TMB FX eConnect

A dedicated finance solution for farmers and agri-operators to purchase tractors and related equipment for improved productivity and sustainable farming

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Finance for new tractors and essential farm implements

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Supports both farming and allied agricultural activities

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Flexible repayment aligned to crop and seasonal income cycles

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Quick processing with simple documentation for farmers

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Overview

TMB FX e-Connect is a secure online platform for managing foreign exchange transactions like remittances, letters of credit and forward contracts through TMB e-Connect Net Banking.

 
Product Highlights

The portal supports Foreign Outward Remittances (FOTT), Foreign Letter of Credit (FLC) and Forward Contract (FWC) services including booking, utilization and cancellation. Customers also receive SMS and email updates for every transaction processed

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Features and Benefits

TMB FX e-Connect offers a simple and secure way to manage forex transactions online with centralized processing support and easy document uploads. Customers benefit from faster processing, transaction tracking and reduced branch visits

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Eligibility

TMB FX e-connect Portal is available to customers of our Bank who are already having TMB econnect Net Banking facility. They have to apply for TMB FX e-connect facility and the 
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Guidelines for TMB FX e-Connect Operations

  • FOTT - Including Non Trade and LRS Purpose
  • Foreign Letter of Credit - Including of Amendment, Acceptance and Discrepancies
  • Forward Contract - Including of Booking, utilization and Cancellation
  • The Customers who are already having TMB e-connect Net Banking facility are eligible to avail TMB FX e-Connect facility. The customers have to submit the application* form with branches and the branches shall forward the application to Forex Processing Centre (FPC) for necessary approval.
  • Branches can download the application forms in our Help site or contact FPC in this regard.
  • The customers will enter the required details in TMB FX e-connect portal and upload all the required documents related to Foreign Exchange remittances and submit the transaction. The Forex Processing Centre (FPC) will directly handle the customer request, scanned documents uploaded by the customers in TMB FX e-connect Portal. FPC will scrutinize the documents and if documents are in order, FPC will process the transactions in Core Banking Solution, in the sol ID of the respective branches. In case of discrepancies if any, the same will be communicated to the respective branches.
  • An exclusive email ID fx_econnect@tmbank.in has been created for all correspondences related to the online foreign exchange operations in TMB FX e- connect portal. FPC shall communicate the branch through the mail fx_econnect@tmbank.in and the branches shall rectify the same and send the omitted/ rectified documents to fx_econnect@tmbank.in under the same reference. After the rectification of discrepancies, FPC will process the transactions in Core Banking Solution with the sol ID of the respective branches.
  • In case, the data submitted by the customer in the portal is discrepant beyond the level that can be handled by FPC, the transaction request submitted by the customer shall be rejected by FPC along with the sufficient remarks with regard to the corrections to be made in the request of the customer.
  • Upon rejection, the transaction request shall be forwarded to the respective branch of the customer. The branch should contact the customer and make the required corrections in the transaction request, by getting adequate particulars from the customer. After sufficient corrections, the branch shall forward the transaction request to FPC and FPC shall complete the processing of the request.
  • The customer will receive the SMS and e-Mail confirmation to their registered mobile number and Mail ID at the time of submitting the transaction in TMB FX e-connect portal and also receive the same once the transaction process is completed by the bank.
  • Customer can upload all the necessary documents at a time and the maximum size of a file is 5 MB.
  • The applications submitted up to 4.00 p.m. will be processed on the same day and remaining request will be processed on the next working day.

Transaction Amount Ceiling

For Foreign Outward Remittance (FOTT) 

  • USD 25,000 per day for LRS transaction / Non-Trade
  • Up to USD 1,00,000 or equivalent of Proforma Invoice / Sales Contract Value for all

For Foreign Letter of Credit (FLC) [Opening & Amendment] 

  • Within the sanctioned / available limit of the applicant

For Forward Contract (Booking) 

  • Within the sanctioned / available limit of the applicant

For Foreign Inward Remittance (FITT) 

  • No limit.

Time frame

  • Transaction entered in TMB FX e-connect Portal on a bank working day (during weekdays) between 10.00 am to 4:00 PM IST will be processed on the same day. 

  • Transaction request received after 4:00 PM IST on bank working day and during weekend will be processed on the next working day of bank. 

  • The customers also can get ongoing rate during the business hours i.e. From 10.00 AM to 4.00 PM.

Frequently Asked Questions

Find answers to the most common questions about eligibility, benefits, and
features of the TMB Royal Savings Bank Account

It is a digital platform for managing foreign exchange transactions electronically.

It is a digital platform for managing foreign exchange transactions electronically.
Eligible corporate and business customers can use the platform.

Eligible corporate and business customers can use the platform.
The platform supports forex transactions documentation and tracking.

The platform supports forex transactions documentation and tracking.
The platform follows secure authentication and regulatory standards.

The platform follows secure authentication and regulatory standards.
Yes customers must register and be enabled by the bank.

Yes customers must register and be enabled by the bank.
It is a digital platform for managing foreign exchange transactions electronically.

It is a digital platform for managing foreign exchange transactions electronically.
Eligible corporate and business customers can use the platform.

Eligible corporate and business customers can use the platform.
The platform supports forex transactions documentation and tracking.

The platform supports forex transactions documentation and tracking.
The platform follows secure authentication and regulatory standards.

The platform follows secure authentication and regulatory standards.
Yes customers must register and be enabled by the bank.

Yes customers must register and be enabled by the bank.