1IBFT Over the counter (1IBFT OTC)

1IBFT Over the counter (1IBFT OTC)

1IBFT OTC is an innovative service to facilitate consumers for easy and quick transfer of funds from sender’s bank account and/or handover cash at participating member banks to be transferred to receiver’s account in any bank. It provides an additional over the counter interface to banks for 1IBFT. Banks are provided with a web interface on the portal (BPS & IBFT) provided by 1LINK or they can integrate and consume 1LINK’s provided API in their own banking interface.

Member Banks can offer the 1IBFT OTC service specially to those accounts holders who are reluctant to use Bank’s ADC channel for transferring funds and hence rely on traditional paper-based instruments.