Interested in financial products
CreditMantri
Processing

Introduction

Federal bank is one of the oldest private sector banks in our country. It is a scheduled commercial bank that has its headquarters in Kochi, India but has a huge pan India presence. Federal bank has grown from its humble roots to become a modern bank offering many advanced banking solutions catering to the specific banking needs of retail customers as well as corporate customers. These products and services include retail loans, business loans, insurance, NRI banking, fixed deposits, savings schemes, and much more.

Among all the products and services provided by the bank, digital banking is an integral part for all the banking segments. In fact, customers specify digital banking solutions as the need of the hour. Digital banking has changed the way an individual views their bank. It has ensured that customers get optimum banking services at the tip of their fingers.

The latest advancement in digital banking is the UPI portal which is a centralized payments portal that is unique to the Indian market. It is a step further in the world of digital banking and e-wallets. Given below are the details of the UPI portal of Federal Bank.

What is UPI and how does it work?

Federal Bank Upi

UPI or the Unified Payments Interface is an exclusive payments model. It is developed by the National Payments Corporation of India (NPCI) and is regulated by the RBI. It acts as a centralized or a common payments gateway where customers can access multiple bank accounts under a single payment address and manage them simultaneously under a single login id. It is available to all the certified and registered partner banks and merchants or even individuals in India.

UPI enables the customers to send or receive money instantly or on a real time basis. It functions on the basis of the IMPS technology. Customers can generate the UPI ID easily and can link multiple bank accounts thereby carrying out the functions like funds transfer and payments to merchants without the need to actually provide the details like the bank account number or the IFSC code of the bank. This makes it a very secure platform in addition to the authentication for each transaction through the UPI PIN to send and receive funds and an efficient mode for making payments.

Federal Bank UPI portal is known as the LOTZA BHIM UPI and is approved by the NPCI. The UPI handle for Federal Bank is in the form of ‘xxxx@federal.

How to register for Federal Bank UPI?

The registration process for Federal Bank UPI is very basic and can be completed within minutes of downloading or opening the mobile application of the bank. Prior to registration, customers must ensure that they meet the basic requirements for meeting the registration criteria and operating or using the application seamlessly. These pre-requirements include the following,

  • Registered mobile number
  • Valid and active bank account
  • Active Debit card or ATM card
  • Smart phone to download the application

After ensuring that the customers meet the prerequisites, they can continue with the registration process as detailed below.

  • Customers have to first download the UPI application from the application store i.e. Google Playstore or the Apple Store.
  • After downloading and opening the application, customers will be taken to the language selection page where they will have to select the preferred language for the UPI application.
  • Post this they will have to enter the registered and valid mobile number which is essential for the registration failing which the customer cannot proceed.
  • After providing the mobile number, an OTP will be sent to the customer on their registered mobile number which will authenticate the account opening request.
  • Next step is to create a UPIU Id where the customer will be asked to provide a username which will be the VPA or the Virtual Payments Address through which the UPI account of the customer will be identified.
  • After selecting a username, customers will then have to enter a password or a PIN which is a 4-6 digit number that will be exclusive to the UPI account and will have to be used to authenticate any funds to be sent or received by the customer.
  • After entering the PIN above, it will have to be re-entered once more to confirm it and proceed with the registration of the UPI account.
  • Finally the UPI account of the customer will be set up and can be used to make funds transfer and make payments.
  • After setting up of the UPI account it will have to be linked to a valid and active bank account of the customer whether held with Federal Bank or any other partner bank
  • Customers can link the selected account by entering the last 6 digits of the debit card of such account and its expiry date.
  • Customer will again be asked to validate this request providing the OTP and the UPI PIN
  • After completing the registration process and linking of the bank accounts, customers will receive a notification for the same confirming the VPA of the customer.
  • The username of Federal Bank is in the format ‘xxxxxx@federal’ as mentioned above.

How to send payments through Federal Bank UPI?

Funds transfer is the key aspect or the single most important feature of the UPI application of the bank. There are many modes to make such payments through the UPI application of the bank. These payments modes are,

  • Providing the VPA (Virtual Payment Address)
  • Providing the Bank Account Number along with IFSC Code of the payee
  • Providing the Registered Mobile Number of the merchant or the person
  • Scanning the QR code of the merchant or the person (payee).

