Fed Net

 

What the Customer should do?

A customer who wishes to access his/her accounts through Internet has to register by submitting the FedNet application Download it at the branch where he/she is having the account. If the account is maintained by more than one person (irrespective of the various modes of operations like, Joint / Either or Survivor etc), mandate in favor of the user (operator) in the specified form also should be submitted along with the application. There are separate mandate forms Download it for individual accounts and Partnership/Trust/Company etc accounts. Mandate form should be signed by all the account holders/signatories. In case accounts in more than one branch are to be linked, customer can submit the FedNet application to any one of these branches.
Fed Net

FedNet has the inbuilt facility to provide different types of access to customers.

  • View the Account
  • Do online transactions.


Normally transaction facility will be activated only if specifically requested by the account holder. Account View means that the customer will only be able to view his account details. He will not be able to do any transfer of funds or any other transaction.

Type of Accounts

All deposit accounts (Resident or Non-Resident) and loan accounts can be registered for FedNet facility. 

In the case of Partnerships accounts or companies/Institutions account if Partnership Deed or Memorandum/Articles of Association specifies that operation of the account shall be with the signature of two or more persons jointly, FedNet facility cannot be provided in the account.

Accounts in which minors are involved are also not eligible for FedNet Registration.


Processing of application.

Once the registration is completed at the respective branches, PIN mailer containing user id and passwords will be sent to the account holder by post. An email intimation also will be sent to the account holder to the email address given in the application, intimating the despatch of PIN mailer.

Activation of facilities.

Customer can enable the Fund Transfer facility either through FedNet itself via Soft activation or by sending the signed acknowledgement portion of the PIN mailer back. The acknowledgement should be signed by the applicant himself and the signature should match with that in the application. For accounts which are not operated singly, the acknowledgement should be signed by the mandate holder.

Transaction limits for Fund transfer.

Different transaction limits has been set for fund transfer in FedNet. By default, a customer will be able to transfer funds upto Rs.2,00,000 between his own accounts, upto Rs. 30,000 to any account of Federal Bank as well as upto Rs.30,000 to any Other bank account. If customer wants higher transaction limits, he may choose any of the schemes- FedSilverNet, FedGoldNet and FedPlatinumNet based on his account category.
Category Transaction limits
Between your own accounts		 To any other account of Federal Bank To account of any other bank
Default Rs.2,00,000 Rs.30,000 Rs.30,000
FedSilverNet Rs.2,00,000 Rs.50,000 Rs.50,000
FedGoldNet Unlimited Rs.1,00,000 Rs.1,00,000
FedPlatinumNet Unlimited Rs.5,00,000 Rs.2,00,000

How to avail higher transaction limits

For availing higher transaction limits, you may please download the Application Form for Higher Limit. (Click here). Please take the print out of the form and duly filled application form should be sent to your branch.

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