Bulk Posting Meaning: What is Bulk Posting in SBI?

Bulk Posting SBI

If you are looking to understand what is meant by the bulk posting and process to bulk posting in SBI bank. Then, this article will be beneficial to you. So scrolling and reading the fundamentals about bulk posting in banks.

Bulk Posting Meaning

Bulk posting is a technical term popularly used in the banking system. Bulk posting means crediting funds in multiple accounts continuously at the same time. In this process, the money is credited to multiple accounts from a single source only. For instance, when the government announces any subsidies, pension, or other benefits to the farmers. Or any corporate company or institution transfers their employee’s salary.

What is Bulk Posting in SBI?

Bulk posting in SBI is the process of transferring funds to several accounts simultaneously from a single source. It is commonly known as bulk posting. 

Bulk Posting is a banking line terminology used to denote the bulk transactions from only one account to multiple accounts. Bulk Posting is usually done in the case of any salary transfer from the company’s current account to all employee’s salary accounts in just a few clicks at once. 

Bulk Posting was introduced after the introduction of computers in the banking system. As earlier, bank cashiers used to maintain salaries in a register. But now, the process of funds transfer is technically easier.

The cashiers make entries and feed the several salaries into the computer and execute commands at once to transfer all the employees’ salaries in the listed accounts in one click. This process is commonly known as Bulk Posting in the banking system. Bulk postings are done in a few seconds, although the entries may be in the hundreds, thousands, or lakhs.

Also Read: SBI Mini statement: Missed Call Number, SMS Banking

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

Usually, the transaction through the bulk posting is done for the selected groups of people under either some schemes, salary transfer, or similar transactions. If you are getting credits under bulk posting, which is shown in your bank statement. 

There may be only two causes: either you are one of the real beneficiaries of that fund or may result from any technical error. Your account has been added to the beneficiary lists by mistake. So, if you are the real beneficiary, you need not worry about it. However, if you think it’s a surprise fund credit to your account, you must ask and inform the branch for clarification.

Once the bank transfers the fund, the bank itself will not be able to put back that money until you don’t allow it or undergo a certain fund transfer procedure. 

However, the banks have the authority to freeze your account so that you will not withdraw money. However, you can do the rest of all necessary things like you can credit amount, receive subsidies or salary, etc. 

For this, you will need a normal application form which you can get from the branch. And write an application with the subject of “Wrong credit to your account.” Then, mention your account number and other details like your full address and mobile number, like the fund credit date. Finally, submit it to your branch. 

You might undergo the legal process if you tried to act smart by withdrawing the money if you notice this error earlier than the bank.

Final Thoughts

Bulk posting is convenient and easy to transfer funds to several accounts from a single account. It saves a lot of time for the bankers in transferring funds. So, being a responsible citizen, you must inform the bank if you get any wrong credit or debit to your account.

Also Check:

SBI Bank Timings & Working Hours

What is SBI Beneficiary Activation Time?

How to Unblock SBI ATM Card Instantly?