Federal Bank’s initiative towards virtual banking is called FedNet that provides a host of facilities to customers who wish to transact online. Facilities that FedNet hosts include viewing account statements, ordering cheque books and demand drafts, initiating fund transfers and much more.
Features of FedNet
With FedNet, customers can send funds between their own accounts. They can also make transfers from their Federal Bank account to non-Federal Bank accounts. Fund transfers are secure. Customers can opt for RTGS, NEFT or IMPS.
Cheques and DDs
Customers can request for fresh chequebooks or make a request for a demand draft online. The hassles associated with going to the bank and waiting are eliminated.
Customers can instantly recharge their mobile phones and their DTH connections conveniently online.
Book a recurring deposit from the comfort of your own home or office. You can also set standing instructions to auto-debit your bank account to make contributions towards your RD.
Pay your EMIs through FedNet at your convenience. You can also set instructions to auto-debit your account so that you never miss a payment.
Pay taxes to the government through your FedNet account. You will receive an instant confirmation. You can pay both direct and indirect taxes.
You can view your mini statement online. Find out your balance, credits and debits whenever you need by logging into your online account.
Make telebanking requests through your online banking account.
You can pay for your online purchases using FedNet internet banking which is safe and secure.
How to apply for FedNet?
Contact Federal Bank via the following avenues to request for internet banking:
- Online Application: One can apply for the FedNet Internet Banking facility through online application.
- Offline Application: One can also apply for the FedNet Internet Banking facility by submitting the FedNet application form at the home branch of Federal Bank. In case there are multiple account holders, the mandate form should be submitted in favour of the user.
How to access FedNet?
If you are a first-time user, you can access your internet banking account by following these steps:
- Visit the Federal Bank Corporate website.
- Click on “FedNet” link. You can find this on the top right-hand corner of the page.
- Click on “Log on to Personal Banking”.
- You will be directed to a login page where you can enter your User ID and password that was sent to you by PIN mailer. Please remember that passwords are case sensitive.
- You will be prompted to set a password of your choice.
- Once you change your password, you can log in into your account.
- You can then view the different options available and view your account.
- You need to enable the transaction facility. You can do so by activating the transaction facility via PIN mailer or soft activation.
Fund Transfers Limits through FedNet
To enhance safety and security of fund transfers, Federal bank has stipulated certain limits on online transfers depending on the bank account.
|Type of account||Limit|
|Between own accounts||Rs.2 lakh|
|Third party account within the Federal Bank||Rs.30,000|
|Non- Federal Bank account||Rs.30,000|
With all fund transfers, customers have to go through a two-factor authentication. This is mandated by the Federal Bank on all transactions. If a customer requires a higher limit, they can place a request in the following manner:
Login in to FedNet and Click on “Requests”. Select “Enhance Transaction Limit” and submit your request.
Customers can enhance their limits up to the following amounts:
|Particulars||Silver Net||Gold Net|
|Transfer limit between own accounts||Unlimited||Unlimited|
|To other Federal Bank accounts||Up to Rs.1 lakh||Up to Rs.10 lakh|
|To other bank accounts or bill payments||Up to Rs.1 lakh||Up to Rs.5 lakh|
|Online payments||Up to Rs.1 lakh||Up to Rs. 3 lakh|
FedNet provides a host of facilities to customers so that they can save time, energy and money spent on traditional ways of money. Net banking helps eliminate or keep to a minimum the hassles involved with in-person banking. Net banking allows customers to transact from their home or office.
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