FedCorp
Features
FedCorp is our Mobile Banking application designed to cater to the transactional needs of our SME and Corporate customers. With this application, business entities can manage banking transactions conveniently without needing to visit the Bank. This secure and user-friendly application allows access to accounts, balance enquiries, funds transfers (Intra Bank, IMPS ,NEFT & RTGS), beneficiary management and much more. Available 24X7 service, FedCorp can be accessed anytime, anywhere, offering a smooth experience for your business. The app offers exciting features such as paperless onboarding process, enabling streamlined business transactions with updated transaction limits.
This service is available for customer accounts under the following types of entities:
- Sole Proprietorship Firms
- Partnership Firms
- Public/ Private Limited Companies
- Societies
- Trust
- Associations
- HUF
Easy Registration process
Registration for Corporate FedMobile can be done both offline and online. Sole Proprietorships with an active Debit Card can instantly activate their FedCorp application. Sole Proprietorships not having debit card and other constitutions like Public/Private Companies, Associations, Societies etc. must visit the branch for document submission.
Multi-user approval
Enterprises can assign as many users as necessary to manage the accounts. Rules for account operations, like Maker/Checker or the number of authorizers, can be customized based on the enterprise’s requirements.
Manage Beneficiaries
Payee management requires approval from all authorized users of the company. Once a payee is added, subsequent fund transfers can be made with a single tap.
Quick Pay & Fund Transfer
Payments can be made even without adding the payee using the Quick Pay option. Fund transfers can be done via IMPS, NEFT, RTGS and intra- bank transfers.
Scheduled Payments
Users can schedule payments for future dates through this functionality of the application.
Download/Email Account statements
Users can download account statements of the enterprise and email them to the registered email address via the application.
Eligibility
- The entity must have a Current, Savings or OD/ CC account with the bank under a Non individual constitution. Individual account customers can use the existing FedMobile app.
- The account should be active and KYC Compliant.
- Proposed FedCorp users (designated account operators/ related parties) should also be KYC compliant.
- The mobile number should be updated for all proposed users.
- Sole Proprietorships will be allowed to register FedCorp under the proprietor's name, as the proprietor and the proprietorship concern share the same PAN.
- For all entities other than Sole Proprietorships, FedCorp users will be determined based on the relationship type with the account.
- No two authorized users should have the same mobile number in the system.
- Mode of Operations -Single, Joint and E (or) S are allowed.
Transaction Limits
|
Type of Limit |
New Limit |
|
QuickPay (Cumulative Per Day) |
Rs.1,00,000 |
|
Fund transfer (Per Transaction) |
Rs.20,00,000 |
|
Fund transfer (Cumulative Per Day) |
Rs.50,00,000 |
|
Fund transfer (Own accounts per Day) |
Rs.50,00,000 |
|
Fund transfer (Cumulative Per Month) |
Rs.5,00,00,000 |
Documents Required
- Sole proprietorship accounts (Offline registration) - Corporate FedMobile application form
- Companies, Societies, Associations & Others - Corporate FedMobile application form + Signed Board Resolution
- Partnership Firms - Corporate FedMobile application form + Signed Letter of Authorization
- HUF - Corporate FedMobile application form + Signed Letter of Authorization
How to Register?
Sole Proprietorships having an active Debit Card will be able to activate their FedCorp application instantly.
Both Online and Offline processes are available on iOS and Android applications. Users can register through the mobile app itself by following below steps:-
- Enter corporate account number and registered mobile number.
- Complete SIM binding through SMS verification.
- After successful SIM verification, the customer can set MPIN. This MPIN will be used by the customer to login to their FedCorp application and require them to remember it.
- Once the MPIN is set by the customer, they will be required to login to FedCorp with the same MPIN.
- Once logged in, the user will be guided through an app tour showcasing the features.
- After completing the app tour, users will be asked to activate their FedCorp account.
For Sole Proprietorships without a Debit Card and other entities like Partnership Firms, Companies, Associations, Societies, Trusts, and HUFs, document verification is required at the branch. Once verified, the customer will receive an activation token number to enter in the FedCorp app to complete the activation process.
Terms and Conditions
For terms and conditions of Corporate FedMobile usage, please click here.