FEDNET FUND TRANSFER
FedNet Fund Transfer
FedNet is one of the most secure and user friendly internet banking facilities. You can transfer funds between your own accounts or to other accounts using FedNet fund transfer facilities.
- Features & Benefits
- How to apply ?
- Transaction Limits
FedNet has the inbuilt facility to provide different types of access to customers.
- View the Account
- Do online transactions.
Who can Apply?
- 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.
Submit Application Form
- Register by submitting the FedNet application
- Download the FedNet Application at the branch where you have 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.
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.
For the safety and security of our customers, Federal Bank has set some limits on the Funds Transfer in FedNet.
By default, a customer can transfer funds:
- up to Rs. 2,00,000/- between his own accounts with Federal Bank
- up to Rs. 30,000/- to a third party account with Federal Bank (adding as beneficiary)
- up to Rs. 30,000/- to any other Non-Federal Bank account.
- up to Rs. 30,000/- for online payments
Two factor authentication is compulsory for all transactions. If customer wants higher transaction limits, he may choose any of the following schemes. For availing higher transaction limits, you may login to FedNet and submit a request by clicking "Requests" menu and selecting the option "Enhance Transaction Limit"
Transfer limit Between own accounts
To any other account of Federal Bank
To account of any other bank or Bill Payments
Option for customers to increase transaction limits by online request (Silver Net)
|<p "=""> Unlimited|| |
Up to Rs.1.00L
Up to Rs.1.00L
|Up to Rs.1.00L|
Option for customers to increase transaction limits by online request (Gold Net)
Up to Rs.10.00L
Up to Rs.5.00L
|Up to Rs.3.00L|