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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.
About 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.
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,
After ensuring that the customers meet the prerequisites, they can continue with the registration process as detailed below.
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,
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.
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.
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.
1. What are the features of the Federal Bank UPI app?
The various features of Federal Bank UPI are highlighted below.
2. What are the transaction limits of Federal Bank UPI?
The transaction limits of Federal Bank UPI is tabled below
Maximum number of transactions per day
Maximum value of transactions per transaction
Maximum value of transactions per day
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.
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