Transfer Money Through RTGS in Bandhan Bank Limited Online?

How to Transfer Money Through RTGS in Bandhan Bank Limited Online?: All the banks in India are offering net banking facilities for ease of fund transfer using RTGS or NEFT. In this way, a fast transfer of the funds can be made to the beneficiary's account.

There are two types of facilities offered by all the banks to transfer your funds very fast from one account to another account. These facailities are known as Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT).

If the amount to be transferred is having a large value i.e. 2 lakhs and above, preferably RTGS is used, in which the funds are transferred as and when RTGS instruction is received as here the transactions are settled individually. It is preferred for high value transactions. You can transfer the funds through RTGS all days 24X7.

In NEFT, there is no minimum or maximum limit on funds that are to be transferred. It is preferred for lower to medium range transactions. NEFT is an electronic fund transfer system that operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches. In DNS, the settlement takes place with all transactions received till the particular cut-off time. This is the reason why, in NEFT, the funds do not get transferred immediately but takes few hours for their transfer.

Benefits of Transfer Funds Through RTGS or NEFT Online

1. You can transfer funds from home or work place using net-banking facility
2. Fast transfer of the funds
3. Access anytime, from anywhere
4. No queues to stand in or wait for
5. It is a safe & less time consuming way of fund transfer
6. You don't have to issue a cheque and send it to the beneficiary, which save your efforts
7. You receive an automatic confirmation of processing of your transaction through SMS and email from your bank as soon as the funds get remitted

Points to Remember for Transfer of Funds Through RTGS or NEFT Online

1. You need to add payee/ beneficiary in your account to whose account you want to transfer the funds
2. Originating and destination bank branches should be part of the RTGS/ NEFT network
3. If you are transferring the funds in any beneficiary's account for the very first time, you must initially transfer a small amount like Rs 100 and get its receipt confirmed by the beneficiary and then make the transfer of balance amount
4. Verify the amount entered twice before making RTGS/ NEFT
5. You will get a confirmation of transfer of funds from your bank through SMS or Email
6. If Bandhan Bank is providing the facility of net-banking, then only you will be able to transfer the funds online through RTGS/ NEFT

How to Add Beneficiary in your Account with Bandhan Bank ?

If you want to add payee/ beneficiary in your account with Bandhan Bank , you need to follow below mentioned step by step process to add payee/ beneficiary:

• Visit the official website of Bandhan Bank
• Log on to your account using your user name (customer ID) and password (IPIN)
• From "Payments & Transfers" tab, select "Manage Beneficiary" option
• Now you need to select Inter Bank or Intra Bank (where beneficiary's account is also in Bandhan Bank ) option Payee
• Choose "Add Payee" option
• Fill in Payee/ Beneficiary's details such as Name, Account Number, Bank Name and IFSC Code in the relevant columns
• Tick the "I Accept Terms & Conditions" check box given at the bottom of the page
• Click on "Confirm" or "Continue" button
• A One Time Password (OTP) will be sent on your registered mobile number as the second layer of security
• Enter the OTP to authenticate the registration of the beneficiary
• Then the beneficiary will be added
• The added beneficiary will be activated in a few minutes/ hours
• After the activation of the beneficiary, you can transfer funds to beneficiary's account

How to Transfer Money Through RTGS or NEFT Online from Bandhan Bank ?

In order to Transfer Money Through RTGS or NEFT in Bandhan Bank Online, you need to follow below mentioned step by step process to Transfer Money Through RTGS or NEFT Online:

1. Visit the official website of Bandhan Bank
2. Log on to your account using your user name (customer ID) and password (IPIN)
3. From "Payments & Transfers" tab, select "Fund Transfer" option
4. The new page will list out different options for funds transfer. Select Inter Bank (Transfer to other bank) or Intra Bank (Transfer Within the Bank) Payee through RTGS/ NEFT
5. Select the Transaction Type: RTGS or NEFT
6. Choose the beneficiary from the list of beneficiaries existing in your account, to whom you want to transfer the funds
7. Enter the Amount to be transferred
8. Write Transfer Description. Try to provide meaningful "Transfer Description" which will help you to keep a good track of your transaction
9. Tick the "I Accept Terms & Conditions" check box given at the bottom of the page
10. Click on "Confirm" or "Continue" button
11. Then the RTGS/ NEFT Fund Transfer will be initiated. It's recommended to print this page or take its screenshot for your future reference

Information Needed for RTGS Fund Transfer

You wil require following information for performing an RTGS fund transfer,

• Account number to be debited
• Beneficiary's bank and branch
• Name of the beneficiary
• Beneficiary's account number
• IFSC number of the receiving branch
• Amount to be transferred
• Remarks, if any

RTGS Money Transfer in Other Banks (Online)