NEFT / RTGS
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NEFT / RTGS :-
The National Electronic Funds Transfer (NEFT) is an electronic payment system that facilitates direct one-to-one payments across the
country. Using this facility, you can electronically transfer funds from any bank branch to any individual having an account with any other bank branch in the country that is a part of the NEFT scheme. You can also make NEFT transfers using digital modes of internet banking and mobile banking.
“Real Time” indicates that the processing of instructions happens at the time they are received rather than at some later time. “Gross
Settlement” indicates that the settlement of fund transfer instructions occurs individually (on an instruction-by instruction basis). Considering that the settlement of funds takes place in the books of the Reserve Bank of India, the payments made through RTGS are final and irrevocable.
Payyoli scb provide these service to the customers at free of cost