Yes Bank RTGS Form 2023: The Real Time Gross Settlement (RTGS) system is primarily designed for processing large-value transactions. The minimum amount eligible for remittance through RTGS is Rs 2 lakh. Yes Bank offers an RTGS service that enables customers to transfer funds to any bank across India in real time. This service ensures that your transactions are not only more convenient but also less restricted, allowing your funds to reach their destination more efficiently. Yes Bank, with its RTGS capabilities, offers customers various means to utilize this service. To initiate an RTGS transaction, customers can complete the Yes Bank RTGS Form.
इस पोस्ट में क्या है ?
What is RTGS?
ICICI Real Time Gross Settlement (RTGS) is a nationwide payment system designed to facilitate one-to-one fund transfers. Through this scheme, individuals can electronically transfer funds from their bank branch to another individual’s account, even if it’s with a different bank branch participating in the program anywhere in the country.
How Customers Benefit from It
Customers can easily send money to accounts at different bank branches, and these funds are transferred instantly with minimal charges.
Yes Bank RTGS Form
Minimum and Maximum Transfer Amounts
- Minimum: Rs. 200000
- Maximum: No Limit
Yes Bank RTGS Charges
| Mode of Transaction | Charges |
|---|---|
| Online modes (i.e. internet banking, Mobile app) | 🌐 💻 📱 🚫 |
| Through branches | 🏦 💰 |
| ₹2 lakh up to ₹5 lakh: | ₹ 25 + taxes |
| ₹5 lakh + | ₹ 50 + taxes |
How to Send Payment via RTGS in Yes Bank
There are two methods to send payments through RTGS in Yes Bank:
RTGS via Bank Branch: If you prefer to make an RTGS transaction at a Yes Bank branch (offline mode), you should visit your nearest Yes Bank branch and request an RTGS form or slip. Fill in all the required details as per the RTGS form, and submit it to the cashier. The bank branch will then process your payment, and the funds will be transferred to the recipient within 2 working hours.
RTGS Via Internet Banking: You can also send money via RTGS using your Yes Bank Internet Banking service. To do this, log in to the Yes Bank website and add a new beneficiary. Once the beneficiary is added, you can make payments through RTGS. Online RTGS is available for all Yes Bank customers with full transaction rights.
To avail of the Yes Bank RTGS facility, you can download the application form or visit your nearest Yes Bank branch and submit the duly filled form. If you are already a Yes Bank Connect customer with “view rights” and wish to avail of full transaction rights, please resubmit your application form to your base branch.
Steps for Online RTGS via Yes Bank Retail NetBanking
- Log in to Yes Bank Retail NetBanking.
- On the left-hand side navigation bar, click on “Other Bank Transfer – RTGS” under the Funds Transfer section.
- Fill in all the required details such as transfer amount, destination account number, IFSC Code, beneficiary name, and payment details. Once these details are filled in correctly, a unique transaction confirmation number will be generated. This number should be quoted for any query related to this transaction.
RTGS Timings
- Monday to Friday: 8.00 AM to 4.20 PM. Bulk RTGS files should be uploaded before 3:50 PM for same-day processing.
- Saturday (except 2nd & 4th Saturdays): 8.00 AM to 4.20 PM. Bulk RTGS files should be uploaded before 3:50 PM.
- Sunday is a holiday.
When is the amount credited in the beneficiary account?
Yes Bank RTGS is operational 24×7, 365 days. Transactions confirmed will be immediately debited from the source account and processed. Transactions initiated before the cut-off time will be processed on the same day. Transactions initiated outside RTGS hours or on RTGS holidays will be processed on the next working day.
Cut-off time for remittance through Yes Bank RTGS
Under normal circumstances, beneficiary branches are expected to receive funds in real-time once transferred by the remitting bank. Beneficiary banks should credit the beneficiary’s account within 30 minutes of receiving the funds transfer message.
Timeframe for scheduling an RTGS transaction in advance
The time frame to schedule an RTGS transaction in advance is 3 working days. You can use this for transactions like Cash Management Transfer, Hedging, Interest, Loan, Securities, Supplier Payment, Tax Payment, Trade, Trade Settlement Payment, Value Added Tax Payment. If none of the above options applies, you can select “Cash Management Transfer” as the default option.
Difference between RTGS and NEFT
RTGS (Real Time Gross Settlement) and NEFT (National Electronic Funds Transfer) are both facilitated by RBI for online funds transfer between member banks. Effective November 15, 2010, as per RBI guidelines, RTGS is available only for transactions of Rs. 2,00,000 and above, while NEFT should be used for transactions below Rs. 2,00,000.
Benefits of Yes Bank RTGS
- Available to all Yes Bank Net banking users, both existing and new.
- Simple, convenient, quick, and secure method for transferring funds to beneficiaries in other banks.
- Faster, secure, and safe funds transfer.
- Accessible anytime, anywhere, providing convenience and time savings.
- Cost-effective compared to conventional remittance methods like DD/MT.
Yes Bank RTGS FAQ
RTGS stands for Real Time Gross Settlement. It is a system for transferring money from one bank to another on a real-time and gross basis.
Yes Bank RTGS is available to all Yes Bank Net banking users.
It offers a simple, convenient, and secure method for transferring funds to beneficiaries in other banks.
The funds transfer is faster, secure, and safe.
You can access it anytime and anywhere, saving you time and energy.
Yes Bank RTGS is cost-effective compared to conventional remittance methods like Demand Draft (DD) or Money Transfer (MT).
Yes Bank RTGS is available to all Yes Bank Net banking users, both existing and new.
You can use Yes Bank RTGS in two modes: through online Internet Banking or via a bank branch.
To make an RTGS transaction at a Yes Bank branch, visit your nearest branch and request an RTGS form or slip. Fill in the required details as per the RTGS form, and submit it to the cashier. The bank branch will then process your payment, and the funds will be transferred to the recipient within 2 working hours.
