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Looking for an efficient online merchant multiplier account to manage your cash deposits? IDFC FIRST Bank offers a first-of-its-kind comprehensive range of merchant account services, with a capability to handle higher cash deposit requirements linked to POS and UPI QR cumulative throughput in a monthRead More
Go ahead and open a merchant multiplier account today!Read Less
With IDFC FIRST Bank you can leverage these merchant services:
Here’s what you get:
Apply for our merchant multiplier account if you fall into the below mentioned criteria
Open a merchant account with ease once you have the following documents in place:
Hindu Undivided Family
There is no monthly, minimum average balance that need to be maintained in your Merchant Multiplier Account.
No, Merchant Multiplier Account is exclusively for merchants opted for POS and UPI QR.
Free cash deposit limit in Merchant Multiplier Account is 20 times of POS + UPI QR throughput for the month, up to 30 lacs. Beyond 30 lacs, charges will be applied as per SOC.
Current month’s throughput will be considered for determining free cash deposit limit for the month. For cash free limit calculation for the month of September will be based on total throughput from POS + UPI QR for the month of September.
There is no base limit of cash deposit in Merchant Multiplier Account.The cash deposit limit is 20 times the POS + UPI throughput. If the monthly POS + UPI QR throughput is zero, then the customer will be charged on the entire cash deposit.
The Merchant Multiplier Account will be continued in the same product variant, we recommend customers to contact the Branch Manager or their Relationship Manager (RM) to switch to another suitable variant.
Average Monthly Balance (AMB) of your Merchant Multiplier Account is the average of day-end balance in the account for all the days in a month
You can track your IDFC FIRST Bank Merchant Multiplier Account through the following modes:
Here are some of the digital payment and receivable solutions through which you can gain edge in the competitive market –
Here’s the list of merchant services that will help you facilitate your international business requirements -