HDFC Bank NEFT Form 2023: With the e-Monies National Electronic Funds Transfer (NEFT) service, you can seamlessly transfer funds and make credit card payments to any bank across India. This service simplifies your transactions, extending their reach with fewer limitations. With NEFT, you have the flexibility to transfer funds and pay your credit card dues to any bank in India. This article offers comprehensive information on HDFC Bank NEFT, including instructions on how to send payments via HDFC Bank NEFT, details on charges, and the timing of NEFT transactions. Read on for more insights into HDFC Bank NEFT.
इस पोस्ट में क्या है ?
- 1 What is NEFT?
- 1.1 Eligibility for HDFC Bank NEFT Service
- 1.2 How Customers Benefit
- 1.3 HDFC Bank NEFT Form
- 1.4 Minimum and Maximum Transfer Amounts
- 1.5 HDFC Bank NEFT Charges
- 1.6 How to Send Payment via HDFC Bank NEFT
- 1.7 To make your funds transfer or Credit card payment:
- 1.8 Timing of HDFC Bank NEFT
- 1.9 Differences between RTGS and NEFT
- 1.10 Benefits of HDFC Bank NEFT
- 1.11 HDFC Bank NEFT Form 2023 FAQ
What is NEFT?
NEFT has revolutionized online fund transfers, making it easier than ever. In the past, some individuals were hesitant to adopt this advanced technology, fearing complexity and confusion. However, the resounding success of the NEFT system has not only increased its popularity but also spurred word-of-mouth recommendations. NEFT transactions come with charges, particularly when the beneficiary holds an account with the same bank. In cases where the remitter transfers funds to a beneficiary from a different bank, a set of charges applies.
Eligibility for HDFC Bank NEFT Service
Individuals, firms, or corporations with accounts at a bank branch can utilize NEFT for fund transfers. Additionally, individuals without a bank account, commonly referred to as walk-in customers, can visit NEFT-enabled branches and deposit cash with instructions to transfer funds via NEFT.
The following are eligible for NEFT transactions:
- Customers with Savings or Current Accounts at the respective branch.
- Walk-in customers for transactions below Rs. 50,000.
How Customers Benefit
Customers can quickly transfer funds to accounts at other bank branches, and this service is available at minimal charges.
HDFC Bank NEFT Form
Minimum and Maximum Transfer Amounts
- Minimum: Rs.1
- Maximum: Rs 2 Lakh
HDFC Bank NEFT Charges
Mode of Transaction | 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 Send Payment via HDFC Bank NEFT
There are two ways to send payment via NEFT, and one of them is via Online Internet Banking, while the second option is NEFT via Bank Branch.
NEFT via Internet Banking: You can also send money via NEFT by using your HDFC Bank Internet Banking Service. To use Internet banking, you need to log in to the HDFC Bank website. After that, you’ll need to add a new beneficiary, allowing you to make payments through NEFT. Online NEFT is enabled for all HDFC Bank customers with Internet Banking access and full transaction rights.
If you’d like to avail of the HDFC Bank NEFT Facility, you can download the application form or visit your nearest HDFC Bank branch. Submit the duly filled form to your base branch. If you’re already an HDFC Bank Connect customer with “view right” and wish to avail of full transaction rights, you can resubmit your application form to your base branch.
To use E-Monies National Electronic Funds Transfer, you need to start by adding a beneficiary. Once added, you can proceed to make funds transfers or credit card payments.
To add a beneficiary:
- Ensure that both NetBanking and Third Party Funds Transfer facilities are enabled. If you’re not registered yet, you can fill out the form at your closest HDFC Bank branch.
- Have your beneficiary’s IFSC code at hand, which you can obtain from the beneficiary bank.
With these prerequisites met, follow these steps:
- Log into HDFC Bank NetBanking using your Customer ID and Password.
- Go to the Fund Transfer tab.
- Click ‘Add a Beneficiary’ and select Beneficiary Type as ‘Transfer to other bank’.
