With Inter funds transfer gaining quite a bit of momentum in India for past few years, it becomes important for us to know some tips & tricks to have money transferred from one Bank to another in the least possible time.
There are 2 types of funds transfers currently offered by RBI (Reserve Bank of India) - NEFT (National Electronic Funds Transfer) & RTGS (Real Time Gross Settlement). RTGS system is meant for amounts exceeding Rs.1,00,000.
I am currently referring to funds transfer using NEFT. In case of NEFT the transfer advices from Bank to RBI happens in 4 batches - 9:30 am, 1:30 am, 12:00 pm & 4:00 pm.
I would share a couple of tips which will enable to have the quickest funds transfer -
So try it with your own luck !!!
There are 2 types of funds transfers currently offered by RBI (Reserve Bank of India) - NEFT (National Electronic Funds Transfer) & RTGS (Real Time Gross Settlement). RTGS system is meant for amounts exceeding Rs.1,00,000.
I am currently referring to funds transfer using NEFT. In case of NEFT the transfer advices from Bank to RBI happens in 4 batches - 9:30 am, 1:30 am, 12:00 pm & 4:00 pm.
I would share a couple of tips which will enable to have the quickest funds transfer -
- Avoid transferring funds at the end of day (say around 3-4 pm) & on weekends (like Fridays).
- Transfer funds in the early hours. For eg, if you want to transfer funds from ICICI Bank to HDFC Bank, try initiating the transfer before the 1st batch timings i.e. 9:30 am. I have found out that all transfers which I have initiated before 9:30 am have resulted in credit of my funds in the destination Bank account at around 2:00 pm on the same day itself.
- Any transfer timings not following the above 2 rules will result in funds credit happening after 1 or 2 days.
So try it with your own luck !!!
1 comment:
Thanks a lot it worked:-)
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