Many small and medium size societies face the problem of manpower; it becomes difficult for the members to manage all the banking operations. Hence, to overcome this problem of society office bearers, Society123.com has entered into a MOU with Mogaveera Co-operative Bank Ltd. This system will make society banking effortless than ever before.
» The MOU will help the members with the following benefits :
- The Society/Bank/Society123.com will further install a Cheque Collection Box in the society premise
- The Bank representative will collect all the cheques from the Cheque Collection Box on a pre-agreed date and will simultaneously deposit them in the Society's Account
- Once the access permission is granted to the Bank, the bank will take away the entire burden from the Society members by entering all the cheque details in the member payment module
- Once the permission is granted, the bank shall upload the Statement of Accounts in the appropriate Module of Society123.com to further eliminate the manpower from the banking operations
- To avail these facilities, it is mandatory for the Society to open an Account with the Mogaveera Co-operative Bank. The society members need not to be a compulsory customer of the Bank; however the Bank welcomes each member to enjoy and access the latest banking facilities by opening an account with them
- The Mogaveera Co-operative Bank will itself come to your doorstep to endow you the benefits of this easy banking.
- Society123.com will ensure that the personal details of the members like payment details, billings and other accounts are not accessible to the Bank.
Enjoy easy and friendly society banking by efficiently managing your society account and transactions with Mogaveera Co-operative Bank Ltd. and simultaneously with Society123.com.
(Note: This Feature is currently available through an MOU with Mogaveera Co-operative Bank Ltd. However, to make the banking operations more efficient and quick, Society123.com may further get into similar agreements with other Banks in the near future.)