IDBI RTGS Form: IDBI customers who are willing to use a smart method to transfer funds from one account to another can use the RTGS method. But for that, they are first required to fill the RTGS form.
RTGS is an electronic fund transfer system that helps in transferring funds from one account to another within minutes. Any customer who is using IDBI Bank Services can also use this service and transfer their funds in the most secure and efficient way. However, for this, they are required to fill the IDBI RTGS form.
RTGS works for a bigger amount of transactions.
The minimum amount of transaction required to use the RTGS method is 2 Lakh INR. To use the method and become eligible to transfer funds through the RTGS method in IDBI Bank, one has to fill the form.
If you are not satisfied with the services of RTGS in IDBI Bank or you are facing a situation where the money has been debited by your bank but is still not credited, you are required to contact their customer care or the branch. You also can write your concern and email the team.
For this, you can download the IDBI RTGS form PDF from the banking support. Apart from this method, one can also get the RTGS NEFT form from their IDBI Bank Branch.
Since all these fund settlements will be noted in the books of the Reserve Bank of India, you need to know that once you pay the amount to another account, it can not be reversed in your account. Hence, it is essential to be careful while filling in the details in the form.
IDBI RTGS Form / NEFT Form 2021 PDF Download
How to fill the IDBI RTGS Form?
The form of RTGS will have two different parts available. In the first part, you are required to fill in all the required details. You must fill it properly and submit it to the bank while the other part is for the manager. Here is the given essential information you must provide in your RTGS NEFT form.
- First, you have to fill in the beneficiary name, account number, and address.
2. Now enter the beneficiary Bank Account type, Beneficiary Bank, IFSC code, and the amount you have to transfer.
3. You are required to provide your details in the form. There, you need to fill in your name, PAN number, phone number, address, and purpose of remittance.
4. You need to fill in the required details and sign your RTGS form.
5. Now submit it to the bank.
The second part of your IDBI RTGS form will be the acknowledgment for your RTGS transfer. And it will not be filled by you. The bank will offer you the acknowledgment slip so you can raise a complaint if in case the funds are not credited to your beneficiary account.
The timings of IDBI RTGS will be 9 am to 4.15 pm on weekdays. And on Saturdays, the time will be from 9 am to 1 pm. It is crucial to follow the timing as after these timings; no funds can be transferred via the RTGS system.
What are the benefits of using RTGS Facilities?
There are many benefits of using this RTGS facility. It is a premium facility available for all users. Anyone having a bank account in IDBI bank can avail of these facilities by filling a simple form. Below mentioned are some of the features of it.
- RTGS is a secured method for transferring funds- Which means that you do not need to worry about getting your funds lost or stolen. The method is very secured and unless you don’t put the wrong details of your beneficiary, your money will be safe.
- The service is available all-day- There are no time restrictions in using these services. However, you have to follow the guidelines made by the bank but it is surely more flexible than your bank hours.
- There is no need to wait for the transfer of funds as it is done in real-time- Once you transfer the money, it will reach the beneficiary account within a minute or two. It will not take much time for this to process.
- Absolutely no requirement of demand draft or cheque in RTGS method- In the RTGS method, there is no need of having a demand draft or anything else for making the payment. It is a whole online method where you do not need to use any physical cheque.
- The form can also be downloaded online- The form for start using the RTGS facility can be downloaded online. There is no need to go to the bank and collect a form.
How is RTGS different from NEFT?
NEFT is also an electronic fund transfer system where the transactions can be processed but in batches. However, in RTGS, the transactions will be processed on a continuous basis during working hours. For any fund transfer between the two banks, both the banks should be RTGS enabled. As of now, there are around 140000 RTGS enabled banks available in India. The list can be availed on the official website of RBI.
This article was all about how RTGS can help you in transferring funds from one account to another if you are using IDBI bank. You can download the form from the official website of the bank, and to know how to fill the form, we have included all the details here itself.
You can go through the details we have shared above and start using the IDBI RTGS services without facing any difficulties.
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