ICICI Bank CUG Wallet which stands for “Closed User Group Wallet” is a type of mobile wallet which is like a normal wallet with the only difference is that you can use it to make online payments. So before explaining CUG Wallet in detail, we will give a brief overview of what is a mobile wallet.
Mobile Wallet is basically an online payment service using which any user can receive money or send it to anyone. In other words, a mobile wallet is similar to a bank account opened on a mobile in which the money is stored like digital money.
Like you create any other accounts online, a mobile wallet is also a virtual account through which you can make transactions from your mobile. A mobile wallet is mostly used through mobile apps, but any person can also use it through the website of the service providers like Amazon, Paytm, or banks like ICICI bank, etc.
What is ICICI Bank CUG Wallet?
As mentioned above CUG wallet or Closed User Group wallet is one of the types of mobile wallet which is linked to a merchant or private company where the money in the wallet can be used to purchase or do online transactions directly from any specific merchant.
When any service provider like ICICI Bank adds money into CUG Wallet, then any user can use that money to make online transactions or to purchase products from that company only.
Some other examples of CUG wallets are Flipkart wallet, Amazon Pay Wallet, etc.
In simple words, the money added to the CUG Wallet can be spent only to make purchases from a particular service provider. It means, if you have an ICICI Bank CUG Wallet, then you can only use this wallet for getting services from ICICI Bank only. One example of such service is that, with your ICICI Bank CUG Wallet, you can do online transactions like recharging your Fastag purchased from ICICI Bank.
Benefits of ICICI Bank CUG Wallet
There are various benefits of using CUG Wallet which is as below:
Many rewards and offers like cashpoints are offered by the ICICI Bank to the CUG Wallet users.
You can easily recharge or add money to your Fastag account by using CUG Wallet.
If you can any order placed through CUG Wallet, then your money is fixed and saved with the service provider eg. ICICI Bank in this case.
Because CUG Wallets can only be used to make transactions to and from the particular service provider only, so they are completely safe and secure.
Keep in mind that using CUG wallets you can’t withdraw money because they are created exclusively to purchase products or use services from the particular issuer only.
How to recharge Fastag through ICICI Bank CUG wallet
The steps required to recharge a Fastag through ICICI Bank CUG wallet are mentioned below:
Step: 1 Login FASTag portal ↦ Payments ↦ Recharge Account
Step: 2 Select Pay to CUG Wallet useful for Multiple Vehicles Select Pay to Tag Accounts useful for Individual Vehicles Note: Pay to CUG Wallet ↦ AMT will load to CUG Wallet | Pay to Tag Accounts ↦ AMT will load to individual Vehicles.
Step: 3 Confirm your payment by selecting “Make Payment” option.
Step: 4 Select convenient payment gateway Debit card /Credit Card / Net Banking / Cash card / Wallet.
Step: 5 Successful completion of payment, the amount will reflect your CUG Balance (Or) Tags Account (Current Balance).
Step: 6 Manual Transfer from CUG to Tag Accounts. Login portal ↦ Payments ↦ CUG Balance Transfer
Step: 7 After selecting a vehicle, and Click on “Add”. Enter the required amount and “Submit” option
Step: 8 Auto Recharge Transfer from CUG to Tag Accounts (Useful for Multiple Vehicles).Auto Recharge is a standing instruction for transferring amount automatically from CUG Wallet to Tags Account, based on Minimum Recharge Balance (Or) Maximum Recharge Balance.
Example: Refer below screenshot ↦ If Tag Account balance goes below minimum balance of Rs.500; AMT of Rs.1000 will be automatically pulled from CUG wallet transfer to Tag Accounts.
Login FASTag portal ↦ Payments ↦ CUG Master Accounts ↦ select “Auto Recharge” ↦ Select Tag Accounts↦ Fill Minimum Recharge Balance AMT and Maximum Recharge Balance AMT ↦ Date for start Auto Recharge “Activate” option ↦ it will show the message “Inserted Successfully”.
**You can activate and deactivate standing instruction and change the amount as per your convenience at any time.
ICICI Bank launched the facility for balance inquiry through SMS and Missed Call.1.
- For SMS – Send ETCBAL <vehicle Reg No> to 56767662.
- For Missed Call – Give a missed call to 8010928888
The request must come from the registered mobile number for both SMS and missed calls.
Standing Instructions (Only for ICICI Bank Saving Account Customers).Login FASTag portal ↦ Payments ↦ Standing Instruction ↦ select “Adhoc” ↦ enter Threshold AMT ↦ enter Top-up AMT ↦ Select “Start Date” Date ↦ “submit” options ↦ screen will pop up enter net banking user id and password for ICICI BANK saving account. For example, refer to the screen below. If CUG balance goes below the threshold amount of Rs.10000. Top-up of Rs.15000 automatically will get a transfer from the ICICI BANK savings account.
Login FASTag portal ↦ Payments↦ Standing Instruction ↦ select “Scheduled” ↦ Type Required AMT ↦ Date for start Standing Instruction ↦ “submit” option. Enable Standing Scheduled ↦ Scheduled by Weekly / Monthly /Quarterly.
Disclaimer:↦ * For Adhoc SI, the first SI shall be executed on the start date mentioned. Later on, whenever the FASTag CUG wallet balance goes below the threshold amount, an SI will be executed within the amount mentioned in top-up amount (Adhoc).
↦ *For Weekly SI, the SI shall be executed on the mentioned date and after every 7 days, till the SI is disabled (Scheduled).↦ *For Monthly SI, the SI shall be executed on the mentioned date and after every 30 days, till the SI is disabled (Scheduled).
↦ *For Quarterly SI, the SI shall be executed on the mentioned date and after every 90 days, till the SI is disabled (Scheduled).
↦ *The Standing Instruction once enabled shall be considered Active unless opted out/Disabled.
↦ *Please maintain adequate balance in your account to execute the standing instruction and credit ICICI Bank FASTag.
↦ *If there’s inadequate balance in the linked account to complete the SI, the system will trigger 3 attempts to debit the account and complete SI. If all three debit attempts fail, the SI will be permanently disabled.
Fastag Banks list with Customer Care Number
|Sr No.||Issuing Bank||Customer Care Helpline No|
|4||State Bank of India||1800-11-0018|
|6||Karur Vysya Bank||1800-102-1916|
|7||EQUITAS Small Finance Bank||1800-419-1996|
|8||Paytm Payments Bank Ltd||1800-102-6480|
|9||Kotak Mahindra Bank||1800-419-6606|
|12||South Indian Bank||1800-425-1809|
|13||Punjab National Bank||080-67295310|
|14||Punjab & Maharashtra Co-op Bank||1800-223-993|
|16||Fino Payments Bank||1860-266-3466|
|17||City Union Bank||1800-2587200|
|18||Bank of Baroda||1800-1034568|
|22||Nagpur Nagarik Sahakari Bank Ltd||1800-2667183|
|23||Airtel Payments bank||400|
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