The process for such funds transfer or making payments to another bank account (whether held in the same bank or any other bank) or to any partner merchant or person through any of the above modes is very simple.

The details of the same are provided hereunder.  

  • First and foremost, the customer has to login to the UPI application using the registered mobile number and the password associated with it.
  • Next step is to select the Send Payment option
  • Next after that customers need to provide the details of the beneficiary’s virtual payment id or the VPA or the bank account and IFSC code or the registered mobile number of the payee, or scan the QR code of the payee to initiate the payment request.
  • After that customer needs to enter the amount to be paid and the account from which such amount has to be debited.
  • These details will have to be confirmed by the customer before proceeding further.
  • After confirming all the details, the customer will then have to enter the UPI PIN to authenticate the request and process the payment to the payee.
  • Post successful payment to the payee account, the customer will get a confirmation status for the payment done along with the transaction details like transaction id, amount transferred, payee details, date and time of transfer, etc.

How to set the PIN for Federal Bank UPI?

Federal Bank UPI application allows the user to set up the UPI PIN initially at the time of registration of the UPI id. UPI Pin is a 4 digit or a 6 digit password that is used to authenticate or validate each UPI transaction. It can be set and reset multiple times by the user even in the event of forgetting the same.

The process to set up the UPI PIN is explained below.

  • First step is to open the Federal Bank UPI application i.e. BHIM LOTZA UPI Payments App
  • After opening the application, customers will have to open a UPI account by providing a valid and active mobile number.
  • Next step is to provide a username
  • After that, customers will be taken to a new page where they will have to input a PIN which can be a4 digit or 6 digit number as per the guidelines of the bank.
  • Customers will have to re-enter such PIN to confirm it.
  • The UPI account of the customer will be successfully created and can be used to carry out banking transactions.

Customers can reset this PIN as mentioned above any number of times. To do so, customers will have to select the option change PIN or forgot PIN as the case may be from the ‘Settings’ or the ‘Menu’ feature of the application. After selecting the same and answering the security question or providing the OTP sent on the registered mobile number, customers can reset the UPI Pin easily. In this case also, customers will be asked to re-enter the new PIN to confirm it before accepting it as the valid UPI PIN.

FAQs – Federal Bank UPI

1. What are the features of the Federal Bank UPI app?

The various features of Federal Bank UPI are highlighted below.

  • Single VPA to access multiple accounts (whether held with Federal Bank or any other partner bank)
  • Option to send funds in real time without any need to wait for any cooling period as in case of NEFT/RTGS payments.
  • Get instant account balance of the linked bank accounts
  • Check the transaction history
  • Transfer of funds without the need to provide any banking details like account name, account number, IFSC code, etc as in traditional mode of funds transfer
  • Change the PIN multiple times
  • Lodge complaints and issues relating to the application and track them instantly.
  • Sending and receiving instant payments through the QR scan code
  • Register for associated mobile banking services
  • Security of the UPI account due to many authorization steps like password and PIN as well as single-click 2-factor authentication.
  • Using the application at e-commerce websites, making utility payments, recharges, etc.
  • Carrying out funds transfer at zero cost as compared to NEFT/ RTGS or IMPS modes.
  • Promoting a cashless economy and reaching the remotest corner of the country.

2. What are the transaction limits of Federal Bank UPI?

The transaction limits of Federal Bank UPI is tabled below

Particulars

Limit

Maximum number of transactions per day

10

Maximum value of transactions per transaction

Rs. 1,00,000

Maximum value of transactions per day

Rs. 1,00,000

3. Are the UPI services of the Bank available 24x7?

Yes. Federal Bank UPI can be accessed 24x7 by the customers.

4. Can a person make payments without logging in to the UPI account?

Yes. The latest technology of the Federal Bank UPI allows the user to send funds by using the Quick Pay or the Scan N Pay option without the need to login.

5. Can the application be used to pay utility bills?

Yes. Federal Bank UPI can be used to make utility payments towards registered partners and can also be used to set payment reminders for the same.

×Thank you! Your comment will be reviewed and posted shortly.

CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf.