Banking Services

1. Any Branch Banking(ABB)

Any Branch Banking (Core Banking Solutions) is networking of branches, which enables Customers to operate their accounts, and avail banking services from any branch of the Bank on CBS network, regardless of where he maintains his account. The customer is no more the customer of a Branch. He becomes the Bank’s Customer.

The key benefits of ABB are;
  1. Account balance Inquiry
  2. Cash Remittance and Withdrawal
  3. Deposit Cheques for Credit into Account
  4. Deposit Cheques / cash into account of some other person who has account in an ABB branch.
  5. Get Account Statement
  6. Quick transfer of funds from one account to some other account – one’s own or of third party(CBS branch)
  7. Obtain Demand Drafts or Banker’s Cheques from any branch on CBS.
Any Branch Banking facility has been activated by the PDCB since May 2013. Customers can avail the facility mentioned above across all our branches.
 
2. SMS Banking

SMS Banking is a technology enabled service offering from bank to its customers to know their account details through SMS.

The key benefits of SMS Banking are;
  1. Account related alerts
  2. Common messages
  3. Greetings
3. Insurance

1. Pradhan Manthri Suraksha Bhima Yojana(PMSBY)

Age Limit

Minimum 18 Years

Maximum 70 Years

Period

1 Year(Renewable insurance cover)

Premium

Rs. 12/- per annum

Payment Mode

The premium amount will be directly auto-debited in a single instalment by the bank from savings account.

Documents

Aadhar number (If any)

Benefit

Accident insurance worth Rs. 2 lakhs.












2. Pradhan Manthri Jeevan Jyothi Bhima Yojana(PMJJBY)

Age Limit

Minimum 18 Years

Maximum 50 Years

Period

1 Year(Renewable insurance cover)

Premium

Rs. 330/- per annum

Payment Mode

The premium amount will be directly auto-debited in a single instalment by the bank from savings account.

Documents

Aadhar number (If any)

Benefit

Life insurance worth Rs. 2 lakhs.












4. Mobile Branch Banking

To achieve the objective of greater financial inclusion bank has introduced mobile bus. To facilitate the banking services to the villagers around Agali area we have a separate Mobile Bus that provides banking services by plying mobile bus to different villages on predetermined dates and time fixed for them.

Bank’s mobile bus covers 10 locations;

Sl. No.

Day

Place

1

Sunday

Sholayur

2

Monday

Pudur

3

Monday

Chavadiyur

4

Tuesday

Mukkali

5

Tuesday

Pakulam

6

Wednesday

Thavalam

7

Wednesday

Thekkuvatta

8

Thursday

Jellippara

9

Thursday

Karara

10

Friday

Chittur


5. Aadhar Payment Bridge System(APBS)

It is a unique payment system implemented by National Payments Corporation of India (NPCI), which uses Aadhar number as a central key for electronically channelizing the Government subsidies and benefits in the Aadhar Enabled Bank Accounts (AEBA) of the intended beneficiaries.

It is a payment system based on Aadhar numbers issued by UIDAI & IIN (Institution Identification Number) issued by NPCI. APB System is used by the Government Departments and Agencies for the transfer of benefits and subsidies under Direct Benefit Transfer (DBT) scheme launched by Government of India.

The APB System sub-serves the goal of Financial Inclusion and provides an opportunity to the Government to attempt financial re-engineering of its subsidy management program. The implementation of APB System has also lead to electronification of a large number of retail payment transactions which were predominantly either in cash or cheque.

The key benefits of APBS are;

  1. Eliminates inordinate delays, multiple channels & paper-work involved in the existing system.
  2. Transfers benefits & subsidies in a seamless & timely manner and directly into the Aadhar Enabled Bank Account.
  3. In case of change in bank account, customer is not required to convey the bank account details or change in bank details to the Government Department or Agency.
  4. Customer not required to open multiple bank accounts for receiving benefits and subsidies of various social welfare schemes – Customer just need to open one account and seed his/her Aadhar number in the bank account to start receiving benefits and subsidies directly into his/her Aadhar Enabled Bank Account.
PDCB started APBS facility since August 2015.

6. RTGS Fund transfer

Our bank has implemented ANY BANK / BRANCH Money Transfer facility to its customers with RTGS payment mode on MARCH 2014. Using this facility, one can receive / send payment from/to any other bank immediately who is a member of RTGS, located across the country. Every branch of our bank has a distinctive RTGS Code and the same can be seen in the RTGS / NEFT / IFSC / MICR Codes page.

RTGS facilitates quick funds transfer and settlement among the banks, for both Interbank and Customer transactions. It reduces the settlement risk, as payments are made online. This system is very much helpful not only for banks but also for customers, as payment / receipt is adjusted on the same day on real time basis.

In RTGS, Gross Settlement takes place continuously between 10.00 AM to 3.30 PM and return time is allowed within one and a half hours from the time of receipt of payment.
 
RTGS Outward Charges:
  • Rs. 2 Lakhs to Less than Rs. 5 Lakhs: Rs. 25 per transaction plus time varying tariff as below.
  • Above Rs. 5 Lakhs: Rs. 50 per transaction plus time varying tariff as below.
 
RTGS Inward Charges:
  • Free.
7. NEFT Fund Transfer

Like RTGS, the NEFT Service is useful for the seamless transfer of funds from one branch to another without any delay or procedural hassle. The operations and functions of the system are similar to RTGS. We have become active member of NEFT system and introduced a new product called PALAKKAD DISTRICT CO-OP BANK LTD e-Transfer (NEFT).

In NEFT, there are 7 hourly settlements (10 am to 5 pm) for a day. In order to complete the processing cycle on a near real-time basis, RBI has introduced the concept of return within 2 hours of completion of a batch. The payment instructions received by RBI within each settlement batch will be consolidated and distributed to payee’s bank after each settlement. Normally, payment transaction messages reach the receiving (beneficiary) bank within 15 to 30 minutes from the batch time. Banks are hard pressed to afford credit to beneficiary accounts immediately or else return the transactions within two hours of completion of the batch settlement.
 
NEFT Outward Charges:
  1. Up to Rs. 10 Thousand: Rs. 2.50 per transaction plus service tax applicable.
  2. Less than Rs. 1 Lakh: Rs. 5 per transaction plus service tax applicable.
  3. Rs. 1 Lakh to Rs. 2 Lakhs: Rs. 15 per transaction plus service tax applicable.
  4. Above Rs. 2 Lakhs: Rs. 25 per transaction plus service tax applicable.
  5. Above Rs.5 Lakhs: Rs.50 per transaction plus service tax applicable.
 NEFT Inward Charges:

For inward remittances, our customers are advised to instruct their counterpart to quote correctly the full 15-digit account number for inward payment to identify the branch and credit their account immediately. If the message received is without 15-digit account number it will be rejected and returned automatically.

8. Safe Deposit Locker

Safe deposit locker is a facility provided as an ancillary service by the bank to the customers.

The key features of safe deposit locker facility are;
  1. Wide availability of lockers in various sizes and at various locations
  2. Extended banking hours for accessing lockers
  3. Minimum period for renting out a locker is one year
  4. Lockers can be hired by individuals, limited companies, associations, clubs and trusts
  5. Nomination facility available
  6. Hassle-free payment option through standing Instructions.

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The Palakkad District Co-operative Bank Ltd. All rights reserved.