How does Bulk Payment work?

A bank system that enables a payor to make multiple debit payments to a bulk list, such as a salary payment, is known as a bulk payment . A bulk list is a list of beneficiaries or credit accounts you want to pay from one debit account.

What is a Bulk Account?

A bulk account is a digital solution for any organisation to open a payroll or salary account for all their employees . The company’s employees need not be present at the bank for this account opening and will receive the salary amount every month in their accounts. The process of transferring bulk payment is fast, reliable and secure.

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What is Bulk Posting in SBI?

Q: What is Bulk Posting in SBI?

The simultaneous transfer of money from one source to multiple accounts is called Bulk Posting in SBI. This technique is extremely useful for companies as they need to transfer the salary amount to the account of their employees every month.

By Balaji

Updated on: February 17th, 2023

Bulk posting in SBI is the simultaneous transfer of money from one source to multiple accounts and is often referred to as bulk posting. The term “bulk posting” is used in the banking industry to describe mass transfers from one account to another. Any salary transfer from the current performance of the business to each employee’s salary account is often completed in bulk with a few clicks.

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1. Bulk Posting in SBI

Bulk Posting in SBI

The technical term “bulk posting” is often used in the banking sector. Bulk posting means depositing money into multiple accounts at once on a regular basis. For example, the government announces pensions, benefits, and subsidies for agriculture. Alternatively, companies can transfer employee compensation.

Bulk posting was introduced after the use of computers in the banking system. As before, bank tellers kept their salary in a register.
The cashier inputs data and multiple salaries feed into the computer as well as instructs to transfer all employees’ salaries to the listed accounts with a single click.
Bulk posting is used in the financial system to describe this process.
Whether there are hundreds, thousands, or millions of entries, bulk posting can be completed in a matter of seconds.

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What is Bulk Posting in SBI?

Bulk Posting in SBI

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