Overview
Federal Bank is an Indian bank (The Federal Bank Limited) with three roles: merchant acquiring, business accounts and escrow. It operates in India.
Merchant acquiring The bank offers fixed and wireless POS terminals that accept domestic and international Visa, Mastercard, Maestro and RuPay cards. Published terms are settlement on T+1 and no installation or maintenance charge. The business must have been operating for at least six months and hold a current account with the bank. Other terms are separated by legal entity and market.
Escrow The Escrow Current Account serves project finance, M&A, IPOs and other contractual transactions. It is also used for debt repayments, counter-trade, share transfers to foreign investors and court-related settlements. The published rate is 0.10% of the amount passing through the account, with a minimum of INR 25,000. The billing frequency and taxes should be confirmed.
Who it suits Indian merchants who want a terminal tied to a current account, and parties to transactions that need a neutral escrow arrangement at a domestic bank.
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