Repetitive Payments
Setting reminders for your regular payments is now a thing of the past. With the new 'Repetitive Payments' option on db OnlineBanking, you can now schedule periodic payments with one single instruction.
Repetitive payment option has been currently enabled for online funds transfer and Deutsche Bank Credit Card payments.
Online Funds Transfer
The repetitive payments can be set up for the following funds transfers:
- Self Account Transfer: Transferring funds to any of your other accounts with Deutsche Bank.
- Third Party Transfer: Transferring funds to an account of other person, with Deutsche Bank.
- National Electronic Fund Transfer (NEFT): Transferring funds to own / other person’s accounts maintained with other banks.
- Real Time Gross Settlement (RTGS): Transferring funds to own / other person’s accounts maintained with other banks for an amount of 1 lakh or above.
How it works:
- Select the Repetitive Payment option while transferring funds online.
- Input the start date of the payment.
- Select the frequency of the payment (Weekly/Monthly/Quarterly/Yearly).
- Input the number of payments you want to make.
- Click on Submit and your instruction will be set.
Example: If a weekly (frequency) funds transfer of Rs. 500 is set up with 25th July 2009 (Saturday) as the start date and 5 as the number of payments, then Rs. 500 will be transferred to the beneficiary account every Saturday for the next 5 Saturdays starting 25th of July 2009.
Credit Card Payments
You can set-up repetitive payments to pay the Minimum Amount Due (MAD) or the Total Amount Due (TAD) every month against your Deutsche Bank Credit Card bill by debiting your db SavingsAccount or db CurrentAccount.
How it works:
You just need to select the Minimum Amount Due (MAD) or the Total Amount Due (TAD) that you want to pay every month and click on ‘Submit’. Once the instruction is set, the payment will be visible in the ‘Pending Payments’ section.
The amount due would be accordingly picked up from your credit card statement. Please keep a cushion of 3 days between the instruction date and the bill due date for effecting payment for the current month. Otherwise your instruction for payment will be effective from next month onwards.
Example: If your payment due date is 25th of a month, and you are making the repetitive payment on 23rd, then the credit card payment will only affect from the next month.