5 Claim Money – Request initiated by an existing (registered payee)

This topic provides the systematic instructions for registered payees to request claim money.

Once a user has registered himself as a beneficiary of peer to peer payments, the account identified as the account in which funds are to be credited will be maintained in the bank’s database. Hence, when the beneficiary logs in to initiate subsequent claim money requests, the same account will be available for selection. Alternately, the beneficiary can also identify any other account to be credited with the fund transfer. This account can be either held with the bank or in an external bank.

Hence, when the existing customer logs into the application using the credentials, and claims money for the second time, he gets two options:

  1. Receive a payment with the same account details:
    The customer can claim money using the same bank account which he has already used to claim money for the first time.
  2. Update new bank Account details:
    The customer can also opt to add another account number of the same bank or account number of other bank.