SBI Collect

SBI collect is the name given to a facility which is part of the Corporate Banking facilities. The SBI collect makes it easy for the businesses to receive online payments from those who have bought goods and services from them.  There is no need for them to maintain a website. This includes even goods and services that have been supplied by firms, corporates, or institutions. It applies also to the collection of fee from the students by an educational institution.  Applying for the sbi internet banking facility will help you avail the SBI collect facility.

How to avail of the SBI Collect facility?

If you are a corporate customer with sbi online banking facility who wishes to avail the State Bank Collect facility,

  • You should register for CINB (corporate internet banking) facility. The type of sbi net banking chosen should be Khata plus/ Vistaar/ Vyapaar. The other types of CINB do not qualify for SBI collect facilities.
  • After initiating a login, the CNIB administrator of the corporate has to configure the parameters by going to the State Bank collect page and select “ADD” to configure details of the corporate/institution. The administrator would have to configure the following parameters.
  1. Setting the type of corporate/ institution from the values listed
  2. Whether transaction charges are to be recovered from a customer or from the institution.
  3. Uploading the logo

Defining the payment categories and parameters

  • The corporate or institution is free to add all or some of the MOPs and enter the name of the payment system opted for
  • Key in the state of the corporate or institution from the listed values
  • The account number to which the credits should be pooled has to be specified
  • Once done, click on the “click here to configure payment amount details”. Then you would have to configure payment details such as Input name, input type which may be text or options, option parameters whether text or options and also if that field is mandatory or not.
  • Click on “Click here to configure payment Amount details”. Then configure amount details such as Name, Amount type whether fixed or variable.
  • You may also enter a start date and close date. It would be useful for educational institutions. However, this is not a mandatory requirement. But, if you wish to enter a start date, the end date is mandatory.
  • Click on “Click here for latefee or penalty “link. Configure details such as from date, to date as well as whether it is a fixed amount or a variable one.
  • You ned to mention the special remarks or the payment instructions that you want to pass on to the customers in form of word/pdf document not exceeding 100kb. The number of notifications is restricted to two.

When the above steps are completed, download the agreement, application/terms, and conditions document and the preview of the online fee payment form that would be displayed for making a payment.

Features of SBI collect

The State bank collect enables you to pay for the goods and services that you have bought from a corporate to be made easily by accessing the sbi online banking facility.

  • You need to click on the “State Bank collect”
  • Choose the corporate or institution for which you would have to make the payment
  • Fill up the details/particulars of the services or goods purchased
  • Make payment by choosing one of the options from the multiple option payment systems (MOPS)page.

The payment modes of SBI Collect

In its endeavor to make the collect a broad-based product, the following methods of payments are made possible. It includes

  • By cash/cheque at SBI branches
  • Using credit card
  • Other bank’s debit card
  • Internet banking platform of SBI
  • State Bank ATM cum Debit card
  • Internet Banking of other Banks (Including associate banks of SBI’s)

Some of the purposes for which the SBI collect facility is availed include

  • Payments for goods and services supplied to firms/corporates / educational institutions or other service institutions
  • Collection of the fee by educational institutions
  • Dues collection by the government or quasi-government bodies
  • Collection of taxes such as water tax, property tax, electricity bill etc. by semi-Government bodies.
  • Recruitment fee collection
  • Donations to charitable institutions or religious institutions.