saraswatbank.com SMS Banking : Saraswat Bank

Organisation : The Saraswat Co-operative Bank Ltd
Facility : SMS Banking

Website : https://www.saraswatbank.com/

SMS Banking :

SMS Banking brings the Banking at your fingertips. Bank has introduced the SMS Banking Facility for its customers.

Related : Saraswat Bank Apply for 3-in-1 Account : www.statusin.in/23406.html

Under SMS Banking following facilities are offered to the customers.
** Welcome message on New Account Opening
** Latest Balance in the Account

** Details of the last 3 transaction in the account.
** Transaction Alert for all transactions through ATM/POS/E-Commerce and Netbanking and other transactions above Rs 5000/-

** Alert for Sweep In Sweep Out facility (Sweep In Sweep Out facility available for Elite Accounts only)
** Alert for dispatch of Chequebook/Visa Debit Card

Kindly note following points before sending an SMS :
** All the below-mentioned SMS requests should be sent through the registered mobile number only.
** The keywords are case-sensitive.

** Please do NOT type the pointed or square brackets in your SMS.
** There should be a single space between each word in the syntax.
** You have to type the product (e.g. SBPUB) and the account number (e.g.12345) in the keyword.

The keywords and their syntax for SMS Requests are given below :
Mobile Banking Number – 9223810000

About Us :
The Bank has a very humble but a very inspiring beginning. On 14th September 1918, “The Saraswat Co-operative Banking Society” was founded. Mr. J.K. Parulkar became its first Chairman, Mr. N.B. Thakur, the first Vice-Chairman, Mr. P.N. Warde, the first Secretary and Mr. Shivram Gopal Rajadhyaksha, the first Treasurer

Contact Us :
The Saraswat Coop Bank Ltd,
Saraswat Bank Ekanath Thakur Bhawan
953, Appasaheb Marathe Marg Prabhadevi
Mumbai- 400 025

FAQs :
1) I am doing a large cash withdrawal (above Rs. 10 lacs) and the cashier is insisting that I should provide him information on the purpose of withdrawal. After all, I am withdrawing money from my own account and therefore, why should I share this information with the Bank?
The extant regulations of RBI require the Banks to closely monitor the large cash transactions and the teller is just discharging his regulatory obligation.

Such an information assists the Bank in identifying any unusual transactions that are being routed through it.

2) You are repeatedly mentioning that the extant regulations of RBI and the rules notified under Prevention of Money Laundering Act, 2002. What do they really talk about and try to achieve?
The regulations and the rules referred to above deal with what is called as an initiative of Anti Money Laundering (AML) and Countering the Terrorist Financing (CTF).

These rules and regulations try to prevent the process of money laundering (i.e., the process of dealing with criminal proceeds and projecting it as untainted property through banking channels) and financing of terrorism related activities.

The regulations, in the broadest sense, require the banks to know their customers (popularly known as the Know Your Customer or KYC regulations) and to monitor their transactions.

Further, specified information under the PMLA about the cash and suspicious transactions need to be submitted to the Financial Intelligence Unit, India (FIU-IND, a Government of India department, which analyses and forwards the intelligence information to the law enforcement agencies).

Compliance with AML regulations assists the banks and the society at large in keeping a close watch on the transactions to identify suspicious transactions, if any, and thereby provide intelligence information (through reports to FIU-IND) to the law enforcement authorities to deal with such transactions as per the applicable laws and regulations.

Co-operating with the Bank by providing required information, assists the Bank and the society in a long way in their fight against money laundering and terrorist financing.