RTGS/NEFT Service  
  RTGS / NEFT SYSTEM SCHEME FOR DOMESTIC INTER-BANK / CUSTOMER FUNDS TRANSFER
  The Municipal Co-op. Bank is Direct Member of RTGS and NEFT and offers Services to its Customers for receiving and sending the remittances to any member Bank of RTGS across India.
  Benefits
 
  • Credit to Beneficiary's Account on the Same Day
  • Safest and Secure Mode of Fund Transfer
  • Lower Remittance Charges
  • No Courier/Postal expenses as in the case of Demand Draft etc.
  • Money can be put to use by beneficiary on the same day
  Through RTGS and NEFT Customers can receive remittances from their customers / associates maintaining accounts with other Banks or sent the remittances to other Bank account. i.e., instead of receiving payments by way of cheque / pay orders / demand drafts etc., can receive funds through RTGS and NEFT system by giving 15 Digit Customer Account number and IFSC Code of Branch.
 


AMOUNT OF REMITTANCE:

RTGS:

Minimum amount of remittance under Customer Transaction through RTGS is Rs. 2 Lakh and above.

NEFT:

Any amount whole in Rupees (without minimum / maximum limits) can be remitted.

CREDIT TO BENFICIARY’S ACCOUNT:

Credit to the Beneficiary Account will be given by Beneficiary’s Bank’s Branch on the same day and in case of holiday / after business hours, credit will be given on next business date.

WORKING OF THE RTGS/NEFT:

Submit the application form in a prescribed format Bank Branch.

Mention Beneficiary Bank and Branch Name with Indian Financial System Code (IFSC) and Beneficiary’s Name, Account Type, 15 Digit Account Number and Amount to be remitted. Message will be sent in electronic form in a highly secured manner through RTGS / NEFT System to Beneficiary Bank’s Branch.

Credit to the Beneficiary Account will be given by Beneficiary’s Bank’s Branch on the same day and in case of holiday / after business hours, credit will be given on next business date.



TIMINGS


RTGS For Customer Transaction

Day Time
Monday To Friday FROM 8:00 AM TO 8:00 PM
SATURDAY FROM 9:00 AM TO 3:30 PM

NEFT For Customer Transaction

Day Time
Monday To Friday 12 HOURLY BATCHES FROM 8:00 AM TO 7:00 PM
SATURDAY 6 HOURLY BATCHES FROM 8:00 AM TO 1:00 PM

For IFSC Codes of the Branches refer to Branch Locator

 
     

 

   
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