What is Bulk Posting in SBI?

By Shivank Goel|Updated : September 5th, 2022

Bulk posting in SBI is to transfer money from one source to multiple accounts simultaneously, and it is frequently referred to as bulk posting. The term "bulk posting" is used in the banking industry to describe large-scale transfers from one account to another. Any salary transfer from the business's current performance to each employee's salary account is often completed in bulk with a few clicks.

Bulk Posting in SBI

The technical term "bulk posting" is frequently used in the banking sector. Bulk posting means routinely crediting money to multiple accounts at once. For instance, the government announces pensions, benefits, and subsidies for agriculture. Alternatively, companies may shift the employee's compensation.

Following the use of computers in the banking system, the bulk posting was introduced. As in the past, bank tellers used to keep track of their salary in a register. The cashier input data, feed multiple salaries into the computer and simultaneously carry out directions to transfer all employee wages in the listed accounts with a single click. Bulk Posting is used in the financial system to describe this procedure. Even though there may be hundreds, thousands, or even lakhs of entries, bulk postings can be completed in a matter of seconds.

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FAQs

  • An arrangement for the provision of cable service at a discounted or bulk rate to a multiple residential dwelling or other property between the Company or any of its wholly-owned Subsidiaries and the owner of such multiple residential home or other property is referred to as a bulk account.

  • 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.

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