| What is UCCA ? |
| The Premium Current Account Product of Union Bank suited for Traders and Business Class. |
| How many Categories/ Variants are there and what are they based on ? What is AMB for various categories /variants ? |
There are 5 variants /categories of UCCA .They are based on Average Monthly Balance
- 50,000 AMB
- 1,00,000 AMB
- 5,00,000 AMB
- 25,00,000 AMB
|
| Who chooses the category ? The Bank or the Customer ? |
| Customer chooses the category by executing a declaration to that effect, at the time of opening. |
| Who has the ownership of maintaining the AMB, the Customer or the Bank ? |
| The Customer has the ownership of maintaining the AMB. |
| When the Calendar month starts under UCCA ? |
| The Calendar month under UCCA starts from 26th date to 25th date of succeeding month. |
| Who can Open UCCA ? |
Individual, Proprietary, Partnership Firms, Joint Account Holders, HUF, Limited Companies, Trusts, Association, Co-operative Societies etc.
OR
Any entity other than Banks /Financial Institutions |
| What are the Free Fund Transfer limits and other benefits for various categories ? |
| Benefits |
AMB |
50,000 |
1,00,000 |
5,00,000 |
25,00,000 |
| Monthly Free Limits in Lacs.* |
250 |
500 |
750 |
No Ceiling |
| Daily Cash Deposits in lacs |
2 |
3 |
4 |
6 |
| Daily Cash Withdrawal limit |
Any amount at base branch |
Any amount at base branch |
Any amount at base branch |
Any amount at base branch |
| Monthly Free Cheque Book |
100 leaves |
100 leaves |
200 leaves |
Unlimited |
|
- For free fund transfer PO+DD+NEFT+RTGS+Intersol (other than cash deposit)+Standing Instructions+ Auto Sweep and Collection of Outstation Cheques are clubbed together.
- No separate fee for DDs on 18 RBI centers.
|
| What is Daily option? |
| Customer can opt monthly limit as specified above under different UCCA categories |
| Once an option is exercised it cannot be changed for 3 months |
| It is good for customers who have daily Outward Fund Transfer |
| What is Monthly option? |
| Customer can opt monthly limit as specified above under different UCCA categories |
| Once an option is exercised it cannot be changed for 3 months |
| It is good for customers who do not have daily Outward Fund Transfers |
| Whether DD /PO above limit is charged? |
| Yes as per the prevailing rates for general current accounts. |
| When the charges, over and above the free limits will be debited to the Account? |
| Charges as applicable over and above the limits will be debited to the Account with in one week of the completion of one month. |
| Can the unused Daily /Monthly limits be carried over? |
| No |
| What is the free outstation cheque collection limit for various categories of UCCA? |
| Out station cheque collection limit is clubbed with free remittance limit. There are no separate limits for free outstation cheques. |
| Whether the limits are regulated on lodgement basis or realization basis? |
| Collection Cheques are regulated on Realisation basis, as per prudent Banking practice. |
| How a Returned Collection Cheque is treated? |
| Return Cheque will attract usual service charges as per the extant guidelines. |
| Whether outstation cheque collection over and above the limit is charged? |
| Yes as per the prevailing rate of normal current accounts. |
| What is meant by Upfront facility? |
| Concessions, as above, are extended from day one to the customer, provided AMB Rs 1.00 lacs is maintained. |
| What is Customer Account OR Any Account Facility? |
| Facilities including concessions can be availed through any Account viz. SB/CD/CC/OD/PC and in any UBI Branch by the UCCA holder. |
| In that case, the daily or monthly limits are the same or different for a Customer? |
Of course, whether he avails through UCCA or Any Account, in one Branch or Any Branch the limits are same.
Transactions in all accounts are Clubbed, and to be within the limits of chosen category. |
| In the case of Customer availing facilities through CC (Hypo) or any other Account, which Account will be debited if he exceeds limit? |
| Over the limit charges will be debited to UCCA [not CC (Hypo) Account or any other Account] |
| What is meant by Auto Sweep? |
| Auto Sweep means Automatic Transfer of Fund from one account to another account of the customer with same Customer Id. |
| In case CC (Hypo) A/c is chosen to operate by UCCA holder, will required amount be automatically swept by System to honour a Cheque? |
| YES. But Reverse Sweep from CC / OD /PC is not permitted, since the prudent conduct of Borrowal Accounts insists end use/DP. |
| In case of PC operative UCCA holder how Auto Sweep will operate? |
| No. Auto Sweep does not operate since PC Account credits are allowed only in Foreign Exchange. |
| What is Auto Roaming Facility? |
| UCCA customer will get automatically roamed up or down his category, based on previous month's AMB. |
| Upward AMB entitles Higher facilities. |
| Downward AMB entitles Reduced facilities. |
| Downward AMB below the chosen category attracts Penalty. |
| Whether penalty is charged for non-maintenance of AMB? |
| No penalty till AMB falls below ` 50,000 that too normal rate. |
| Are there any Exit Clauses? |
| There are no forced exit clauses. |
| What are the benefits to Customer? |
| Free Fund Transfer. |
| Free Cheque Collection |
| Free Cash Deposit / Withdrawal |
| Free Cheque Book |
| Shrink Transaction Cost |
| Efficient Fund Management. |
| Widens Business Horizon |
| Increase in Net Profits |