Introducing One-Tap Funds Transfer for ICICI Bank account holders on Dhan

I would like to suggest IDFC First bank to be added to your one-tap funds transfer feature.

@Pranita @PravinJ When using this facility I did a test transaction. In the statement in ICICI mobile app it never say anything which can relate the transaction to Dhan One tap Funds. No description just Debit trxn and id. How can I verify at end of month ? use some description when deducting the funds so it reflects in the statement for easy checking.

And 2nd thing What is the minimum and Max transaction for this facility?

Hey @Sahil ,

Apologies for the late revert. Let us check with the bank for entries in your ICICI Bank statement. There is no minimum amount for fund addition & max limit is 5 cr with the 3 in 1 facility.

Thanks,
Pranita

Isn’t that ₹100 to be minimum amount to be added?

Okay, Let me know when you have any update for Bank entries description. Ideally it should say Dhan in the Entry just random number are not very useful info just a feedback.
Thanks :victory_hand:

@Sahil I basically use NEFT to transfer money from ICICI which ideally takes around 15 mins. I understand that it has a delay and additional step of opening the bank app to transfer but its ok because 15 mins doesn’t hurt for my scenario. I am looking at one-tap but my confusion is the same as what comes in my bank statement which can help me. When I do NEFT, it comes as Moneylicious as the beneficiary. What happens in one-tap and what is the destination account that you see?

Does linking ICICI a/c, turns Dhan A/c into 3-in-1 Account?

@nitishbangera The one tap thing works extremely well super smooth and lightning fast I haven’t experienced anything like it before, once you use it you will forget everything else. They have done a very good job on it. But they missed on this small important detail of some clear description in statement and transaction email which we get from ICICI on statement it shows only this “Debit Trxn BRK/NA/2026846XXXXX” Basically some random transaction number nothing mentioned as DHAN or Moneylicious or anything that’s the only con as of now. I hope @Pranita will take care of this issue maybe not immediately but in the near future that still works.

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You can watch the intro video to get clarity

This is good. Well will wait till the message issue is sorted.

BRK/NA/ is already unique in itself, i don’t understand why people want narration in statements to change

I don’t think any other transaction will have this BRK/NA/ in narration.

This one tap transfer is one such feature which is bug free and seemless from Dhan

Hi @Pradumya This is narration given as per bank, we will check if there is flexibility at the bank’s end to update it.

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Ji @PravinJ sir, I don’t mind having the existing narration or any other narrations in statement as long as it remains unique. I simply refer to BRK/NA/ transactions as Dhan add money transactions.

exactly! it’s not really a concern at all. you can easily anyways get the statement from broker regarding funds added/withdrawal. it’s not like we’ve used this one tap facility to buy vada pav or panipuri. it’s trading account so amount and frequency of transactions won’t be much and we can easily bifurcate which one are for trading account so not really an issue IMO.

Hey @Sahil ,

We have made the necessary changes in the narration. Let us know if it helps!

Thanks,
Pranita

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@Pranita Can you share what would the narration look like now when we use the ICICI One Tap from Dhan?

@Pranita Any plans to integrate Other Banks as Well?

You have forgotten Nifty, Banknifty & Finnifty heavyweight - HDFC Bank & PSU Heavyweight in it(SBI) :angry: …

Hi @Pranita , I checked it’s working now as expected. Thanks, It would have been nice if it would have said “Dhan” instead of Raise Securities but I’m sure that would be for technical or legal reason. But it’s fine.

Thanks,
Sahil

Hey @Sahil What is the narration that you see now when you use one-tap?