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Introduction

Union Bank of India is one of the top 10 banks in our country. It is a public sector bank that provides net banking services among many other products and services offered by the bank. The current charges for the funds transfer facility of the bank through net banking are provided below.

NEFT

RTGS

Limit 

Charges per transaction (excluding taxes)

Limit 

Charges per transaction (excluding taxes)

Up to Rs. 10,000 

Rs.2.25 

Rs.2,00,000 to Rs. 5,00,000  

Rs. 24.50

Rs. 10,001 to Rs. 1,00,000

Rs. 4.75

Above Rs. 5,00,000 

Rs.49.50

Rs. 1,00,001 to Rs. 2,00,000

Rs. 14.25

Above Rs. 2,00,000

Rs. 24.75

The net banking facility of the bank is available 24x7 throughout the year (except for the listed days notified by the bank for each year).

What is net banking?

Union Bank Of India Net Banking

Net banking is the popular name for the Internet Banking facility of the bank. It is the facility or the banking service which allows the customer of the bank to perform most of his/her banking transactions online thus eliminating the need to physically visit the bank. Net banking facility includes various facilities like online transfer of funds, the opening of accounts or various schemes, paying various utility bills, start investment options like SIPs, apply for loans, etc.

How to use Union Bank Net banking?

The net banking facility of Union bank is available to all the existing account holders who have a savings bank account or a current account or at least one operating account with any of the branches of the bank. The net banking facility can be availed only after due registration for the same.

The registration for the net banking services of the bank can be done through either online mode or through offline mode as per the convenience of the account holder.

How to register for net banking of Union Bank?

The registration process for the net banking facility of the bank can be done through any of the modes mentioned below.

  • Offline mode
  • Online mode

The details of registration through the modes mentioned above are provided hereunder.

Offline mode

The offline mode for registration is when the account holder physically visits the nearest branch of the bank to register for the internet banking facility. The application form for the internet banking facility is available at the branch office which has to be duly filled and submitted by the account holder. After submitting it, the account holder will be provided with the user id and password which can be sent to their registered address. The charges for the same are,

For retail customer – Rs. 150 (postal charges) and Rs. 30 per password 

For corporate customers – Rs. 250 (postal + password printing charges)

The corporate customers of the bank have to mandatorily submit the application form for availing the internet banking services through the offline mode mentioned above. This will enable them to have the viewing as well as transaction facility.

Online mode

The offline mode for submitting an internet banking form is through the website of the bank using the ATM card or debit card or otherwise.

  • Individual customers who have their valid ATM cum debit card can create internet banking user id and passwords through the ‘Self User Creation module’ on the website of the bank. This is a very convenient, easy, and quick method for registering with the internet banking services of the bank.
  • Individual customers who do not have a valid ATM cum debit card can also create an internet banking user id and password. Such users can use the ‘Self User Creation module without ATM Card’ that is available on the website of the bank. Such registration will give them their User IDs with only ‘View’ rights. Subsequently, if the user requires access to perform or execute transactions, they can do so through the ‘Forgot/Reset Password’ Page.

What are the features of the net banking facility of Union Bank of India?

The net banking facility of Union Bank is equipped with multiple features and benefits that can be availed by the account holders after due registration for the internet banking services. Some of such features are mentioned below.

  • 24x7 banking facility from anywhere and at any time.
  • Viewing and printing of account statement of the account holder or related accounts under the same customer id (deposits held by the account holder, loan accounts, Demat account)
  • Getting the details of any transaction at anytime
  • Transfer of funds to own account or another account within the bank or another bank.
  • Making payment for direct or indirect taxes.
  • Payment of various utility bills like electricity bills, telephone/ mobile bills, etc.
  • The net banking facility of Union Bank of India can also be used to open a Demat account or make mutual fund payments or credit card payments.
  • Account-holders can also use the net banking facility to make shopping on e-commerce websites.
  • Another use of net banking facility is to buy online air tickets or railway tickets, etc.
  • Other functions that can be done through net banking are,
    • ordering a demand draft
    • request a new cheque book
    • open or view any new deposit accounts
    • reset passwords multiple times
    • add, delete or modify any beneficiary for funds transfer

FAQs – Union Bank Net Banking

1. Is the funds transfer through the Union Bank net banking facility free of charge?

A. The inwards funds transfer through net banking is free of charge. The outwards funds transfer through net banking is subject to nominal charges according to the slab rates mentioned as per the guidelines of the bank.

2. Can the password for a net banking account be changed multiple times?

A. Yes. Account-holders can change the password to the net banking account multiple times without any restrictions.

3. Is it necessary to add a beneficiary before transferring funds to their account through net banking?

A. Yes. The account holders have to mandatorily add the beneficiary before transferring funds to their account through net banking. The funds can be transferred after a minimum period of time (usually 30 minutes) from the time of adding the beneficiary.

4. What are the maximum charges of NEFT and RTGS facility of Union Bank?

A. The maximum charges of NEFT and RTGS facility of Union Bank are Rs. 24.75 for transfer of fund above Rs. 2,00,000 through NEFT and Rs. 49.50 for transfer of fund above Rs. 5,00,000 through RTGS.

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