- Enter the beneficiary’s account or Credit card number.
- Select the IFSC by using the bank and branch name and add the beneficiary. This is a one-time process.
- Click ‘Add’ and then ‘Confirm’.
- Authenticate yourself during the secure access step, and wait for your confirmation message.
The beneficiary will be activated within 30 minutes for security reasons and can be viewed in the “View Beneficiary” option in the Enquire Section.
Once the beneficiary is activated:
- You can transfer up to Rs. 50,000 in full or in parts during the first 24 hours.
- You can transfer up to Rs. 100,000 in full or in parts during the first 48 hours.
An added beneficiary with no funds transferred for over 24 months is considered a new beneficiary in all respects. You can add, modify, or delete a maximum of 7 beneficiaries within a 24-hour period. HDFC Bank NEFT Transfer
To make your funds transfer or Credit card payment:
- Go to the Fund Transfer tab and click ‘Transfer to other bank’.
- Select your account, beneficiary, and enter the relevant details.
- Accept the Terms and Conditions.
- Review the details, and if they are correct, confirm to complete the process.
HDFC Bank NEFT is open 24×7, 365 days. Transactions are immediately debited from the source account and processed on the same day if initiated before the cutoff time. Transactions initiated outside NEFT hours and on NEFT holidays are processed on the next working day. Please ensure sufficient funds in your account for processing the transaction. Once the amount is debited and processed by HDFC Bank, the credit into the beneficiary account depends on the destination bank.
Timing of HDFC Bank NEFT
- Available 24 hours every day.
- NEFT is available for 24 hours from December 16, allowing you to transfer up to Rs. 2 lakhs online at any time.
Importance of Account Number
For remittance:
- Mention the correct Account Number of the beneficiary in the voucher.
- When seeking remittance from other bank customers, it’s mandatory to quote your 15-digit Finacle Account Number.
Differences between RTGS and NEFT
RTGS (Real Time Gross Settlement) & NEFT are both facilitated by RBI for online funds transfer between various member banks. As per RBI guidelines effective November 15, 2010, RTGS is available only for transactions of Rs. 2,00,000 and above, while for any transaction below Rs. 2,00,000, NEFT should be used.
Benefits of HDFC Bank NEFT
- Available for all HDFC Bank Net banking users.
- Simple, convenient, quick, and secure for transferring funds to beneficiaries in other banks.
- Can be used anytime, anywhere from home or office, saving time and energy.
- Cost-effective: HDFC Bank NEFT costs less than conventional modes of remittance such as DD/MT.
Can I Stop a NEFT Payment Once Initiated?
No, once the transaction is initiated, the payment cannot be stopped.
Important Instructions for HDFC Bank NEFT
- Funds transfer requests made by 6 p.m. will be presented to RBI on the same day. Requests made after 6 p.m. will be presented to RBI on the next working day.
- On Saturdays (excluding the second and fourth Saturday), requests made by 6 p.m. will be presented to RBI on the same day. Requests made after 6 p.m. will be
HDFC Bank NEFT Form 2023 FAQ
HDFC Bank NEFT (National Electronic Funds Transfer) is an electronic payment system that enables HDFC Bank customers to transfer funds securely to accounts in other banks across India.
HDFC Bank NEFT offers a simple, convenient, quick, and cost-effective way to transfer funds to beneficiaries in other banks. You can use it anytime, anywhere, and save time and energy.
You can initiate an HDFC Bank NEFT transaction through Online Internet Banking or by visiting an HDFC Bank branch. For online transactions, you’ll need to log in to the HDFC Bank website and add a beneficiary. For branch transactions, you need to fill out an NEFT form and submit it to the bank.
Yes, HDFC Bank NEFT is available 24 hours a day, 365 days a year. You can make transactions at any time, including holidays.
There are no maximum or minimum limits for HDFC Bank NEFT transactions. You can transfer any amount that suits your requirements.