NSE: 

EFEE - School Fee Collection Services

EFEE - School Fee Collection Services

E-Fee is the fee collection solution which has been developed for educational institutions to make the fee collection process free of hassles. 

  • Features and Benefits
  • Requirements
  • E-Pay
  • M-Fee
  • ECS / NACH
  • Payment Gateway
  • Internet Banking

Features

  • E-Fee collection can be done in the form of Cash/Transfer/Clearing.
  • Additionally the parents having account with us can register for Auto Debit facility for collection of school fee. The amount will be debited automatically from the account of the parent as per the data given by the institution.
  • To provide convenience to the parents we have extended the E-Fee facility to mobile banking through the menu option "M-Fee" in FedMobile.
  • Going forward we have developed a portal for payment of school fee through Debit/Credit cards of any bank and also FedNet. 

Benefits

 
  • Fee Remittance facility at any branch of Federal Bank
  • Supports collection of Late Fees as flat amount or as late fees
  • Amount that is incremental on a monthly/daily basis can be collected. 
  • Supports crediting of fees to different accounts based on Fee Type- like tuition fee, bus fee, book fee, etc
  • Remittance by Cash or Cheque.
  • Instant credit to Institution's Account with the Bank.
  • MIS reports provided to the institution on a daily basis in uploadable format thus avoiding any data entry at institution.
  • Easy reconciliation
  • Periodic Defaulters' Report
 
  • Fee collection Account of Institution to be opened with us
  • The institution shall provide the student data and fee data in a prescribed template
  • The data so provided will be uploaded in Federal Bank's Core Banking System
  • Once uploaded, the fee data will be available across all branches of Federal Bank
  • When new students join, their data shall be provided by the institution in the same prescribed format on a weekly/monthly basis for upload in the system
E-Pay is the auto debit of School Fee from the Parents' account. The parents can open accounts in any branch of Federal Bank.
 
  • By filling a mandate, the fee amount will be automatically debited from the parent's account as per the details given from the institution/school.
  • Parents need not worry about the due date as the fee will be taken from the account automatically.
  • Useful for parents who are working abroad.
  • The institution shall collect the EPay Registration forms related to the students, whose data has been so furnished, from the parents and submit it to the our branch along with the data.
  • Once the files are uploaded in EPay, the fee collection will commence 15 days (configurable) prior to the due dates and the due amount as on date will be collected automatically, provided there is sufficient balance in the account.
  • When new students join, the above procedure to be followed for such students preferably on a weekly/monthly basis.
  • Daily fee collection reports will be sent to the institution by email and periodic defaulters' report will also be made available to the institution.
  • Payment of fees through mobile banking is enabled through M-Fee.
  • Parent shall have a Mobile Banking registered Federal Bank Account
  • The institution and student ID has to be selected in the FedMobile, our Mobile Banking Application.
  • The fee details will be fetched.
  • The parent can pay the fee through the mobile after confirming the data and entering their password.
ECS/NACH mode can be used by parents who have accounts with any other Bank. Under this mode, Parents can fill and submit the ECS mandate to their respective bank. This needs to be done only once. Parents may opt for a higher ceiling in the beginning so that the amount can be debited accordingly as per the school fee requirements. Parents can avoid coming to a bank to pay the fee.
 

Benefits

 
  • Easiest way for School Fee collection – Convenient for Schools as well as Parents.
  • No queues – Parents need not visit our branches and they need not have their accounts with us. They can have their accounts with any bank.
  • Institution will get bulk credit of funds in single day.
  • Comprehensive reports for institutions
  • Facility to collect the fees as monthly / quarterly / half yearly basis.
 

How it works

 
  • School / Institution needs to obtain a user code and username from NPCI through sponsor Bank (Federal Bank)
  • School shall maintain account with us
  • School shall collect the ACH mandates from parents.
  • The mandates will be scanned and electronically sent to other bank for approval.
  • School shall provide the fee details periodically, if it is variable fee
  • School will get bulk credit of school fees 
  • Fee payment can be done through Federal Bank's payment gateway at Easy Payments, the dedicated payments portal of Federal Bank. 
  • School's availing this service will be listed at our payment gateway' portal
  • A link to the payment gateway can be provided at the School's website
  • Payment can be done using any Bank's Debit/Credit Card
  • Visa/Maestro/ MasterCard accepted
  • Parents can pay through Internet Banking of any bank through Easy Payments, the dedicated payments portal of Federal Bank.
  • Safe, Instant and Easy payment method for fee payment.
  • The School's name can be chosen from a list, then the students ID has to be entered to get the fee details.
  • Payment can be done securely through Net Banking using password and 2 Factor Authentication (2FA).