FUND TRANSFER

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Transfer Money Online through FedNet

Federal Bank offers you transfer money online to your own accounts or to other accounts in the bank or to accounts with other Banks.

  • Features & Benefits
  • Eligibility
  • Transaction Limits
  • How to Transfer Money Online
  • Access your account anytime, anywhere.
  • Transfer Funds to your own or other Federal Bank Account or Non-Federal Bank Accounts.
  • Safe, Secure and Fast method of transferring funds.
  • Nomination Facility available.
  • Higher Transaction limits can be assigned on submitting an application for the same to the branch.

Customers of Federal Banks are eligible for FedNet Facility through which Funds Transfer can be performed.

Activation

  • Fund Transfer facility can be activated either through FedNet itself via Soft activation or by sending the signed acknowledgement portion of the PIN mailer

Default Category:

  • Transaction Limit Between Own Accounts- Rs.2,00,000
  • Transaction Limits for another Federal Bank Account or 3rd Party Account- Rs.30,000

FedSilverNet:

  • Transaction Limit Between Own Accounts- Rs.2,00,000
  • Transaction Limits for another Federal Bank Account or 3rd Party Account- Rs.50,000

FedGoldNet:

  • Transaction Limit Between Own Accounts: Unlimited
  • Transaction Limits for another Federal Bank Account or 3rd Party Account- Rs.1,00,000

FedPlatinumNet

  • Transaction Limit Between Own Accounts: Unlimited
  • Transaction Limits for another Federal Bank Account : Rs. 5,00,000/- or 3rd Party Account- Rs.2,00,000

Online banking makes transferring money between bank accounts easier than ever. Using FedNet, our Internet Banking facility, you can make fund transfer online. FedNet provides you various modes of fund transfers to your own accounts as well as to third party accounts maintained within our Bank as well as with other Banks.

Through online banking facility, you will be able to transfer money:

  • From your Federal Bank account to your another Federal Bank account
  • From your Federal Bank account to any other Federal Bank account
  • From your Federal Bank account to account with any other Bank

Using FedNet, you can make fund transfers through any of the following modes:

NEFT National Electronic Fund Transfer (NEFT) is a nation-wide payments system that allows the transfer of funds from one bank’s account to another 24 x 7, 365 days. With an increased focus on online banking, NEFT has become one of the most popular ways of transferring funds. Since it can electronically transfer funds from any bank branch to any individual, it has eliminated the need to visit a bank branch for transfer of funds. NEFT is known to be one of the most cost-effective and convenient online money transfer options. Regulated by the Reserve Bank of India (RBI), NEFT is available on internet banking and mobile banking services provided by most banks in India. NEFT transactions are processed in batches and the funds are settled based on the cut-off time specified by RBI.
RTGS The acronym 'RTGS' stands for Real Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds individually on an order by order basis (without netting). 'Real Time' means the processing of instructions at the time they are received rather than at some later time. 'Gross Settlement' means the settlement of funds transfer instructions occurs individually (on an instruction by instruction basis). Considering that the funds settlement takes place in the books of the Reserve Bank of India, the payments are final and irrevocable. It is a safe and secure system for funds transfer. RTGS transactions / transfers have no amount cap. The system is available on all days on 24x7x365 basis. There is real time transfer of funds to the beneficiary account. 
IMPS

Immediate Payment Service (IMPS) is an instant payment inter-bank electronic funds transfer system in India. IMPS provides robust & real time fund transfer which offers an instant, 24X7, interbank electronic fund transfer service that could be accessed on multiple channels like Mobile, Internet, ATM, SMS. 

To know more about making IMPS based fund tranfers through FedNet Internet Banking, please click here.