Fednet Linking Account FAQ

1 . What is a user Id?

Ans: User Id is an Identification name which enables the Internet Banking system to recognize you as a FedNet customer and enable FedNet operation over the Internet. It will be unique in the sense that no two or more customers will have the same user Id. FedNet therefore requires you to suggest three alternative names as user Id in the application form, one of which will be selected based on the order of your preference, if it has not been already allotted to anybody else. Should all three be found already allotted a fresh user Id will be set for you.

2 . What types of accounts are included in FedNet?

Ans: FedNet is presently designed to include Savings Bank, Current Account, Term Deposits and Overdraft/Cash Credit accounts. Other accounts will be added to the list shortly.

3 . Can Resident accounts be maintained by NRIs and linked to FedNet along with Non-Resident accounts?

Ans: No. Non-Residents are not permitted to maintain resident accounts. Resident accounts maintained by persons before becoming Non-residents shall be converted to Non-Resident Ordinary account (NRO). Once it is converted to NRO accounts, such accounts can be linked to FedNet along with other accounts of the NRIs.

4 . Will FedNet display all my existing or future accounts automatically once I register in FedNet?

Ans: No. Normally accounts specifically requested in FedNet application or otherwise added later only will be available in FedNet. All eligible accounts can be included in FedNet if requested by the account holder. In other words, the account holder has to decide and inform the Bank whether to include or not all accounts in FedNet.

5 . I maintain my account with a reputed bank and I get computer print outs of my account at any time and they have ATM facility also. Why should I avail FedNet facility?

Ans: By enabling your account through FedNet you gain a lot of additional advantages and convenience at no additional costs. Some of them are: 

  1. When you bank through FedNet you are doing so in the convenience of your home or office, anywhere in the world. You do not have to go to a branch or an ATM. 

  2. FedNet provides you facility for utility payments, which is not available in ATMs. 

  3. Again, transfer to third party accounts is possible in FedNet.

  4. With FedNet you can get statements up to 6 months. You can also sort and view/print/save them according to your preferences. 

  5. FedNet allows you to order Cheque Book/Demand Draft/Deposit Opening & Renewal/Revoke Stop Payment requests. Drafts can even be mailed directly by us at your request to third parties. 

  6. FedNet enables you to do online shopping and payment over the Internet. You can also order gift items over the Internet. 

  7. FedNet enables you to view all your accounts across branches at different geographical locations on a single screen and transact on them. 

  8. Archives of your transactions are available online enabling to monitor activity on your account.

6 . In what way is FedNet different from Telephone Banking?

Ans: 1. FedNet is Internet Banking and all the account details can be accessed and transactions can be done through FedNet. 2. FedNet allows you to view the transactions on screen at your leisure. 3. FedNet lets you save, copy and print statements of account. 4. Transfer to third party accounts is possible in FedNet.