HDFC Bank RTGS: Limits, Charges, Form, and Timings

HDFC Bank RTGS 2023: The RTGS system is primarily meant for large-value transactions. The minimum amount to be remitted through HDFC Bank RTGS is Rs 2 lakh. The maximum limit is Rs 10 lakh per day. RTGS (Real Time Gross Settlement) is the fastest possible money transfer system through the banking channel. Because settlements are made in real-time, transactions are not subject to any waiting periods. Now check out more details for HDFC Bank RTGS from below…In addition, you can easily access the HDFC Bank RTGS form to initiate your transactions smoothly. Be sure to check the applicable HDFC Bank RTGS charges and adhere to the specified HDFC Bank RTGS timings for a hassle-free experience.

What is RTGS?

Real Time Gross Settlement (RTG.) is a nation-wide payment system enabling one-to-one funds transfer. This scheme allows individuals to electronically transfer funds from any bank branch to any individual with an account in another participating bank branch across the country.

Benefits of HDFC RTGS Funds Transfer

• Speedy real-time transfers
• Geographical boundaries are no barrier within India
• Convenient fund transfers from the comfort of your home or office

HDFC Bank RTGS Charges

• Online modes (i.e., internet banking, mobile app) – No charges
• Through branches:
  • ₹2 lakh up to ₹5 lakh: ₹25 + taxes
  • ₹5 lakh and above: ₹50 + taxes

RTGS Transaction Timings

• Online Transaction Timings: Available 24 Hours
• Transaction through Branches: As per Branch working Hours

The RTGS Funds Transfer Process

You can use two methods to initiate an RTG. funds transfer: through online internet banking and via a bank branch.

RTG. via Bank Branch:

1. Visit your nearest HDFC Bank Branch.
2. Request an hdfc bank rtgs form or Slip.
3. Submit the hdfc bank rtgs form to the cashier for processing, and the bank branch will transfer the funds in real-time.
4. Complete the required details in the RTGS Form.

RTGS Via Internet Banking

For online transactions, you must have NetBanking and Third Party Funds Transfer facilities enabled. If you’re not yet registered, you can fill out the necessary forms at your nearest HDFC Bank branch.

Steps for Adding a Beneficiary for RTGS

1. Log into hdfc bank rtgs timings NetBanking using your Customer ID and Password.
2. Navigate to the Funds Transfer tab.
3. Select ‘Add a Beneficiary’ and choose Beneficiary Type ‘Transfer to other bank.’
4. Enter the beneficiary’s account details.
5. Select the Beneficiary’s IFSC using the bank and branch name.
6. Click ‘Add’ and then ‘Confirm.’
7. Authenticate yourself at the secure access step and wait for your confirmation message.

Steps to Make Your RTGS Funds Transfer

1. Go to the Funds Transfer tab and select ‘Transfer to other bank (RTG.).’
2. Choose your account, beneficiary, and enter the relevant details.
3. Accept the Terms and Conditions.
4. Review the details and, if everything is correct, confirm to complete the process.

Please Note:

• The beneficiary will be activated within 30 minutes for security reasons.
• RTG. transactions for an activated beneficiary are possible only after 24 hours.
• An added beneficiary, with no funds transferred for over 24 months, is treated as a new beneficiary.
• A maximum of 7 beneficiaries can be added/modified/deleted within 24 hours.

RTGS Funds Transfer Requirements

• Amount to be remitted
• Remitting customer’s account number
• Name of the beneficiary bank and branch
• Name of the beneficiary customer
• Account number of the beneficiary customer
• Sender to receiver information (if any)
• The IFSC number of the receiving branch

When Does the Beneficiary Receive Credit for an RTGS Transaction?

Beneficiary branches typically receive funds in real-time once they are transferred by the remitting bank. The beneficiary bank is expected to credit the beneficiary’s account within 30 minutes of receiving the funds transfer message. hdfc bank rtgs timings

Is the Remitter Refunded if an RTGS Transaction is Not Credited to the Beneficiary Account?

Yes, if the beneficiary’s bank is unable to credit the beneficiary’s account for any reason, the money will be returned to the remitting bank within 1 hour. The remitting bank will then credit the amount to the remitter’s account.

Distinguishing RTGS from NEFT

Both RTG. (Real Time Gross Settlement) and NEFT (National Electronic Funds Transfer) are facilitated by the Reserve Bank of India for online funds transfer between various member banks. As per RBI guidelines, RTG. is available only for transactions of Rs. 2,00,000 and above, effective from 15th November 2010. For transactions below Rs. 2,00,000, NEFT should be used.

Benefits of HDFC Bank RTGS

HDFC Bank RTG. is available to all Net banking users, existing and new, offering a simple, convenient, quick, and secure way to transfer funds to beneficiaries in other banks. It’s available anytime, anywhere, allowing you to save time and energy. Additionally,hdfc bank rtgs charges is cost-effective compared to conventional remittance methods like Demand Draft (DD) and Money Transfer (MT).

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