Rajiv and Shashi bump into each other in a café at the weekend and the following conversation unfolds:
Rajiv: I am very busy these days, but I need to visit the bank to deposit one cheque.
Shashi: It happens. Why don’t you go for doorstep banking services (DSB)? It is a facility offered by banks where the depositor need not personally visit the bank but gets the basic services at their home through an agent of the bank.
Rajiv: Really!! Tell me more.
Shashi: Banks have divided their services into two types — financial and non-financial. Financial services include pick-up (deposit) and delivery (withdrawing) of cash. Non-financial services include negotiable instruments (Cheque/Draft/Pay Order, etc.), account statement, IT/GST challan, chequebook delivery, etc. Some banks facilitate opening of new accounts and fixed deposits as well. It must be remembered that DSB is provided only at the communication address with the bank. The charges for financial and non-financial services may vary accordingly.
Rajiv: Can all customers avail this facility?
Shashi: Initially this service was started for senior citizens and differently-abled customers but now many banks offer it to all resident customers who are KYC-compliant. DSB is only available at select branches, so customers must check with the bank’s website if their branch provides these services.
Rajiv: Is there an additional cost for it?
Shashi: Yes, generally it is chargeable. The charges vary from bank to bank. SBI offers Cash pick-up/drop at ₹75 plus GST, pick-up of cheque or chequebook requisition slip at ₹75 plus GST whereas the current account statement (duplicate) will cost ₹100 plus GST. ICICI Bank, on the other hand, provides all services for free as it offers doorstep banking only to depositors who are 70 years or older, differently-abled, or visually impaired.
Rajiv: How do we avail of these services?
Shashi: Depositors must make an application to the bank requesting doorstep banking services. Once this request is made, the customer will get a confirmation message. Customers can then call the toll-free to book a request for DSB, then the details of the agent will be shared with customer so that they can coordinate. Customers will be given credentials based on the type of request, which needs to be put in the web portal in the mobile carried by the DSB agent. The DSB personnel may ask for ID proof of the depositor for confirmation, similarly it is advisable that depositors also check the ID of the agent. Customers can also avail this service through their mobile banking applications.