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FedNet: Federal Bank Net Banking

Federal Bank Limited (FBL) was founded in 1931. FedNet or Federal Net Banking is the internet system of banks that allows people to send and receive money online.

Banking customers highly use online banking. Internet banking enables millions of Federal Bank customers to use the online service without having to visit a Federal Bank branch in person to complete transactions--of what would be manual transactions.

FedNet has a variety of services to meet banking demands. FedNet is a Federal Bank Net Banking solution with various features that customers can access at their fingertips.

Federal Bank customers only need a strong internet connection and a device to operate on the FedNet website. This blog is a one-stop resource to know all the information regarding registering, activating the account, resetting passwords, etc., with FedNet. Read on to learn more!

An Overview of The Federal Bank Business Model

Federal Bank operates through four divisions: corporate banking, retail banking, Treasury banking, and other financial operations.

  • Treasury Banking: The Treasury business division includes derivatives trading, mutual funds & stocks, trading and investments in corporate and government debt instruments, and foreign currency activities on behalf of and for customers.
  • Corporate Banking: The Corporate Banking division offers corporate loans, consumer loans, and other banking services.
  • Retail Banking: Besides Corporate Banking, the retail banking segment offers loans to individuals and small businesses. Retail Banking also participates in other banking operational areas, which include para-banking operations, meaning the distribution of third-party products and other financial transactions.

Registration Process For “New Users” On Federal Banking Through Online Channel 

The below registration steps are for accounts with the chosen mode of operation-Single or Either or Survivor (with over two holders).

Steps to register at Fednetbank:

Step 1: Visit the Federal Bank Net Banking official website.

Step 2: On the homepage, click on the new user button.

Step 3: Select the click here to register online button on the pop-up card at the bottom.

Step 4: On the displayed screen-enter the 14-digit account number and verification code (captcha).

Step 5: Next, an OTP will be sent to the mobile number registered with the bank. Enter that OTP.

Step 6: Enter the received OTP and click on the validate OTP button below.

Step 7: On the next page, enter a FedNet user id of choice and click on the check availability option.

Step 8: On the next page, enter a Federal Bank Net Banking Login password and re-enter the same.

Step 9: Click on submit option on the page.

The user has successfully created their FedNet user id and password.

Note: When registered using the online mode, the view facility for internet banking is only available for Either or Survivor Accounts with more than two holders.

Customers can place a request through the branch to enable transactions for “Either or Survivor Accounts” with more than two holders.

Registration Process For Personal Banking On FedNet Through Online Channel 

The step-by-step procedure to register or activate FedNet is as follows:

Step 1: Visit the Federal Bank net banking official website.

Step 2: On the homepage, click on the personal banking button.

Step 3: On the pop-up card at the bottom user have to click on continue to login.

Step 4: On the next page, users have to click on sign up, which will take them to a new page.

Step 5: On the new page user have to select the account type. Select the single account type option and click on continue.

Step 6: On the displayed screen-enter the 14-digit account number and verification code (captcha). Click on continue after entering the details.

Step 7: An OTP will be sent to the user's mobile number registered with the bank. Enter that OTP.

Step 8: Enter the received OTP and click on the validate OTP button below.

Step 9: On the next page, enter a FedNet user id of choice that users must use when they want to access Federal Bank net banking login. Click on the check availability button after entering a user id.

Step 10: On the next page, enter a login password and re-enter the same. Enter a unique password different from the login id. Follow the instructions while entering the password.

Step 11: After entering a password, click on submit.

Step 12: Next, users need to choose a facility type. Users must log in using the login id and password to choose a facility type. After the user first login, they can select the View And Transact or the View Only Facility.

Step 13: Select the I Require Transaction Facility option and click on the submit button.

Step 14: On the next page, they will have to enter their debit card details linked with their Federal Bank.

Step 15: Enter the 16-digit debit card number, expiry date, and ATM pin. Click on submit.

Step 16: Users are then required to set up a transaction password. Set up a strong transaction password, and enter it twice. Next, click on the submit button.

Step 17: The user registered mobile number will receive an OTP. Enter the OTP and click on the validate OTP button to complete their registration process.

