RTGS
What is RTGS?
Real Time Gross Settlement (RTGS) is an electronic form of funds transfer where
the transmission takes place on a real-time basis. The RTGS system is primarily
meant for large value transactions.
The minimum amount to be remitted through RTGS is Rs. 2 lakh and there is no
upper limit on the maximum transaction amount. RTGS transactions can be made
from 10:00 AM to 3:30 PM on all working days.
The bank branches, both at the initiating and receiving end, have to be
RTGS-enabled for the transaction to be processed. Customers of
The Ode Urban Co-Op Bank Ltd. having Internet Banking facilities
can also perform RTGS transactions on their own.
NEFT
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 another individual having an account with any other bank branch in the country participating in the Scheme.
There is no limit on the amount of funds that could be transferred using NEFT. However, maximum amount per transaction is limited to Rs. 2,00,000.
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. Customers of The Ode Urban Co-Op Bank Ltd. can avail this facility through branch or Internet Banking.
What you need to submit? (Service Requirement)
- 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.