Collection
We collect fees/charges for Educational Institutions/Universities/Colleges/Schools /Examination Boards pan India.
MODES OF COLLECTION of Fees
Cash Deposit
- Under this system student can go to any of our 4900+ branches and deposit the fees to the designated account of the educational institute.
- It can be in a customized Challan form which will be pre- approved.
- The institute can avail standard MIS reports from the bank which can be system generated with full details of the student or can be customized as per the requirements of the institute.
Online Payment
Student logs into the Institute’s fee payment module and fills in the desired fields of information on their website after which it is directed to the Bank of India fee payment portal.
Payment through Internet Banking
Student selects Bank of India or any bank having his account and logs in with the correct credentials after which he proceeds with entering the payment. After successful payment, he receives the successful receipt information online.
Payment through Credit Card
Student selects the credit card (VISA / MasterCard/RuPay) and proceeds with the information / OTP details for the payment through secure VISA/MasterCard/RuPay payment system. After successful payment, he receives the successful receipt information.
Payment through Debit Card
Student selects the payment through Debit card of any Bank and is directed to the Debit card secure payment gateway where he enters the authentication information. After successful payment, he receives the successful receipt information.
Nach Debit Mandate
NACH Debit Mandates drawn on any Bank is to be collected by the school authorities from each student/parents and handed over to us. These mandates would get registered with respective banks centrally and electronically through NACH platform of NPCI. On pre-decided fee collection dates, transaction file is created and uploaded on NACH platform for debiting students’ account in respective banks, collected fund is credited to the School/s account along with detailed MIS.
Benefits to Colleges / Universities / Institutions:
- Immediate Credit to Educational Institute’s Account for amount deposited at any branch
- Customized MIS with Name, Class, Roll Number etc.
- One stop Cash Management and Self-Service Portal
- 360* view of the business with Better Operational Efficiency
- Assessment of Dues and Future credit for better Planning
Benefits to Student/Parents
- Facility to pay fees at BOI 4900+ Branches
- Facility of paying fees through NACH Mode
- Facility to pay fees through Net Banking, Credit Card & Debit Card.
- Ability to pay fees 24 x 7
- Ability to pay fees Pan India
Other services for educational institutions:
- Govt. grant collection account
- Distribution of scholarship to the students with MIS
- Staff salary accounts / tie-up for bank’s retail loan products
- Opening of Students’/parents accounts to facilitate fee collection
- Education Loan to students
- To design specific services/MIS as per your requirement.
Government Tax Collection
One of our major services offered is tax collection for various state/central government departments.
Facilities Provided
e-payment(Direct & Indirect taxes)
e- remittances, RTGS,NEFT
e-Payments through Payment Gateway
Modes of e-Payment
- Net-banking services of all banks
- Credit cards (Visa, MasterCard, Amex, Diners, etc)
- Debit Cards
Premium Collections: Insurance Sector
It is said that insurance is the matter of solicitation. However, it is important for the insured and for the insurer to ensure payment of the premiums on scheduled date to keep the policy in force. Penetration of insurance to the rural area presents a challenge for timely collection of insurance premiums. It is a matter of concern for both the insured and insurer. We have developed an utility which enables the policy holder to visit any branch of the Bank and pay the premium. The branch operator will invoke the special menu created for the purpose and enter the basic data such as Policy No. and Date of birth. The system will validate the information online with the insurance company instantly through interface and fetch the information such as premium payable. Now the policy holder can pay the premium by cash or transfer cheques. This facility is available PAN India through all our branches.
Benefits
Insured’s payment details are updated real-time with Insurance companies thereby providing real-time benefits to the insured. Insurance companies are also benefitted by having reach to almost every nook and corner of the country for collection of premiums with instant credit of their accounts and getting real-time MIS, enabling them to grow their business substantially.
Payment Of Equated Monthly Instalments Through Ecs/Nach Mode for Loans Taken From Bank Of India
Anybody availing loans from Bank of India and opting to pay EMI from Bank account of any other bank can do so by just giving an ECS/NACH mandate to the branch from where he has availed the loan. These mandates will get registered with respective banks electronically. On the date of EMI repayment, a transaction file will be run for debiting the account for which Mandate has been given and crediting the loan account. We have released the facility on Pan India basis.
Benefits to the Customer:
Customer need not to be worried about payment of EMI on a particular date and spend his time for depositing amount of EMI. His account with other bank will be debited and loan account with us credited automatically.
Cheque Printing Facility (STARPRINT):
Bulk Cheque Printing Facility is provided to Corporates/Institutes needing to pay large number of beneficiaries frequently/on regular basis.
The cheques are printed by the Bank on behalf of the client on the basis of soft copy of the instructions containing the name of the beneficiary, date, amount, instrument No. received in encrypted password protected format.
Additional details such as covering schedule and structured acknowledgement are also printed, if requested by the client.
The digital signatures of the authorized signatories are also printed making the instrument alteration proof.
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