What is ‘Bulk Posting’ in SBI or Bank account Statement

Banks use various terminologies for different kinds of operations that take place in bank. Most of these terminologies are hidden from customers. However once in a while, customers get confused about the meaning of particular term in their bank statement such as ‘consolidated charges‘ in Axis Bank. If you are customer of State Bank of India, then you accidently might have come across the term bulk posting in your SBI account statement.

What is bulk posting in SBI or any bank?

When bank has to credit or debit large number of accounts of customers with different account numbers, the bank uses bulk posting as means of doing the activity of credit or debit all at once.

This is done in order to lessen the amount of time required for the process. As you are aware that there are lakhs of customers of SBI. So when there is a payment to be made for some government scheme such as MNREGA, the number of beneficiaries can be in thousands. So, bank will simply use the computerized list of beneficiary account numbers and perform bulk posting operation instead of entering individual account number.

 The entries are made electronically in particular order in a file. Then the complete file or batch is executed with computerised command to post to all the listed accounts.

If any of such transactions involving 100 or more entries at for the same purpose will come under bulk posting.

What to do if you get wrong credit/debit under bulk posting?

Generally ‘Bulk posting’ is meant for selected beneficiaries of some scheme in the bank. It can be done for disbursing scholarship, salary payment of organization or any other government scheme.

Now the question is why you are getting bulk posting in your account statement?

There can be two circumstances under which you might get ‘bulk posting’ entry in your account.

1. You are actually a beneficiary of some government scheme
2. Error in the list

In case you are intended beneficiary of the scheme then you don’t have to worry about it. However if you fall in the second type, then you will have to take some actions immediately on noticing this.

It is just matter of time that bank will notice that they have credited to wrong account using bulk posting. Once the bank knows it, it will simply debit your account or put a hold on your account. This means that you won’t be able to use the amount credited to your account. Please note that the nature of posting could be credit or debit.

In order to avoid any clashes with bank, you should immediately inform bank officials regarding the wrong credit entry to your account.

In order to inform the bank official you might be requrired to write a simple application form with subject ‘Wrong credit entry to account’.

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