Open Any Bank CSP Easily In Just A Few days

Before talking about the process of opening Bank CSP, first, we need to know that what is Bank CSP?  So, CSP means Customer Service Point. It means that it is like a small branch of a bank where a customer can open an account, deposit or withdraw money or even apply for a loan. So, basically, it offers many services like the sbi main branch of any bank.

Why we need a bank CSP?

So, the question is that why we need a bank CSP? We need it to avoid rush or crowd in the main branch because due to huge rush or crowd, many important works are delayed or stopped in the main branch. Bank CSP offers many services with some limits like it offers limited transactions of money. This is how bank CSP solves the problem of huge rush or crowd. It is also helpful for people because they get another option apart from the main branch so that they save a lot of time and they do not have to travel a lot.

How to open a bank CSP?

Now, we are going to talk about how to open any bank CSP. First, there is no rule regarding the numbers of opening any bank CSP in a specific area. There may be more than one bank CSP in an area. You only need to talk to the branch manager of that bank. It totally depends on the branch manager. So, you need to convince him to allow you to open the bank CSP.

After getting permission from the branch manager, you need to find a business correspondent. So, first, we need to know that what is the business correspondent. So, the business correspondent is like an agent which works between you and the bank. Basically, they make a link between you and the bank and after that, they provide technical support and solve any bank-related problem. They also provide commission to you. You only work through a bank link and everything is provided by them. Every bank has many business correspondents.

What you need and how much you need to invest to open a bank CSP?

So, we are going to talk about how much money we need to invest and what we need to open a bank CSP. So, first, you need at least 100sq. feet house to open the bank CSP. There should not any business running in that house. It should be vacant for CSP. You also need at least one computer with a stable internet connection along with a printer. You also need a power backup like an inverter or generator, so that the important work doesn’t get stuck in the middle. Along with these, you also need an operator whose education qualification should be at least up to class 10th and he should also have good knowledge in computer. After that, the business correspondent will do further procedures like form fill up, police verification, etc. They also give a biometric device to you for Aadhar enable payment system. In return, they take a one-time registration charge. The registration charge should between Rs.7000 to Rs.25,000. So, these are the basic requirements for opening a CSP. 

How much will you earn after opening a bank CSP?

So, we are going to talk about income after opening a CSP. How much will you earn after open bank csp? So, it totally depends on the business correspondent. The income may vary from one CSP to another CSP. So, you need to find a good and honest business correspondent. The income is totally dependent on the commission given by the business correspondent. For every transaction, you will also get a small commission. Just like, for a deposit, withdrawal, fixed deposit, or loan, you will get a commission. You can also earn an extra Rs.50 to Rs.100 for opening an account. On average, you will earn at least Rs.15,000 per month from commission after opening a CSP and you will also earn an extra Rs.2,00,000 per annum by opening at least 2000 accounts in a year. So, by these procedures, you can open a bank CSP easily in just a few days.