How to add beneficiary in Corporation Bank – [Online]

How to add beneficiary in Corporation Bank Net Banking:

Corporation Bank is one of the reputed public sector banks in India that provides various facilities including Internet banking to their customers.

If you want to do corporation bank online money transfer to any other bank account then first you need to add beneficiary. To add beneficiary, you must have internet banking facility. Otherwise you can not do this.
 
If your internet banking is not active, then first activate it. Then, you can add beneficiaries to transfer funds online from one account to other.
 
If you want to “Add Beneficiary in Corporation Bank” then you must have following details:-
  • Beneficiary name
  • Account type
  • Account number
  • Bank branch IfSC code
  • Branch Name
In this article, we are going to cover complete process for adding beneficiary. Also we will tell, how to transfer funds online.
 
Are you curious about knowing the procedure?
 
If yes, then let’s go ahead and check step by step procedure. To know the full procedure, please read this article till the end. First we will see:

Who can add beneficiary?

As we already mentioned that net banking service is must for adding beneficiary. So only those customers can add beneficiary who have internet banking facility.
 
Using the net banking facility you can operate you account from home, office or anywhere else 24/7.
 
You can transfer funds in real time by completing some simple steps.
 
Apart from this, it is completely secure with some security channels.
 
Corporation Bank account holders need to have:
  • All existing Corporation Bank Net Banking account holders can add the beneficiaries.
  • Users must have a valid user ID and password for login internet banking.

Steps Required For Online Fund Transfer

If you want to transfer funds to any other bank account then you will need to go through below three steps:
  1. Add Beneficiary details
  2. Then, Activate Beneficiary.
  3. Finally, Transfer Funds or Money.
Now, you can check the step-wise details below to add beneficiary in Corporation bank.
 
Once you add the beneficiary to your account then you can transfer funds to the any bank account with ease.

Steps to Add beneficiary in Corporation Bank – [Inter-Bank]

  1. First of all, visit the official website of bank retails banking at https://www.corpretail.com .
  2. Then, enter Net banking User ID and click “Continue” button.

how to add beneficiary in corporation bank

  1. Now, type your password and click “Login” button.

Corporation Bank beneficiary adding time

  1. After clicking the Login button, you will be on your net banking homepage. There you will need to click “Fund Transfer” option.

how to add beneficiary in corporation bank net banking

  1. Then, open link – “Third Party- NEFT/ RTGS”. Next you to need to click “Beneficiary Maintenance” option.

how to add beneficiary in CorporationBank

  1. Now, you will see NEFT/ RTGS Maintenance page. There you can add other bank beneficiary details by clicking on “Add Payee” button.

Corporation Bank add beneficiary procedure

  1. Then, “NEFT/ RTGS add payee-New” Form will open. Now you will need to fill this form with required details such as:-
    • Your name
    • Account number (NEFT account number is same thing).
    • IFSC code
    • Address
    • Mobile number
    • Email ID
  2. After that, click “Submit” button.

corporation bank beneficiary activation time

  1. Then, you should check your filled details, if everything is correct then enter “Authorization Password”.
  2. Finally, click “Confirm” and “OK” button.

Corporation bank beneficiary adding

  1. Now, you will receive “Activation Code” on your registered mobile number.
  2. Enter the “Activation Code” and click “Submit” button.

corporation bank net banking add beneficiary

  1. Once, you click submit button, you will see a following confirmation message:
    • “beneficiary added successfully, you will receive reference number through mobile to activate the payee.”

  2. You should also note that you can add maximum five beneficiaries per day.

how many time to get add beneficiary account in corporation bank

Steps to add beneficiary in Corporation Bank – Intra-bank

  1. After Login to your net banking account, Click “Fund Transfer” option.

how to add a new beneficiary in corporation bank

  1. Then, click “Third Party- Corp bank”.
  2. Next, click “Beneficiary Maintenance” option,
  3. Then, click “Add Payee” and fill the form and submit.

how to add beneficiary in corporationbank online

Note: You can fill the form as per above instructions as we already discussed in inter-bank beneficiary section.

Steps to activate beneficiary

  1. To activate an added beneficiary, go to “Beneficiary Maintenance” option.
  2. Then click “Activate Payee” option.

how to check beneficiary details in corporation bank

  1. Now, you can check beneficiary details and status.
  2. You will have to click short name link to activate beneficiary. So, click short name link of the beneficiary.

in how much tym beneficiary can be added in corporation bank

  1. Then, beneficiary details appear on the screen. Check the details and click “Activate” button.

add intra bank beneficiary corporation bank

  1. Then, enter the reference number that you have received on your registered mobile number. After that, click “Confirm” button.

add inter bank beneficiary in corporation bank

  1. Finally, you will see a confirmation message display that “Beneficiary activated successfully.
  2. You can transfer funds to this beneficiary after 24 hours only.
  3. Till then you can send maximum Rs.10000/- per transactions up to limit of Rs.25000/- in a total of this beneficiary”.

add intrabank beneficiary in corporationbank

Steps to Transfer funds to beneficiary

After adding a beneficiary and activation process, you can check the status of the beneficiary through “View Payee” option.

It shows Active status.

Now, you can transfer funds with NEFT or RTGS.

NEFT Transfer:

  1. First, you need to click “NEFT Transfer” link.
  2. Then, select branch name/ corporation bank 15 digit account number, beneficiary short name, enter a payment amount, schedule date, remarks (if you want), mobile number etc. and then tick the box of terms of conditions. Finally, click “Submit” button.
  3. Now, you will need to enter authorization password and then click “Confirm” to complete the transactions.
  4. Then, enter OTP received on your registered mobile number and click “Submit” button.
  5. The payment will be credited to the beneficiary account. You can save the transaction report in PDF format.

Corporation Bank IMPS charges

IMPS done through branch Rs 10/- per transaction
IMPS through Net Banking Rs 5/- per transaction
IMPS through Mobile Banking App NIL

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