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Introduction

Canara Bank is more than a decade old public sector bank and among the top 10 banks in the country. It has its headquarters in Bangalore, Karnataka, and has a huge network of over 6300 branches and more than 8800 ATMs across the country. Its international presence is also very strong with offices in major cities like London, Hong Kong, Moscow, Shanghai, Dubai, Tanzania, and New York.

The bank has a huge range of products and services that it offers to its national as well as international customers like loans, investment, insurance, depository services, mutual funds, NRI banking, corporate banking, internet, and mobile banking, MSME banking and much more.

Among the above services provided by the bank one of the most important and absolutely necessary services offered by the bank are the internet banking and mobile banking service offered by the bank. Internet banking and mobile bankings are the need of the hour with the ever-advancing and ever-shrinking world, internet banking and mobile banking has made banks much more accessible, practically at the tips of one’s fingers.

Given below are the details of the net banking facility of the bank.

What is Net Banking?

Canara Bank Net Banking

Internet Banking or more popularly known as Net Banking facility of the bank is the facility where the customer of the bank can perform most of his/her banking transactions online without the need to physically visit the bank. The various facilities available in the bank’s net banking portal include online transfer of funds, opening of accounts or various schemes, paying various utility bills, starting investment options like SIPs, apply for loans, etc.

How to start a Net banking feature?

The net banking portal of Canara Bank is available at the bank’s website. Canara Bank has two versions of Net Banking, namely, Net Banking Lite (retail) and Net Banking (Retail/ Corporate). The customers can have access to the net banking portal of the bank by logging in to it via user id and password that is generated/ given to them at the time of opening an account with the bank. This means that the primary condition to have access to net banking is to have an account with the bank (savings bank or current bank account).

The bank also allows the user to ‘unlock’ the User ID, ‘Activate’ the User ID or even provide assistance in logging into the account (in case the user has forgotten his/her user ID by clicking on Forgot User ID).

Features of Canara Bank Net Banking

The net banking feature of the bank is one of the most prominent features or services offered by the bank considering the world we live in today as everyone wants their banking transactions to be done on the go. The various facilities offered by the net banking feature of the bank are detailed here.

  • The users can view their account details like account summary, transactions done (savings account / current account transactions, debit card transactions, etc.)
  • The user can download the statements either monthly or between a particular period of time as well as print them for their perusal.
  • Details of funds that are not cleared are also shown in the section for the same.
  • The user can also pay various utility bills like electricity, water, gas, mobile, internet/cable charges as well as various online payments like donations, insurance, credit card bills, tax payments , etc.
  • The user also gets certain benefits on leisure expenses like travel, movie tickets, online shopping and so on.
  • The bank also allows its users to apply for loans as well as view any details pertaining to the loans availed by the user.
  • The user can view the details of the transactions made during a particular period or date wise transactions as required by the user.
  • The net banking feature of the bank also helps in easy hassle free repayment of loan installments without practically visiting the bank for the same.
  • The user can also calculate the amount of estimated EMI that will have to be paid up on availing the loan. For this the user will have to input the details like the loan amount sought, term of loan and rate of interest up on such loan. This feature helps the user to plan for the EMI expense accordingly.
  • The net banking feature of the bank also helps the user to start new deposits linked to his/her account. These deposits are known as term deposits and can also be recurring in nature. The bank also has the term depositor calculator which helps in determining the amount of interest that can be earned on such deposits.
  • The bank also allows the user to add, modify or delete the beneficiaries for the online fund transfer from the user’s bank account to another bank account within the bank or to another bank.
  • The user can set up a set of standing instructions for funds transfer or payments of various utilities or schemes like SIPs and much more which can be modified and deleted as per the requirements of the user.
  • The bank also allows the user to make online enquiries related to cheques issued or cheque book issued, rates of interest applicable on various schemes and loans and deposits or forex rates.
  • The bank also allows processing of many ancillary requests through net banking like, registering for alerts relating to any transactions or activity as per the requirement of the user, updating of the user’s profile (address, mobile number, email id, etc.), changing the password to the net banking portal multiple times.
  • The user is also allowed to view his/her history of activities up to the last three sessions on the net banking portal. This history will have details like the time of log/logout, details of the activities undertaken or the number of times the account was accessed.

Transfer of funds under Net Banking

One of the main features of net banking is the ease in transfer of funds either to one’s own account with another bank or a third party transfer (transfer of funds to another person’s account).

The detailed procedure of the transfer of funds under net banking is given below.

