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Online Services, Visit the branch of the bank in which there is an account…
Online Services
RTGS
Meaning
The term real-time gross settlement (RTGS) refers to a funds transfer system that allows for the instantaneous transfer of money and/or securities. RTGS is the continuous process of settling payments on an individual order basis without netting debits with credits across the books of a central bank.
Features
Realtime online fund transfer, thus no waiting period.
Used for high value transactions. minimum amount in a RTGS transaction is 2 lakh rupees. no upper limit.
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NEFT
Meaning
1)NEFT (National Electronic Funds Transfer) is an electronic payment system with which you can do one to one payments.
2)Using this facility, you can electronically transfer funds from any bank branch to any individual having an account with any other bank branch in the country that is a part of the NEFT scheme.
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Features
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If no bank account 49,999 is the maximum amount
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Procedure
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Data Entry at Sending Bank Branch
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The message reaches its destination, payment is made to beneficiary.
IMPS
Meaning
-Immediate Payment Service is an instant money transfer service which allows people to send and receive funds in real time.
-It facilitates inter-bank transactions through mobile and net banking.
-it is facilitated by National Payment Corporation of India.
Features
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3)**it can be used for various things such as online shopping, net banking and etc.
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1) it is very flexible, can be used anytime.
Procedures
Register yourself with the mobile banking service of the bank.
Get Mobile Money Identifier (MMID) and MPIN from the bank
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Enter Beneficiary Mobile number, beneficiary MMID, Amount and your MPIN to send
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