In This Article We Know What Is NEFT?, HDFC Bank NEFT Form, HDFC NEFT Maximum Amount, HDFC Bank NEFT Charges, How To Do NEFT?, HDFC NEFT Time 2023 , HDFC NEFT Maximum Amount, HDFC Bank NEFT Form 2023: Utilize the e-Monies National Electronic Funds Transfer for seamless fund transfers and credit card payments to any bank across India. This service enhances the ease of your transactions, extending their reach with fewer limitations. Through National Electronic Funds Transfer (NEFT), you gain the capability to transfer funds and make credit card payments to any bank across India. This article offers comprehensive details on HDFC Bank NEFT, including the process of sending payments via HDFC Bank NEFT, associated charges, and the timing of HDFC Bank NEFT transactions. Explore more information about HDFC Bank NEFT below.
- 1 What Is NEFT?
- 1.1 Who is eligible for the HDFC Bank NEFT service?
- 1.2 How does it benefit the customers?
- 1.3 HDFC Bank NEFT Form
- 1.4 HDFC NEFT Maximum Amount Transfer
- 1.5 HDFC Bank NEFT Charges
- 1.6 How To Do NEFT?
- 1.7 1. NEFT via Online Internet Banking
- 1.8 Once the above is finished, you can proceed with the following steps:
- 1.9 2. NEFT via Bank Branch
- 1.10 What are the prerequisites for the customer for remittance?
- 1.11 When is the amount deposited into the beneficiary’s account?
- 1.12 HDFC NEFT Time 2023
- 1.13 Difference Between NEFT And RTGS
- 1.14 Benefits Of HDFC NEFT
- 1.15 Crucial Guidelines for HDFC Bank NEFT
- 1.16 Common Instructions for HDFC Bank NEFT
- 2 FAQ?: HDFC Bank NEFT
What Is NEFT?
NEFT has revolutionized online fund transfers, overcoming initial skepticism due to its sophisticated technology. The success of this scheme has led to increased adoption and positive word-of-mouth. Charges are applicable to NEFT transactions when the beneficiary holds an account with the same bank. However, when the remitter transfers funds to a beneficiary with an account in another bank, a set of charges is associated with the transaction.
Who is eligible for the HDFC Bank NEFT service?
Individuals, businesses, or corporations with accounts at a bank branch have the option to transfer funds through NEFT. Additionally, individuals without a bank account, known as walk-in customers, can deposit cash at NEFT-enabled branches with instructions for fund transfers via NEFT.
This service is available for customers with Savings/Current Accounts at the branch and for walk-in customers with transactions below Rs. 50,000.
How does it benefit the customers?
Customers have the capability to send funds to an account in another bank branch, with the transfer occurring instantly and incurring nominal charges.
HDFC Bank NEFT Form
Download form: Download now
HDFC NEFT Maximum Amount Transfer
HDFC NEFT Maximum Amount: Minimum: ₹1 , Maximum: ₹2,00,000
HDFC Bank NEFT Charges
|Mode of Transaction||HDFC Bank NEFT Charges|
|Online modes (i.e. internet banking, Mobile app)||No Charges|
|Through Bank branches|
|Upto Rs 1,00,000||Rs 2 + Applicable GST|
|Above Rs 1,00,000||Rs 10 + Applicable GST|
How To Do NEFT?
Payment through NEFT can be done through two methods:
- NEFT via Online Internet Banking
- NEFT via Bank Branch
1. NEFT via Online Internet Banking
You can utilize the HDFC Bank Internet Banking Service to send money through NEFT. To do so, log in to the HDFC Bank website, add a new beneficiary, and proceed to make the payment via NEFT. Online NEFT is accessible to all HDFC Bank customers with Internet Banking, granting them full transaction rights.
For those interested in availing the HDFC Bank NEFT Facility, you can download the application form or visit your HDFC Bank branch. Submit the completed form to your base branch. If you are already an HDFC Bank Connect customer with “view right” and wish to have full transaction rights, kindly resubmit your application form (available for download from the provided URL) to your base branch.
To utilize E-Monies National Electronic Funds Transfer, start by adding a beneficiary. Subsequently, proceed to initiate a funds transfer or credit card payment.
To include a recipient –
Both NetBanking and Third Party Funds Transfer services must be activated. If you haven’t registered yet, simply complete the form at your nearest HDFC Bank branch.
Ensure you have the IFSC code of your beneficiary, which can be obtained from the beneficiary’s bank.
Once the above is finished, you can proceed with the following steps:
- Step 1: Log into HDFC Bank NetBanking, using your Customer ID and Password
- Step 2: Navigate to the Fund Transfer tab.
- Step 3: Click ‘Add a Beneficiary’, then select Beneficiary Type – Transfer to other bank
- Step 4: Enter the beneficiary account or credit card number
- Step 5: Select the IFSC, using the bank and branch name. This is a one-time process.
