How to Add Beneficiary in Canara Bank?

Customers of Canara Bank can take advantage of the bank’s online fund transfer services. Customers must add/request a beneficiary before using services like MPS, NEFT, and RTGS to transfer cash.

There are two ways to add beneficiaries to a Canara bank account:

  • Net Banking with Canara Bank
  • CANDI (Canara Mobile Application)

Who is beneficiary in Canara Bank?

A beneficiary, also known as a payee, is the person who receives the payments. There are two types of beneficiary accounts: interbank beneficiary and intrabank beneficiary.

Customers that send money to a Canara Bank account are known as intrabank beneficiaries. Choose the Within Canara Bank option for intrabank beneficiaries.

Beneficiaries who receive funds from a different bank account are known as interbank beneficiaries. Select the Transfer to other banks option for Interbank beneficiaries.

Add Beneficiary in Canara Bank using Net Banking

How to add a beneficiary to your Canara Bank Net Banking account:

Step #1: Go to the official website of the Net banking at Canara Bank.

Step 2: Use your credentials to access the website.

Step #3: Choose the Money Transfer option after logging in.

Step #4: A list of options will appear in the next window. Make your beneficiary selection.

Step #5: Select the option to Add Beneficiary.

Select your transaction type in step #6. Within Canara Bank and Transfer to Other Banks are the two options displayed on the website.

Step #7: If you want to send the money to a Canara Bank account, then choose “Within Canara Bank”.  To send funds to a different bank account, then select the “Transfer to other banks”.

Step #8: Enter all of the necessary beneficiary information, including the IFSC code, beneficiary name or Nickname, branch name, and so on.

Step #9: Review your information and click the Confirm button.

Step #10: Enter the one-time password (OTP) supplied to your registered phone number. You can always generate a new password by clicking the Regenerate OTP button if you missed the previous OTP.

Step #11: Click the Submit button after entering the transaction password.

Step #12: Your Canara Bank Net banking beneficiary has been successfully added.

Add Beneficiary in Canara Bank using Mobile Application CANDI

How to add a beneficiary to the Canara Bank Mobile App CANDI:

Step 1: Download the CANDI mobile banking app from Canara Bank and log in.

Step #2: Choose the transfers option under the See Your Balance option in Online Banking.

Step #3: To add new beneficiaries, select the beneficiaries option.

Step #4: The next window will provide you the option of choosing between Canara Bank and other banks.

Step #5: Select Within Canara Bank if your beneficiary has a Canara Bank account, and Other Bank if your beneficiary does not have a Canara Bank account.

Step #6: The next screen will ask for beneficiary information such as bank name, account number, IFSC code, nickname, and so forth.

Step #7: To continue, enter all of the beneficiary’s information and click the Save button.

Step #8: Fill in your MPIN.

Step #9: The Canara Bank mobile application CANDI has successfully added your beneficiary.

Canara Bank Beneficiary Activation Time

On business days, Canara Bank activates your beneficiary in around 30 minutes. You can transfer the monies after 30 minutes.

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Canara Bank Operating Hours and Timings

Mini Statement from Canara Bank: Missed Call Number, SMS Banking

Frequently Asked Questions

What are the charges for adding beneficiaries to Canara Bank?

It is free to add beneficiaries to the bank. Consumers are not charged a fee to activate beneficiaries.

What is the beneficiary cooling period in the Canara Bank?

In Canara Bank, the beneficiary has a 30-minute cooling off period. The payer has 30 minutes to complete the transactions.

How will the payer know whether the transaction to the beneficiary is successful or not?

The remitter/payer will receive notification that monies have been successfully credited to the beneficiary. A receipt will be provided to the payer.

What will happen if the transaction is unsuccessful? 

If the transaction fails and the funds have already been deducted, the monies will be returned to the original account. Within one hour of the payment being released, the debited funds will be credited.

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