Nodal Account

It allows businesses to automate all payments and settlement facility at their end. We provide APIs which can help respective business perform following functions seamlessly;

• Registration of beneficiaries via API
• Status check for registered beneficiaries
• Payment to multiple registered beneficiaries 24 X 7
• Status check of payments made to beneficiaries via API

RBL Bank Nodal Account facilities are RBI guidelines compliant set for Nodal account operations. NetBanking and corporate internet banking system do not come under the purview of same compliance rules. NetBanking access can be enabled, however, for viewing rights only.
 

Presently, RBL Bank Nodal account system support API integration only.

Yes, a current account needs to be opened prior to opening a NODAL account. The current account shall be used for raising invoices and collection of fees from the client / partners. Other, day to day transactions of an intermediary such as salary payments, vendor payments, statutory payments, utility payments etc. will be made from a separate regular current account of the intermediary.

Below is the process;

• NODAL account agreement execution between the client and bank
• Submission of duly executed agreement copy, deal visibility sheet and current account number & CIF ID, to product manager
• Sign and memo submission by product manager to ops team

Below is the list of offerings;

• View account balances and statement through Net Banking
• APIs to register the beneficiaries
• APIs to initiate payment requests to registered beneficiaries
• APIs to check status of transactions
• Reconciliation reports and MIS

Availability of multiple transaction modes, namely - NEFT, RTGS & IMPS.