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RTGS/NEFT/IMPS

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RTGS/NEFT/IMPS

Services

NEFT Service -:
Reserve Bank of India has introduced a system called National Electronic Funds Transfer System (NEFT) through which fund transfer operation would take place among member Banks and financial institutions. Our bank is one of the participants in the above system.

RTGS Service -:
Reserve Bank of India has introduced a system called Real Time Gross Settlement(RTGS) is the continuous process of settling money or securities from one bank to another on a real time and on gross basis.

IMPS Service -:
Reserve Bank of India has introduced a system called Immediate Payment Service(IMPS) offer an instant,24*7 interbank electronic fund transfer service capable of processing person to person, person to account and person to merchant remittances. It is a multichannel and multidimensional platform that make the payments possible within fraction of seconds with all the standards and integrity maintained for security required for even high worth transactions.

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Service

TRANSFER YOUR FUNDS ANYWHERE IN INDIA IN MINUTES (Selected Banks and Branches) Minimum amount per transaction Rs. Two Lacks There is no upper ceiling of RTGS transactions.

  • The beneficiary bank credits the beneficiary’s account within two hour of receiving the funds message.
  • What you need to Submit (Remitting customer)
  • Amount to be remitted.
  • His/her account number which is to be debited.
  • Name of the beneficiary bank.
  • Name of the beneficiary customer.
  • IFSC of receiving branch.
  • Account number of the beneficiary customer.

Timings :-

  • 10:00 am to 03:30 P.M. (Monday to Friday) 
    10:00 am to 12:30 PM (Saturday)

The objectives of the NEFT System are:

To establish an Electronic Funds Transfer System to facilitate an efficient, Secure, economical, reliable and expeditious system of funds transfer and Clearing in the banking sector throughout India, and To relieve the stress on the existing paper based funds transfer and clearing system.

 

1) Credit to Beneficiary’s Account on the same day/next day if remittance done late in the evening.
2) Safest and Secure Mode of Fund Transfer.
3) No charges for inward Remittance
4) Money can be put to use by beneficiary on the same day or next day.

 

Eligibility

  • Customers of The Mehsana Nagrik Sahakari  Bank can send/ receive remittances under NEFT Scheme to/ from any destination Bank/ Branch which is registered with RBI’s NEFT System.
  • Presently more than 60,000 Branches of 91 member banks spread across the country participate in NEFT.

Amount of Remittance:

  • There is no ceiling of minimum and maximum amount of remittance/ transaction.

Credit to Beneficiary’s Account:

  • Credit to the Beneficiary Account will be given by Beneficiary’s Bank’s Branch on the same day [chargable same day] and in case of holiday/ after business hours, credit will be given on next business date.

Working of the Scheme:

  • Collect NEFT slip book from the Branch.
    Mention beneficiary Bank and Branch name with IFSC code (Indian Financial System Code) and beneficiary’s Name, Account Type, Account Number and Amount to be remitted.
    Message will be sent in electronic form in a highly secured manner through NEFT System to Beneficiary Bank’s Branch.
  • Timings :- 
    10:00 am to 03:30 P.M. (Monday to Friday) 
    10:00 am to 12:30 PM (Saturday)

Do you have any questions ? Feel free to contact us !