Things To Remember Before Registering Or Activating Federal Bank Net Banking

Before registration, go through the below pointers to ensure a user fulfils everything.

  • Without an active Federal Bank account, the user cannot register online. If users have an active Federal Bank account, it must be in their name, and it cannot be a joint account.
  • The user should have all the valid KYC details such as Permanent Account Number (PAN Card), Voters ID, or Passport.
  • The user must give Federal bank an active and valid email ID and mobile number.
  • The user should provide their ATM number and date of birth wherever necessary.
  • They must have a valid ATM.

Process To Reset Federal Bank Net Banking Password

Step 1: Visit the Federal Bank Net Banking official website.

Step 2: On the homepage, click on the Personal Banking button.

Step 3: Select the Continue to Login button on the bottom pop-up card.

Step 4: On the displayed screen, click on the Forgot Password.

Step 5: Next, enter the user ID, debit card number, ATM Pin, the expiry date of the ATM card, and the verification code.

Step 6: After entering the above details, click on the continue button.

Step 7: On the following page user must enter a new password twice. Users have the option of changing either the transaction password or the login password at once.

For Resetting Password—

  • The user cannot provide the password same as the login id. Both cannot be the same.
  • Users may use letters, digits, and one special character while resetting the password. Read the instructions carefully.
  • The minimum and maximum characters users can use while setting up or resetting their password are 6 and 28.
  • Do not use spaces in the password.
  • Users have to use four distinct characters at least to set up the password.

Step-by-Step Process To Transfer Funds Using FedNet Banking

Users can use FedNet IMPS facilities at all times, including on holidays.

Following are the detailed steps for using the FedNet IMPS (Immediate Payment Service) service to send funds:

Step 1: First, visit the FedNet portal and log in.

Step 2: Click on login after entering the user registered user ID and password.

Step 3: Then select the transfer funds option.

Step 4: After finishing the previous step, the user must choose IMPS Fund Transfer.

Step 5: The user must then enter the details of the beneficiary, including their mobile number, MMID (Mobile Money Identifier—seven-digit unique code), and the transfer amount.

Step 6: Enter the transaction password to finish the transaction.

Note 1: The user must have an updated, active mobile number on the FedNet portal.

Next, following the money transfer, users will get an SMS confirmation.

Note 2: If the person who should receive the funds has not registered for mobile banking, the user can still transfer the funds just by entering that person’s account number and the IFSC code.

Steps To Complete IMPS-Person to Account (P2A) Transfer

To complete the IMPS-Person to Account (P2A) transfer, users can only use the IFSC code and the account number. Read the instructions listed below to learn how:

Step 1: The user must first log in to the FedNet portal.

Step 2: Next select Transfer Funds.

Step 3: Click on the Add External Payee option on the next page. Users can take the same steps if they want to transfer money through NEFT or RTGS. Since it is a one-time transaction, they can skip this step if the payee (receiver) has already been added.

Step 4: Click on the type of transfer to proceed.

Step 5: The user has to choose the payee from the list, enter the transfer amount and transfer the money by clicking on the payment option.

Step 6: Enter the user ID and transaction password to complete the transfer.

Steps To Login Into FedNet Banking

Logging into FedNet online site and accessing all the information is simple. Follow the below steps to login into the FedNet account:

Step 1: Go to the official website of FedNet.

Step 2: The user must then select Personal Banking.

Step 3: Click on the login button on the pop-up that opens.

Step 4: Enter the user id and password on the following page. Click the login button after entering these details.

Step 5: After logging in, the user can access all the required information, including their account details.

Process To Check Funds Balance On FedNet Banking

Users can quickly check their balance on Federal Net Banking with all the required details. The detailed steps are listed below for guidance.

Step 1: Go to the Federal Bank home page.

Step 2: Select the second option–Personal Banking.

Step 3: Next, select continue to login on the below pop-up screen.

Step 4: Enter the user ID and password on the next screen.

Step 5: Click on the login.

Once the above steps are complete, users can access the ‘Account Summary’ page to view their account balance.

Note: The user must finish registering or activating before checking their balance on FedNet.

Benefits And Features of FedNet Banking Services

FedNet has been the Federal Bank’s attempt to offer virtual banking around the clock to their customers.

