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Billing & Payments

The bills are generated in the beginning of each month for the previous month. The due date is mentioned in the bill. However, it is not viable for us to send bills with amount less than a certain cut-off amount.

Therefore, we are generating bills for only those customers whose bill amount is greater than or equal to the cut-off amount. At present, the cut-off amount is Rs 50.00.

It is important to note that, if a customer has made transactions which amount to less than the cut-off amount, the bills will not displayed on the Intranet ledger, therefore, please do not assume 'no bill details' equals 'no transactions'.

Such customers will receive a bill in the next quarter or whenever the bill amount exceeds the cutoff amount.

Details of Bills :-

The bills contain the following details on the first page

Summary of the bill for the period on page 1

  • Opening Amount due from you: This is the amount outstanding from the customer at the beginning of the billing period.
  • ICICI Bank Charges: This is the sum of all charges levied by ICICI Bank Demat Services for the billing period as per the schedule of charges.
  • NSDL/CDSL Charges: This is the sum of charges levied by NSDL/CDSL on ICICI Bank in respect of the account for the billing period as per the rates applicable for the period. This is payable in addition to the ICICI Bank charges as per the schedule of charges.
  • Goods and services Tax (GST): GST will be charged as per the prevaling rates.
  • Payments received from you: This is the sum of amounts received from the customer during the billing period. Payments received after the billing period will be reflected in the next bill.
  • Credits given to you: This is the sum of credits given to the customer during the billing period. Credits given to him after the billing period will be considered in the next bill.
  • Net payable by you: This is arrived as: Opening Balance + Total Charges for the period - Receipts Credit Notes.
  • Please pay: This is the amount payable by the customer.

 

Details of the bill for the period on subsequent pages relating to

  • Charges
  • Charges are computed on daily basis as per the price file received from NSDL/CDSL
  • Recoveries
  • Credit Notes
 

Custody charges - calculation

Custody Charges have been discontinued, since February 01, 2005.

Mode of recovery

  • Direct Debit
    If you hold an ICICI Bank account and have given a mandate for recovery of charges from such account, the charges are recovered directly from your bank account on or after the due date. Direct Debit recovery is done twice, one on due date and second is on 1st week of next month.
  • ECS
    If you hold a bank account with a bank other than ICICI Bank and have given a mandate for recovery of charges from such account, the charges are recovered directly from your bank account on or after the due date.
  • Cheque
    If either of the above is not applicable, you should make the payment by cheque/DD by the due date. When the amount remaining to your credit goes below the specified threshold, you should replenish the same as per the rate card
 

ICICI Bank reserves the right to charge interest @24% p.a. on amounts remaining outstanding after the due date. However we are now charging RS.100/- for cheque return cases.

 

Change of Mode of recovery from Direct Debit/ECS to Cheque/DD mode

 

If you are on a mode of recovery wherein your bill amount is recovered directly from your bank account and you wish to discontinue the same, you are required to request for the same in writing in the prescribed form. However, you are required to provide an advance as per the rate card applicable to you. Your charges will be adjusted from this advance. If you close the account and there is an amount lying to your credit, the same is refundable to you.

 

Suspension


If the payment has not been received after 15 days of due date. The intimation letter sent to client to clear his outstanding within 7 days from the receipt of the letter otherwise the account would be suspended. If the payment has been received within 7 days the account will not be suspended. If the payment not received account will be suspended. On receipt of the payment the account will be resumed.