About Corporation Bank Net Banking Facility
The net banking facility offered by Corporation Bank, also known as Corp Net, allows its customers to access various banking facilities from the comfort of their home or office. The process to avail this facility is easy.
Individuals must opt for the Retail Banking facility, whereas accounts that are operated jointly, or belongs to a limited company, partnership firm, etc., must opt for the Corporate Banking facility.
In the case of Retail Banking, the User ID and password are provided, and individuals can use these details to log in to their internet banking portal. However, in the case of Corporate Banking, a Domain ID along with a number of User IDs and passwords will be provided to individuals that will need access to the account. Payment rights are provided to the User IDs that the customer specifies and viewing rights will be provided to all User IDs.
Features and Benefits of Corporation Bank Net Banking
The main benefits and features of Corp net banking facility are provided below:
- Accounts details such as the balance, various transactions, etc. can be viewed online.
- Account statement can be sent to the email ID and downloaded.
- In case of any loan accounts, details can be viewed online.
- Funds can be transferred to own accounts, to other Corporation Bank accounts, as well as to third-party accounts.
- Beneficiaries can be added in case of fund transfers.
- The status of the payment can be checked.
- Credit card payments can be made online.
- Term deposits can be opened online.
- Fixed Deposits and Recurring Deposits can be opened online.
- Payments of cheque can be stopped online.
- Demand Drafts can be requested.
- Cheque books can be requested.
- Direct and Indirect Tax payments can be made online.
- Utility payments can be made.
- Bus and railway tickets can be booked.
- Contact details and password can be changed.
What is the Process to Activate or Register for Corporate Bank Net Banking?
The step-by-step procedure to register or activate the Corporate Bank internet banking facility is mentioned below:
- Individuals must visit the official website of Corporation Bank and download the Retail Banking or Corporate Banking form.
- The form must be filled and submitted at the bank where the account is held.
- You will receive your User ID and password by post within 2 weeks from when the application form was submitted.
- Next, you will need to visit the internet banking page and enter the User ID and password.
- Next, you need to enter your User ID and click on ‘Continue’.
- Next, you will need to enter the password and click on ‘Login’.
- On the next page, you will need to enter the reference number that is provided in the Instant Kit along with the new User ID.
- Click on ‘Submit’ once the above step is complete.
- Once the above step is complete, a pop-up message will appear on the screen. You must click on ‘Ok’.
- Next, you must enter the OTP you have received on your registered mobile number and click on ‘Submit’.
- Next, you will receive a success message for the change of User ID. You must click on ‘Exit’ as the registration for the new User ID will take a few minutes.
- You will again have to visit Corporation Bank’s internet banking page and log in with the new User ID. Click on ‘Continue’ once the User ID has been entered.
- Next, you must enter the password that is provided in the Instant Kit. Click on ‘Login’ next.
- On the next page, click on ‘I Agree’.
- On the next page, you must enter the relevant details such as the login password that was mentioned on the kit as well as the new password. The new password must be set as per the instructions that have been provided.
- Next, you must enter the Authorization Password that is provided in the kit and set a new password as well.
- Next, you must select the Authorization Message and Select Secure Button. Click on ‘Update’ once all relevant details have been entered.
- On the next page, a success message will be displayed on the screen. You must click on ‘Please Login Again’.
- You will be able to login with your new User ID and password.
What is the Process to Login to Corporation Bank Net Banking Portal?
The step-by-step procedure to log in to the Corp Net Banking portal is mentioned below:
- Step 1: First, you must visit the official website of Corp Net.
- Step 2: Next, you must enter the User ID and click on ‘Login’.
- Step 3: On the next page, you must check on ‘I can confirm the image and phrase displayed matched my initial selection’. Enter the password next.
- Step 4: Once the above details have been entered, click on ‘Login’.
- Step 5: The next page will be the main page of your net banking portal.
What is the Procedure to Reset the Corp Net Banking Password?
The procedure to reset the password is mentioned below:
- You will need to visit the main page of Corp Net.
- Next, you must click on ‘Forgot Password’.
- Next, you must enter the account and debit card details to complete the validation process.
- On the next page, you will be able to change your login and transaction password.
Check Balance on the Corporation Bank Internet Banking Portal
Once the login procedure is complete, you will be able to check the balance available in all your accounts. The home page of your net banking portal will display all the balances in various accounts that are available. Under the Statement of Accounts section, you will be able to view and download various transactions that have been made in various accounts.
Transfer of Funds on Corporation Net Banking Portal
Funds can be transferred easily on the Corp net banking portal. Retail banking customers have an option to transfer up to Rs.5 lakh on a daily basis on CorpNet. Individuals will be able to transfer funds to their own accounts and to third-party accounts.
- Own Account Transfer
Corporation Bank customers can transfer funds from one of their accounts to another across branches or within the same branch. In case of own account transfers, no OTP is required for validation.
- Third Party Fund Transfer
In order to transfer funds to a third-party, a beneficiary must be added. Beneficiaries can be added at the bank branch or online. Corporation Bank customers must link his/her mobile number and email ID with the account as well. Transfer of funds to a third-party who has an account at the same bank, or a different bank can be done as well. Third-party transfers can be completed via National Electronics Fund Transfer (NEFT), Real Time Gross Settlement (RTGS), and Immediate Payment Services (IMPS). Transfer of funds via NEFT and RTGS can be completed only on bank working days, whereas transfer via IMPS can be completed anytime.
What are the Daily Transaction Limits under Corporation Bank Net Banking?
The daily transaction limits for retail and corporate banking customers under Corp Net are mentioned in the table below:
|Types of Transaction||Corporate Banking Customers||Retail Banking Customers|
|Payment of Tax||Unlimited||Unlimited|
|Online Shopping||Rs.10 lakh on a daily basis||Rs.3 lakh on a daily basis|
|Transfer of funds||Rs.50 lakh||Rs.5 lakh|
|IMPS||Maximum of Rs.2 lakh a day and Rs.1 lakh per transaction.|
|In case individuals wish to increase the daily limit, they can contact the bank.|
Payment of Credit Cards on Corp Net Banking
Corporation Bank customers can pay their credit card bills on the Corp Net portal as well. The process is simple and quick. However, the credit card must be linked to the net banking account. Customers can click on the ‘Credit Card Payment’ option under the credit card tab in order to make payments on the net banking portal.
Payments can be requested, and the status of the payment can also be checked on the net banking portal.
Corporation Bank Net Banking FAQs
- Are there any charges associated with registering for internet banking?
- Are there any charges for transacting through internet banking?
There are no registration charges to register for internet banking.
- For demand drafts, 25% of the applicable charges are levied.
- For booking railway tickets, Rs.12 plus service tax will be levied as a service charge per ticket.
- RTGS transactions also have charges attached depending upon the transaction amount.
Once you login to your online bank account, the last login date will be displayed at the top of the page.
You can initiate an IMPS fund transfer for person-to-person, person-to-merchant or person-to-account. IMPS is available through mobile banking facility for a maximum of Rs.50,000.
You can pay the following taxes:
- Direct tax or income tax
- Indirect tax such as service taxes, central or state excise duties, value added taxes, professional tax and custom duties.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.