Corporation Bank, now Union Bank, offers internet banking facility with a host of features that are available on a 24x7 basis to the bank's customers. This can be accessed from anywhere in the world for everything from fund transfers to booking of online travel tickets.
Features and Benefits of Corporation Bank Net Banking
The main benefits and features of Corporation's Bank's 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.
How to Apply for Corporation Bank Internet Banking Facility
The step-by-step procedure to register or activate the Corporation Bank internet banking facility is mentioned below:
- Individual customers of the bank possessing who have an ATM cum debit card can use the Self-User Creation module on the official website to create their internet banking user ID and passwords. Passwords can be generated or reset using this module.
- Those who don't have an ATM cum debit card can create an internet banking user ID and generate the password or reset it using the Self-Creation Module on the official website. This will only have view facilities.
- Corporate customers will have to apply through the nearest branch of the bank.
What is the Procedure to Reset the Corporation Bank Net Banking Password?
The procedure to reset the password is mentioned below:
- Visit the net banking page of Union Bank.
- 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.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:
| Mode of Transfer | Transfer Amount | Charges (Per Transaction) |
|---|---|---|
| RTGS | Rs.2 lakh – Rs.5 lakh | Rs.25 - Rs.30 |
| Above Rs.5 lakh | Rs.50 - Rs.55 | |
| NEFT | Up to Rs.10,000 | Rs.2.50 |
| Rs.10,001 – Rs.1 lakh | Rs.5.00 | |
| From Rs.1 lakh – Rs.2 lakh | Rs.15.00 | |
| Above Rs.2 lakh | Rs.25.00 | |
| IMPS via Branch | P2P | Rs.10 |
| P2A | ||
| IMPS via Internet Banking | P2P | Rs.5 |
| P2A | ||
| IMPS via SMS Banking and Mobile app | Nil | |
Payment of Credit Cards on Corp Net Banking
Corporation Bank customers can pay their credit card bills on the 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?
- 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.
- How do I check my last login date?
- What IMPS transactions are permitted through online banking?
- What taxes can I pay using online banking facilities?
- Direct tax or income tax
- Indirect tax such as service taxes, central or state excise duties, value added taxes, professional tax and custom duties.
There are no registration charges to register for internet banking.
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:
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
