Whether you are a large, medium or small scale enterprise,and are seeking paperless banking avenues, then Axis Bank corporate net banking platform is one such platform that you could consider.
As India's third largest private sector player (balance sheet size of ₹11,75,178 crores FY2022) with national and overseas footprint, Axis Bank offers, wholesome, safe and secure corporate net banking services across customer profiles which includes large and mid-corporates, MSME, agriculture and retail customers.
As a one-stop solution, customers can view their accounts details, download and print statements, Axis to Axis fund transfers, NEFT,RTGS, IMPS, employee salary slips, tax payments, stop payment instructions on issued cheques,request for Demand Draft, online shopping across multiple merchants, single page view of accounts, deposits, loans, cards, etc. and much more.
Let us understand the nuances of the netbanking process:
- To begin with, you need to approach the bank with your current account details to avail net banking services.
- Depending upon the type of access you are seeking, you need to submit the relevant documents.
- For example, you can apply as “Authorised Signatory User” or “Non Authorised Signatory User” based on your company's profile.
- Once you have opened the account, you can either opt for “View Access” or “Transaction Access” under each user category.
- The bank typically processes your request within three working days.
- Upon activation of your account, you would receive confirmation through SMS. You can now seek your corporate ID, user ID, and initial passwords.
- You can now login to Axis bank web portal with the help of user ID and password and avail the net banking services.
- Once you have logged in using your initial password, it is advisable to modify your password, encrypted with special characters to ensure safe and secured account access.
Documents required to open a corporate account:
Type of User Constitution
Company / LLP
Trust / Society CIB form
Company / LLP CIBF+Partnership letter (If partner)
CIBF+POA (If not partner)
Trust / Society CIBF+Resolution
Banks CIBF+ Resolution
Who all are eligible for corporate net banking services and what is the kind of access provided to such users?
Any non-individual entity is eligible for these services. In terms of access, the bank provides ' view only access' and 'transact access'.
- View access
As the name indicates, customers can only see their account statement. Any kind of transaction is not permitted under the 'view only' access.
- Transaction access
With the 'Transaction access', customers are permitted to execute their transaction, provided their accounts are linked to the User ID. The transaction access differs depending upon the customer profile. For example:
- Type A: customers can execute fund transfers between them, through their linked accounts only.
- Type B: customers can transact between their own linked accounts, third party accounts, tax payments & NEFT/RTGS/IMPS, netbanking payments.
- Type C: customers can only make tax payments.
How do we register for Axis Bank corporate net banking services?
All you need to do is visit the bank branch and fill up the relevant form to avail these services.
How does the bank ensure safe and secured netbanking transactions?
Axis Bank deploys 'NETSECURE' solution which basically deploys a double authentication so as to provide a safe and secure platform to all its customers. customers are mandated to follow the 2- factor authentication key , a corporate ID and Login ID.
For example, Mr. XYZ is working for 'ABC Ltd' . The Corporate ID ' ABC LTD and Login ID 'XYZ' to login.
How do I unlock my account without visiting the branch?
- In such a scenario, you could unlock your account by navigating through the bank's web portal home page under the ‘Trouble logging in?’ tab.
- However, if your issue remains unresolved, you could either write to Corporate.Ib@axisbank.com or connect with the Phone Banking team on 1860-500 4971 (Available 24/7).
- Alternatively you may also connect with the Relationship Manager or Nodal Branch.
What are the fund transfer limits for Axis Bank's customers?
- In case of IMPS payment gateway, the fund transfer per transaction is limited to ₹5 Lakhs.
This service is available 24x7, 365 days.
- In case of RTGS payment gateway, the fund transfer is limited to Less than ₹1 Crore (on working days) and can be executed from 7:00 am to 7:00 pm.
For fund transfer ₹1 Crore per transaction can be executed from 7.00 pm to 7.00 am - 2nd and 4th Saturday, Sunday and Bank Holidays.
- NEFT transactions are available 24x7 From 7:00 am to 7:00 pm – As per customer approval.
From 7.00 pm to 7.00 am - Less Than
₹ 1 Crore (on working days)
2nd and 4th Saturday, Sunday and Bank Holidays-Full Day ₹1 Crore per transaction.
- Customers also have the option to set their own transaction limits as per their business requirements.
What are the different user profiles and transaction limits to monitor corporate net banking accounts as per the business requirement?
Basically, the bank has profiled customers as ' Enterer and or Approver' and 'Viewer', depending upon the extent of approvals required.
- For example, in case of the 'Enterer', the transactions can be initiated, subject to approval.
- On the other hand, 'Approver' is permitted to approve transactions that have been initiated by others.
- While in the case of 'Enterer & Approver', one can enter and approve transactions singly.
- Last but not the least, the viewer is authorised only to see the accounts. Any kind of transaction is not permitted.
In terms of transaction limits, depending upon their business requirements, entities may set a:
- Transaction limit, wherein the user can transact a maximum daily threshold transaction amount.
- Daily limit, wherein the user can transact maximum threshold number of transactions on a single day.
- Corporate limit, which specifies the maximum threshold amount of transactions that can be executed by all users of that business entity.