- Step 6: Click ‘Add’, then ‘Confirm’
- Step 7: Authenticate yourself at the secure access step and wait for your confirmation message
The activation of the beneficiary will take 30 minutes for security reasons. You can view the beneficiary in the “View Beneficiary” option within the Enquire Section.
After a beneficiary is activated,
- Up to Rs. 50,000 (in full or parts) can be transferred within the first 24 hours.
- Up to Rs. 100,000 (in full or in parts) can be transferred within the first 48 hours.
- If an additional beneficiary receives no funds within 24 months, they are considered a new beneficiary in all aspects.
- A maximum of 7 beneficiaries can be added, modified, or deleted within a 24-hour period.
To initiate your funds transfer or credit card payment –
- Step 1: Navigate to the Fund Transfer tab and click on Transfer to other bank.
- Step 2: Select the account, beneficiary, and enter the relevant details.
- Step 3: Accept the Terms and Conditions.
- Step 4: Review the details, and if everything is correct, confirm to complete the process.
2. NEFT via Bank Branch
If you prefer to initiate NEFT through offline mode, that is, from a bank branch, visit your nearest HDFC Bank branch. Request an NEFT form or slip, fill in all the required details, and submit the completed form to the cashier. Your bank branch will then process the payment to the intended recipient within 2 working hours.
What are the prerequisites for the customer for remittance?
Provide the 11-character IFSC code of the bank branch where the remittance is intended. Furnish the beneficiary’s account number, name, and address. Visit the branch with these details to proceed.
When is the amount deposited into the beneficiary’s account?
- HDFC Bank NEFT operates 24×7, 365 days a year.
- Transactions, once confirmed, are immediately debited from the source account and taken up for processing. Transactions initiated before the cutoff time are processed on the same day.
- Transactions initiated outside NEFT hours and on NEFT holidays will be processed (for onward transfer to the beneficiary bank) only on the next working day. Ensure sufficient funds in your account for transaction processing. If retrying, check the status of your previous transaction.
- Note that once the amount is debited and processed by HDFC Bank, the credit into the beneficiary account depends entirely on the destination bank.
HDFC NEFT Time 2023
Open 24 hours every day, from Monday to Sunday.
HDFC NEFT Time 2023 As of December 16, the NEFT facility for online transactions is now available 24 hours a day, seven days a week. According to a statement from the Reserve Bank, NEFT transactions can now be conducted every day, including holidays. HDFC NEFT Time 2023 This allows you to transfer up to Rs 2 lakhs online at any given time.
Now you have the flexibility to perform NEFT transfers at any time.
Significance of Account Number
- When remitting funds, ensure that the account number of the intended beneficiary is correctly mentioned in the voucher.
- When requesting remittance from customers of other banks, it is mandatory to provide your 15-digit Finacle account number.
Difference Between NEFT And RTGS
- Both RTGS (Real Time Gross Settlement) and NEFT are facilitated by RBI for online funds transfer among member banks.
- Starting from November 15, 2010, in accordance with RBI guidelines, RTGS is applicable only for transactions of Rs. 2,00,000 and above.
- For transactions below Rs. 2,00,000, NEFT should be utilized.
Benefits Of HDFC NEFT
- HDFC Bank NEFT is Available to All:
- All our Net banking users, both existing and new, are eligible to utilize this online facility.
- HDFC Bank NEFT Facility is Simple, Convenient, Quick, and Secure:
- Users can transfer funds to beneficiaries in other banks in a simple, convenient, and seamless manner.
- Funds transfer to other banks is faster, secure, and safe.
- Customers Can Use HDFC Bank NEFT Anytime, Anywhere:
- Simple and easy to operate from home or office, anytime, anywhere.
- Save time and energy.
- Get More for Less:
- HDFC Bank NEFT costs less than conventional modes of remittance such as DD/MT.
Crucial Guidelines for HDFC Bank NEFT
- Funds transfer requests made by 6 p.m. are presented to RBI on the same day. Requests made after 6 p.m. are presented to RBI on the next working day.
- On Saturdays (excluding the second and fourth Saturdays), funds transfer requests made by 6 p.m. are presented to RBI on the same day. Requests made after 6 p.m. are presented to RBI on the next working day.
- Funds transfer requests made on non-working days will also be presented to RBI on the next working day.
- The actual time taken to credit the account depends on the time taken by the Payee’s Bank to process the payment.
- The money will reach the Payee’s bank within the time stipulated by the Reserve Bank of India.
Common Instructions for HDFC Bank NEFT
- The funds transfer option is available for all beneficiary bank branches participating in the NEFT scheme.
- Before executing the transfer, please verify that the beneficiary details are accurate.
- Take note of the transaction reference number for any clarifications or communications related to NEFT transactions. This reference number should be utilized to follow up with the destination bank for crediting into the recipient’s account.
- NEFT transactions are exclusively for transferring funds from HDFC Bank to other banks. For transferring funds to another HDFC Bank account, please utilize the Third Party Transfer option.
FAQ?: HDFC Bank NEFT
No, it is not possible to halt the payment once the transaction has been initiated.