Users can conduct banking business at any time and from anywhere, thanks to various fascinating features like viewing account statements, transferring money, creating bank accounts, ordering chequebooks, recharging mobile phones and televisions, demand drafts, and online shopping.

Other Benefits & Features Include

  • Users can transfer funds within their accounts with no hiccups.
  • No need for demand drafts and a cheque process as everything is taken care of by Federal Bank Net Banking.
  • Access to account information and mini statements Online.
  • Securely transfer money between users' accounts and to accounts at Federal Bank or Non-Federal Banks.
  • Users can use NEFT, RTGS, and IMPS to transfer money.
  • Users can open online fixed deposits, recurring deposits, and cash certificates with only a few clicks,
  • Instantly recharge the DTH and prepaid mobile.
  • Pay back loans on schedule.
  • Pay children’s tuition fees Online.
  • View Tax Credit (Form 26AS) online.
  • Submit telebanking requests online.
  • Make hassle-free investments in recurring deposits from the comfort of the place.
  • Quickly transfer funds through IMPS.
  • Pay direct or indirect taxes online, and users can receive a confirmation instantly.

Transaction Limits Under Federal Bank-FedNet FedMobile 

Besides default transaction limits on Federal mobile-FedMobile, the Federal Bank only allows a set of limited transactions to ensure the account's security. The below limits are referred to transactions, i.e. the amount users can transfer within and outside their Federal account.

Default transfer of funds by Federal Bank Using FedMobile as follows:

  • Self-account transfer within the Federal Account: Up to 20 lakhs per day.
  • Within Federal Bank: Rs. 10 lakh per day for the verified beneficiary and quick pay limit for the non-beneficiary.
  • IMPS: 10 lakh per day but limited to 5 lakh per transaction for the verified beneficiary and quick pay limit for the non-beneficiary.
  • RTGS: Rs. 10 lakh per day but limited to Rs. 2 lakh per transaction for the beneficiary.
  • UPI: Transfer limited up to Rs. 1 lakh for every 24 hours for the verified beneficiary and quick pay limit for the non-beneficiary.
  • NEFT:  Transfer Limited up to Rs. 10 lakh per day for the verified beneficiary and quick pay limit for the non-beneficiary.

FedNet-

Types of Schemes Transaction limits within own accounts Limit transactions to other Federal Bank accounts Limit transactions to another bank account other than Federal Bank accounts or for payment of bills Online Payments
Silver Net Unlimited Only a maximum of one lakh rupees Limited to a maximum of one lakh rupees Only a maximum of one lakh rupees
Gold-Net Unlimited Limited to ten lakh rupees Limited to five lakh rupees Only a maximum of one lakh rupees

 

Charges for making payments through IMPS

Amount Charges
Up to Rs. 1000 Zero
More than Rs. 1000 but less than Rs. 1 lakh Rs. 5
More than Rs. 1 lakh but less than Rs. 2 lakh Rs. 10

Frequently Asked Questions?

What is the difference between IMPS and RTGS?

Immediate Fund Transfer Service, or IMPS, enables quick and straightforward fund transfers with minimal complications. Most people are unaware of the IMPS full name or features, and people frequently mistake it for other forms of money transfer like NEFT and RTGS.

However, it is entirely different from the other two. This mechanism for electronic financial transfers between banks operates through mobile devices. IMPS differs from NEFT & RTGS because it operates 365 days a year, 24 hours a day, including holidays. In comparison, RTGS operates only during banking hours.

Who is eligible to use Federal Net Banking?

All the people who have opened savings accounts and current accounts with Federal Bank can use Federal Net Banking.

What is Federal Net Banking safe?

The Federal Bank puts user safety first. Customers do not have to worry about safety as the Federal Bank uses two-factor authentication to ensure financial security.

What primary services does Federal Net Banking provide?

The primary services offered by Federal Net Banking include—Funds transfer, checking account balance, and bill payments. Users can request chequebooks and block their ATM cards, among other services.

What are the charges for using Federal Bank Net Banking?

Federal Bank charges low fees for money transfers based on the transaction amount, but there are no fees for using the Federal Bank Net Banking system.

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