What is the meaning of Bulk Posting | What is Bulk Posting in SBI?

If you want to understand the meaning of batch posting and batch posting process of SBI Bank. Then this article will help you. So, scroll down and read the details of the bank’s various announcements.

Bulk Posting Meaning

Bulk posting is a term widely used in banking. Batch deposit means the permanent and simultaneous deposit of funds into several accounts. In this process, funds are deposited into multiple accounts from one location. For example, when the government announces benefits, pensions or other benefits to farmers. Or a company or agency changes employee salaries.

What Is Bulk Posting In SBI?

Batch broadcasting in SBI is a transfer from one location to multiple accounts. You could call it “bulk posting.”

The term “bulk posting.” is used in the banking industry to describe the large amount of money transferred from one account to another. When converting a company paycheck to each employee’s paycheck at a time, electronics are most commonly used.

With the emergence of technology in the financial markets, more and more advertisements have been created and are now entering debit (credit) in the electronic world. In the past, financial advisors put their salaries on the list. However, money transfers are now easier at the school level. The borrower enters several salaries into the computer and makes orders at the same time to convert the salaries of each employee into a single account.

Also Read   How to register for IDBI net banking registration online in just 5 minutes

More publicity is the time the bank invests in this process. It can contain hundreds, thousands or millions of articles, but most advertisements only take a few minutes to run.

Major announcements, known to financial companies, occur when electronic devices are configured in a specific order and entered into a computer with commands to release the specified total amount at once. Resolutions are usually accomplished through multiple publications when needed on a regular basis. In other words, posting multiple debit or credit transfers to/from an account or group of accounts is called “bulk posting”.

The most common examples of batch posting entries are annual payrolls/payments (one company pays/annually and multiple accounts are accepted), borrowing, or deleting/editing entries.

You may see a lot of ads even on average fees (such as annual ATM fees, returns, SMS, etc.).

If the company and most employees have money in the same bank, all account numbers and employee salaries go to the main financial institution and the earnings will be deleted. from your business account. This information has been published and many articles have been published.

Bulk Posting in Savings Account

Excessive savings may be caused by announcement of distribution, refund or interest rate on deposit, etc.

There will always be valid explanations as well as various announcements to confirm why the credit was granted.

If you are unsure of your credit and believe your credit has been misplaced, you should contact your bank account for further information.

What to do if you get the Wrong Credit under Bulk Posting?

Typically, multi-media marketing is made up of groups choosing based on a plan, payment exchange, or similar exchange. If you benefit from the many advertisements that appear on your bank statement.

Also Read   How to register for IndusInd Bank (IIB) Net Banking, Login, IFSC Code , Customer Care Number

There are only two reasons. Maybe you are a real beneficiary of the money, or it could be due to a mistake. Your account has been added to the benefits list. So, if you are a real beneficiary, you don’t have to worry. However, if you think this is an amazing benefit for your account, you should contact the company for more details. When a bank transfers money, the bank itself cannot collect it until you give permission or go through a transfer process.

However, the bank has the right to close your account to prevent you from withdrawing money. However, you can do all necessary work (such as loans, grants or salaries received, etc.).

To do this, you will need a general request which can be obtained in branch. And fill in the application with the words “Deposit to the wrong account”. Then say your account number and other details such as your address and mobile number (like the date of the loan). Finally, refer to the branch.

If you see this error in front of your bank account, you could be sued if you tried to withdraw your money correctly.

Leave a Reply

Your email address will not be published. Required fields are marked *