Secure and Convenient Connected Banking in TallyPrime

Last updated on: January 20, 2026 | ⏱ 5 min read

Connected Banking in TallyPrime is where convenience meets security. This means your banking, your data, and your control.

Connected Banking in TallyPrime brings your financial information and payment workflows closer to your everyday accounting tasks. Whether you’re simply fetching bank balances, getting bank statements, or even making payments online directly from TallyPrime, Connected Banking is designed to operate with one principle at its core: you should always feel safe and in control, while you can do your daily banking activities with utmost convenience in a time‑saving manner.

Every action in Connected Banking is protected by multiple layers of security—so you can focus on running your business while TallyPrime ensures your banking data stays secure.

Designed with Safety at Every Step

Encrypted secure API communication
Two‑factor authentication (2FA) with Tally.NET credentials and OTP
Bank‑verified OTP authorisation
Role‑based user access
Configurable payment controls
ISO/IEC 27001:2022 compliant practices
This ensures that the information security management practices are implemented and regular audits are conducted for secure financial, banking, and payment services through TallyPrime for its customers.

With these security aspects integrated into the feature, you get a safe, reliable, and predictable experience every time you use Connected Banking.

Key Security Controls You Can Rely On

2 Factor Authentication Login for Connected Banking

Every login requires:

This ensures that only genuine and authorised users can access banking features.

For multiple users and multiple admins, such as in SBI Bank, you can add the users in advance and provide their mobile numbers on the bank portal. Therefore, only these known users can access Connected Banking.

Additionally, before the users can use the bank accounts for Connected Banking, they must get approval from the one who connected the bank accounts to TallyPrime.

Enable and Disable Online Payments anytime

Online payments via Connected Banking are disabled by default.

You can enable and disable online payments for each bank connection. Rest assured every change is verified through an OTP.

This keeps ownership squarely in your hands and prevents misuse or accidental transactions.

OTP Verification for Every Payment

Before any payment is processed:

Your bank sends an OTP
You confirm the transaction

This means each payment is authenticated directly with your bank and also by you.

Adjustable Transaction Limits

You can ensure that the transaction limits are set in TallyPrime and also as per the bank limits.

You can set single and daily transaction limits for all your bank accounts used for Connected Banking in TallyPrime.

These limits also reduce exposure to errors and protect you from high‑value unauthorised activity.

If someone increases these limits:

OTP verification is required
An e‑mail notification is immediately sent
The new limit becomes active after a 12‑hour cooling period
This period adds a critical buffer of protection.

Stronger User Controls Within Your Company

TallyPrime 7.0 provides enhanced role‑based controls so that only trusted users can access sensitive banking information or perform payment‑related activities.

You can restrict users from:

Entering or modifying bank details
Sending online payments
Sending payments for transactions for which bank details mismatch with masters
Viewing or using e‑payment reports

These checks ensure only the right people can perform important banking operations.

Secure API-Based Integration

Communication between TallyPrime and partner banks is encrypted. This keeps your banking information private and ensures it can’t be viewed or intercepted by unauthorised parties.

Best Practices to Stay Even More Secure

While Connected Banking is built with robust protection, your routine habits further strengthen your safety.

Follow these best practices:

Keep your credentials confidential: Never share your bank login ID, password, OTP, or PIN with anyone—including staff, partners, or support teams.
Enable strong authentication: Use strong passwords and keep changing your password every month.
Assign user access carefully: Provide access only to authorised users. You must also review user role‑based access and permissions periodically.
Verify transactions before approval: Always cross‑check beneficiary details, amounts, and narration before authorising payments.
Disabling online payments when not using: Disable payments if you are not using Payments via Connected Banking.
Review and update transaction limits: Effectively set transaction limits, as needed.
Bank reconciliation: Periodically reconcile bank statements and monitor transactions to quickly identify any unusual activity.
Use trusted devices and secured networks: Access Connected Banking only from secure devices and trusted internet connections. Avoid public or shared systems.
Log out after using Connected Banking: Always log out of Connected Banking when done on shared systems.
Report suspicious activity immediately: Report anything unusual immediately to your bank and support team.

These steps help maintain a safe environment around your Connected Banking experience.

Connected Banking in TallyPrime brings convenience and control together—without ever compromising on safety. With multi‑layer protection, strong authentication, and conscious user controls, you can manage your banking confidently and securely.

TallyPrime keeps your financial world protected—every step of the way.