the largest private sector bank in India. It has wide branch network with world class digital infrastructure. ICICI BANK has in its kitty one of the best current account with zero balance feature inbuilt in it.

What is ICICI Bank Super Merchant Current Account?

Super Merchant Current account has been launched to help merchants receive hassle-free digital payments through different modes like

Eazypay POS swiping machine
Eazypay UPI QR Code
Eazypay Payment gateway

Features of ICICI Bank Super Merchant Current account

Zero Balance Account: There is no requirement of maintaining balance in the account as long as merchant receives certain minimum amount of funds through digital modes.

Instant Card Settlement: Generally Merchants receives payout for Swipe machines on T+1 Settlement basis but in ICICI Bank Super Merchant Current account merchant receives instant payout after card swipe (Applicable for Proprietorship and Individual constitutions)

Insta Merchant Overdraft: Merchants can avail mortgage free overdraft limit up to Rs Fifteen lacs instantly depending upon his credit history

Eazy Online Store: Merchants can convert their store from offline to online using this account. For this free app is provided by ICICI Bank through which customer can order online from customer store. For more detail view demovideo

Eazy Rewards Programme : A unique loyalty programme that offers you best-in-class rewards for your shopping, travel, dining, recharge, entertainment and much more.

Eazy Merchant Assist: Get exclusive access to best-in-class offers on value-added services that can assist you to grow your business.

The Super Merchant Current Account has two variants catering to your specific business needs

Super Advantage Plus Current Account

No minimum balance requirement*
Unlimited outward cheque returns, per month
Higher branch transaction limit
12 times cash deposit limit of MAB, up to Rs 10 crore
Unlimited RTGS/NEFT payment - online and branch
50% waiver on processing fees for Auto Loans and Mortgage Loans
Complimentary Business Gold Debit Card
Free 150 cheque leaves, per month
Enjoy 150+ Business Banking services through the InstaBIZ mobile app
Promote your business at no cost.

Super Advantage Current Account

No minimum balance requirement*

2 free outward cheque returns, per month

Higher branch transaction limit

10 times cash deposit limit of MAB, up to Rs 1.2 crore

Unlimited RTGS/NEFT payment - online and branch

Complimentary Business Gold Debit Card

Free 150 cheque leaves per month

Enjoy 150+ Business Banking services through the InstaBIZ mobile app

Promote your business at no cost.

Is there any hidden charges in the Super Merchant Current account

No there is no hidden charge in this account but merchant has to keep few things in mind before opting for same.

This account to be mandatorily opened with ICICI EAZYPAY POS/PG/QR. If the Account is not linked with EAZYPAY POS/PG/QR within 1 month of account opening or EAZYPAY POS/PG/QR is surrendered at a later date or is inactive for a continuous period 6 months then it will be migrated to SBA 2.0 Silver from Super Advantage CA and to SBA 2.0 Platinum from Super Advantage Plus automatically and the Customer will be required to meet the QAB requirement for the corresponding variant.

Non-utilisation of EAZYPAY POS/PG/QR charges:

If amount of collection through POS/PG/QR < Rs 1,000 - Rs 499 per month If amount of collection through POS/PG/QR >= Rs 1,000 and < Rs 25000 Rs 249 per month

Non utilisation charges will not be applicable for the month when Customer maintains at least Rs, 50,000 MAB in Super Advantage CA and Rs. 500,000 MAB in Super Advantage Plus CA

 FAQ

Is it Mandatory to take POS with Super Merchant Current Account?

Yes, either of the three collection solutions have to be taken with Super Merchant Current Account, i.e. Eazypay QR, POS or PG.

 Do I need to pay for POS if I take Super Merchant Current Account?

Yes, all Eazypay POS and PG products have their own pricing.

 Can Existing Current Account migrate to Super Merchant Current Account?

Yes, the process for migration of existing account:If any of existing Current Account customer wishes to migrate to the new Super Merchant Current Account variant, he will have to take any one of the Eazypay collection (POS, PG or QR) solutions of the bank and contact branch representative.