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THE BUNDI URBAN CO.OP. BANK LTD.

  • Bank Time:-MON - SAT(10:00AM - 5:00PM)

    Cash Transection Time:-MON - SAT(10:00AM - 4:00PM)

    Sunday colsed

  • MAIL US

    ho@bundiucb.com

  • PHONE US

    0747-2444074

  • PHONE US

    9783564483

RTGS/NEFT SERVICE



What is RTGS?

Tranfer 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. Real time gross settlement is the continuous process of settling payments on an individual order basis without netting debits with credits across the books of a central bank (e.g. bundling transactions). Once completed, real time gross settlement payments are final and irrevocable.



What is NEFT?

National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Under this Scheme, individuals can electronically transfer funds from any bank branch to any individual having an account with any other bank branch in the country participating in the Scheme. NEFT is a facility enabling bank customers in India to transfer funds between any two NEFT-enabled bank accounts on a one-to-one basis. It is done via electronic messages.



Servise Requirements

Before you can initiate an effective RTGS transfer there are certain basic requirements that you need to meet. The customer will have to furnish the following information to the bank:

  • Remittance amount
  • Account details of the remitting customer for debiting the sum
  • Name of the beneficiary bank and branch
  • The IFSC Number of the receiving branch
  • Name of the beneficiary customer
  • Account number of the beneficiary customer
  • Sender to receiver information, if any


Benefits of RTGS Service

Getting to understand how to do RTGS funds transfer is helpful in the long run as everyone prefers instant money transfers, especially for big payments. In fact the RTGS service has several benefits. Some of them are as under:

  • Saves time. Previously payments of a huge amount were made via demand draft, which could only be cleared in a period of three days. Now the same can be done within no time through RTGS
  • Saves paper. Without any need for physical documentation, transfers of huge sums can be made instantaneously.
  • There is no threat of money being stolen or cheques being forged, since all the process is done online. Huge sums of money can be transferred easily, making it easier for companies to run their business smoothly.
  • This is in turn also ensures a better supplier- buyer relationship, as a huge sum can be transferred in one go and without any delay.


Benefits of NEFT Service

Internet banking marked the beginning of a new era in the banking sector as it has revolutionised the way banks operate. With Internet banking and money transfer methods like NEFT, banks have given their customers the right to manage their funds in a simplified manner

  • Unlike the regular banking methods of fund transfer, NEFT transfer is really quick and you can enjoy rapid settlement of accounts, thereby improving the overall functionality of your business.
  • For a seamless movement of funds on the Internet, you could opt for NEFT as it helps you transfer any amount of money quickly.
  • NEFT, an integral aspect of Internet banking, is a highly dependable method of making payments and receiving funds online. Most of the banks in India are regulated under the norms set by RBI and, hence, the Internet banking facility too is quite safe in nature.
  • Internet banking and NEFT are flexible payment options which are very economical. For getting this facility, you don’t have to reimburse a huge sum of money to your bank. The processing charges are quite low and you can transfer any amount of money without any difficulty.