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NEFT

NEFT

Transfer of money from one account to another. No Cheques, no Demand Drafts

We can send/transfer money from one account to another (Inter Bank Transfer) conveniently, using NEFT. (National Electronic Funds Transfer). From any bank anywhere in India, to any other branch in India.

Requirements

You should have a net banking account of any bank. The bank-branch where you are having account should be a core banking branch. And you should have a mobile phone.

How NEFT works

Log into your account, choose Fund Transfer and type the details like the receiver's name, his bank branch name, and the amount. Hit the Submit button and the amount is transferred from your account to the specifed account.

You Need to know

The receiver's bank branch's IFS Code, a 11-digit alpha numeric code.(Indian Financial Systems Code). IFS code of your bank-branch is printed on your cheques. For the receiver bank-branch's IFS code there is a pull-down menu (bank's name and locality)

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