Remittances Through FX Channels-FXOnline FAQs

Who all are eligible to apply for FXOnline? What are the registration formalities?

All customers holding current accounts with us are eligible to apply for FXOnline. To register, you need to fill up a FXOnline registration form and submit it along with the following documents: For Companies - Board Resolution signed by two directors / chairman / company secretary For Partnership Firms - Partnership letter For Sole Proprietorship firms - Sole Proprietorship letter For HUFs - HUF letter. Please contact your Solutions Manager / Relationship Manager (SM/RM) for the letter formats or call our Corporate Care phone number 022-28307799 (choose options 1-4-9) between 9 a.m. and 6 p.m. on business days.

What is the process after I submit the form?

You will be sent the user ID and password along with an acknowledgement form at your mailing address. Please fill up the acknowledgement form and fax it to the number indicated on the form. We will activate the user ID when we receive your fax. After you receive your password, you will need to log on to and change the password.

I have submitted the form but not yet received the password?

We dispatch passwords immediately after creating the user ID. If you have not received the passwords by courier after receipt of your user ID, please contact your SM/RM or call our Corporate Care phone number 022-28307799 (choose options 1-4-9) between 9 a.m. and 6 p.m. on business days.

I am able to log in but need help in using the system.

Please go through the demo that is present at our site

What are the minimum system requirements?

The minimum requirements to run FXOnline are: Processor - 600 MHz Memory - 512 MB RAM Java version - 1.5.0_11 OS - Windows 2000/XP with service pack 2 Internet Explorer - Ver. 6

I cannot take a printout of the deal ticket. What should I do?

Please follow these two steps: Step 1: Your pop-up blocker might be enabled; so, it does not allow the deal ticket to open. To disable the pop-up blocker, please do the following: Go to Tools > Pop up blocker > Turn Off Pop-up Blocker If the Yahoo toolbar is also installed, please click the pop-up blocker on it and disable the blocker. Step 2: Please Go to Tools > Internet Options > Security tab > Trusted sites > Site button. When you reach here, add the following link:

I could not log in. Instead, I got the message " Log-in not-error - Bad login" or "Your account is locked"

You must have inadvertently entered a wrong password. Please enter the correct password. Entering a wrong password thrice in succession locks your account. If you do not remember the password, please log a call on "Change password". Your password will be re-set and an e-mail will be sent to you.

I booked a deal but forgot to take a printout of the deal ticket. What to do? Can I view a history of transactions? Can I get a report of all the transactions?

You can go to "Deal log" and retrieve the data you need. You can also take a print of all/any deals.

Do I have to inform my branch after booking the deal?

Yes, you need to submit the printout of the deal ticket to your branch along with other documents.

What are the various settlement types?

The settlement types are: Today: T+0 - Settlement on the same day Tom: T+1 - Settlement on the next business day Spot: T+2 - Settlement on the second business day. Forward: T+ (specified period) - Settlement on the indicated value date.

Can a term deposit be part-closed and pre-closed (before maturity)? If yes, what are the terms and conditions for it?

Yes. An EEFC Term Deposit can be part-closed and pre-closed by giving a request to that effect. A penalty would be applicable on part-closure and pre-closure of the term deposit. The rate of interest applicable on part-closure and pre-closure would be:1% below the rate applicable for the period for which the deposit has remained with the Bank or 1% less than the contracted rate, whichever is lower. Further, no interest is payable if the term deposit is broken within 7 days.

I don't have forward limits. How do I book forward deals?

Please contact your SM/RM for the necessary formalities. Once the forward limit is set, you can book forward deals through FXOnline.

I booked a wrong deal. What should I do?

You need to reverse the deal by booking an opposite deal through FXOnline. Please indicate "towards reversal of Deal ticket number XXXX " in the memo field. E.g. If you have entered a Sell USD deal for $20,000 instead of a Buy USD deal, first you have to cancel the original contract by booking a Buy USD deal for the same amount and then book the correct deal. As per Reserve Bank of India guidelines if the reversal results in a profit, it will not be passed on to the client. If the reversal results in a loss, it has to be borne by the client.

What if somebody misuses my user ID and password?

If you suspect any misuse of your FXOnline ID, please contact your SM/RM or call us at our Corporate Care phone number 022-28307799 (choose options 1-4-9) between 9 a.m. and 6 p.m. on business days.

Please remember that you are responsible for all the deals booked through the user ID provided to you. We expect you to keep it secure and change your password every 30 days.