Transfer of funds to own account

  • The user has to select the link ‘Funds Transfer’ under the Funds Transfer menu.
  • The page that will be displayed is of Funds Transfer which will show the same destination account number and source account number, by default.
  • The user has to change the source account number by selecting the same via the dropdown menu.
  • Similarly, the destination account number also has to be changed by selecting the same on the dropdown menu.
  • The source and the destination account number for transfer of funds cannot be the same and the user will receive the message displaying an ‘Error’ if such is the case.
  • After this, the user will have to enter the amount to be transferred which cannot exceed the available balance in the account.
  • In order to process the transaction, the user will have to input the transaction password twice after selecting the tab ‘Transfer’ and then click on the button ‘Submit’. The portal will not process the transfer of the password is incorrect or does not match and the message displayed for the same will be ‘Invalid PIN’.
  • The user has to then verify all the details displayed on the confirmation screen and select the confirm button upon satisfaction of the same.
  • Post this the transaction is successfully completed and the details of the transaction like the amount transferred, date of transfer, transaction number etc, are displayed.
  • The user is required to save the information of the transaction done for future reference.

Transfer to the third party

  • The user can start the process to transfer the funds to a third party by selecting ‘Funds Transfer’ from the Funds transfer menu.
  • The display box will then display the screen for ‘Third Party Funds Transfer’ and the source account number will be the user’s account number.
  • The user has to choose the beneficiary (who is entitled to receive the transfer of fund) from the ‘beneficiary’ box by selecting the same from the dropdown menu.
  • Upon selecting the beneficiary, the details of the destination account number and the corresponding IFSC code will be auto filled by the system.
  • The user has to then enter the amount to be transferred which cannot exceed the balance available in the user’s account along with the description of the transaction and then select transfer to initiate the transfer.
  • The user will be further asked to verify the details of the transaction and then confirm the same to process it by clicking on the ‘confirm’ button.
  • Upon confirmation, the user will be required to enter the transaction password twice to authenticate the transaction and select ‘submit’.
  • Once the transaction is processed, the user will get the details related to the transaction like the recipient’s account details (account number, account holder name, etc.), amount transferred, date of transfer, transaction number and so on. The user can keep this information for future reference.

Resetting Net Banking Password

Canara bank allows a user to reset the net banking password multiple times for safety purposes. It also allows the user to rest the password in case he/she has forgotten the same and thereby cannot successfully login to their net banking account. The process of resetting the password to gain access to the net banking account is detailed below.

  • The user can start this process by clicking on the link to the Net Banking Portal available on the home page of Canara Bank.
  • Then he/she has to click on ‘Forgot Password’ which will direct the user to the page for resetting the password.
  • At this point, the user is required to enter the information like the user ID, date of birth/date of incorporation (in case of a company). The user also has to identify itself as a retail user or a corporate user.
  • Further, the user will have to choose one of the following available options which will be used to authenticate the request of the user to change the net banking password.
  • The user will be required to enter his/her registered account number
  • Thereafter, the user has to enter the new desired password which has to be at least 8 characters long and strong with preferably alphanumericals and permissible characters.
  • Once satisfied, the user can confirm the new password by clicking on ‘Submit’ and get the new password registered.
  • The user can then login using the newly registered password.

Canara Bank Net banking Customer Care

The customers can contact the bank for any queries or concerns that they may have regarding their net banking. The customer care of Canara Bank is available 24x7 throughout the year except for the three national holidays (15th August, 26th January and 2nd October). The customers can contact the bank at the following channels to address all their queries and concerns or any grievances regarding net banking. They can also provide their feedback on this number.

  • Toll-free number – 1800 425 0018
  • Email ID - hocss[at]canarabank[dot]com
  • Postal Address – Head Office

    Customer Service Section

    Divisional Manager

    Canara Bank,

    SP&D Wing,

    Head Office,

    No.112, JC Road,

    Bangalore -560002

Telephone - 080- 22221581/582/0490/0491/1788/ 1789/ 1790/1984/1985/1986

FAQs

1. Who is eligible for opening a net banking account with the bank?

A person having a savings or current bank account with any of the Branches of the bank can open a net banking account a Canara Bank Net banking account for the former corresponding account held.

2. Does the user need to submit an application form for net banking portal?

A person needs to submit the required application form for applying to the bank’s net banking portal. The form is available at the bank’s branch at the time of applying for a new account with the bank or any time later at the discretion of the account holder.

3. How can the user access the net banking portal of the bank?

A person can gain access to the bank’s net banking portal at the bank’s official website.

4. Can an NRI also avail the net banking facility of the bank?

Yes. The facility is open to all the account holders of the bank.

5. What happens in case of more than one unsuccessful attempt to login to the bank’s net banking portal?

The user can try to login to the net banking portal three times in one particular session. If he/she fails to provide the correct user id and password in all the three trials, the said net banking account gets blocked/locked and can only be unlocked by the bank upon receiving a letter from the account holder.

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