Organisation : Federal Bank
Facility Name : E-Fee School Fee Collection Service
Applicable State/UT : All India
Website : https://www.federalbank.co.in/efee
What is E-FEE School Fee Collection Service?
E-Fee is the fee collection solution which has been developed for educational institutions to make the fee collection process free of hassles.
Related / Similar Facility : Federal Bank Generate Account Statement
Features & Benefits of E-FEE School Fee Collection Service
Features:
** E-Fee collection can be done in the form of Cash/Transfer/Clearing.
** Additionally the parents having account with us can register for Auto Debit facility for collection of school fee. The amount will be debited automatically from the account of the parent as per the data given by the institution.
** To provide convenience to the parents we have extended the E-Fee facility to mobile banking through the menu option “M-Fee” in FedMobile.
** Going forward we have developed a portal for payment of school fee through Debit/Credit cards of any bank and also FedNet.
Benefits:
** Fee Remittance facility at any branch of Federal Bank
** Supports collection of Late Fees as flat amount or as late fees
** Amount that is incremental on a monthly/daily basis can be collected.
** Supports crediting of fees to different accounts based on Fee Type- like tuition fee, bus fee, book fee, etc
** Remittance by Cash or Cheque.
** Instant credit to Institution’s Account with the Bank.
** MIS reports provided to the institution on a daily basis in uploadable format thus avoiding any data entry at institution.
** Easy reconciliation
** Periodic Defaulters’ Report
How It Works?
** Fee collection Account of Institution to be opened with us
** The institution shall provide the student data and fee data in a prescribed template
** The data so provided will be uploaded in Federal Bank’s Core Banking System
** Once uploaded, the fee data will be available across all branches of Federal Bank
** When new students join, their data shall be provided by the institution in the same prescribed format on a weekly/monthly basis for upload in the system
Federal Bank E-Pay
** E-Pay is the auto debit of School Fee from the Parents’ account. The parents can open accounts in any branch of Federal Bank.
** By filling a mandate, the fee amount will be automatically debited from the parent’s account as per the details given from the institution/school.
** Parents need not worry about the due date as the fee will be taken from the account automatically.
** Useful for parents who are working abroad.
** The institution shall collect the EPay Registration forms related to the students, whose data has been so furnished, from the parents and submit it to the our branch along with the data.
** Once the files are uploaded in EPay, the fee collection will commence 15 days (configurable) prior to the due dates and the due amount as on date will be collected automatically, provided there is sufficient balance in the account.
** When new students join, the above procedure to be followed for such students preferably on a weekly/monthly basis.
** Daily fee collection reports will be sent to the institution by email and periodic defaulters’ report will also be made available to the institution.
Federal Bank M-Fee
** Payment of fees through mobile banking is enabled through M-Fee.
** Parent shall have a Mobile Banking registered Federal Bank Account
** The institution and student ID has to be selected in the FedMobile, our Mobile Banking Application.
** The fee details will be fetched.
** The parent can pay the fee through the mobile after confirming the data and entering their password.
Federal Bank Payment Gateway
** Fee payment can be done through Federal Bank’s payment gateway at Easy Payments, the dedicated payments portal of Federal Bank.
** School’s availing this service will be listed at our payment gateway’ portal
** A link to the payment gateway can be provided at the School’s website
** Payment can be done using any Bank’s Debit/Credit Card
** Visa/Maestro/ MasterCard accepted