What is HDFC e-Monies National Electronic Funds Transfer/ NEFT?

HDFC e-Monies National Electronic Funds Transfer (NEFT):  NEFT is an easy way to transfer money, make credit card payment or to complete any kinds of payment transactions with fewer restrictions. It is a system to transfer money or funds electronically. So, under NEFT (National Electronic Funds Transfer) you have about 63000 bank branches across the country in which you can transfer funds to the other bank accounts easily, safely and in a fastest way. It is really simple, secure and cost effective way to transfer your money especially for Retail remittances. If you want to transfer your money or want to do any kind of transactions a nation-wide anywhere in India from any bank branch to any other bank branch then HDFC e-Monies National Electronic Funds Transfer (NEFT) facilities is best way to do this.

What is HDFC e-Monies National Electronic Funds Transfer/ NEFT?

Features & Benefits of HDFC e-Monies National Electronic Funds Transfer (NEFT)

If you want to send money using NEFT then you will have to furnish the following particulars:

  • You will need to add a beneficiary first for NEFT.
  • Indian Financial System Code (IFSC) of the beneficiary Bank or Branch is also mandatory.
  • You will need full account number of the beneficiary for NEFT.
  • You should know name of the beneficiary.
  • NEFT service is also available through online mode if you have internet banking or mobile banking.
  • Bulk upload facility is also available at bank or branches for corporate customers.

How to transfer funds or make Credit card payments

  • Visit to the Fund Transfer tab on the HDFC site and click Transfer to other bank.

What is HDFC e-Monies National Electronic Funds Transfer/ NEFT?

  • Select account and beneficiary and enter the required details.
  • Then to complete transaction you will have to accept the Terms and Conditions.
  • Check all the details again and confirm to complete the process.

 

NetBanking Transactions – NEFT charges

 

·       Amounts up to Rs. 10,000 – Rs.2.5 per transaction (exclusive of taxes)
·       Amounts from Rs.10,001 to Rs.1 lakh – Rs. 5 per transaction (exclusive of taxes)
·       Amounts above Rs. 1 lakh up to Rs. 2 lakh – Rs. 15 per transaction (exclusive of taxes)
·       Amounts above Rs.2 lakh – Rs.25 per transaction (exclusive of taxes)

Timings

If you want to transfer money through NEFT then it requires a transferring bank and a destination bank. You can do NEFT transactions at any time even on holidays except for Sundays because of bank holidays. The Reserve Bank of India decided specific time slots for NEFT across the country. There are different batches that have 12 settlement batches with time slot of 8am to 7 pm on weekdays and with 6 settlement batches from 8 am to 1pm on Saturdays.

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