Fast, Secure & Convenient Fund Transfers
The Palghat Co-Operative Urban Bank Ltd. offers NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) facilities, enabling customers to transfer funds safely and efficiently to bank accounts across India. These services are regulated by the Reserve Bank of India (RBI) and provide a reliable electronic payment mechanism for both personal and business transactions.
NEFT (National Electronic Funds Transfer)
NEFT is an electronic funds transfer system that allows customers to send money from their account to any NEFT-enabled bank branch in India.
Features
⇒ Safe and secure fund transfer facility.
⇒ Available for transferring funds to accounts in participating banks across India.
⇒ No minimum transaction amount.
⇒ Suitable for both personal and business payments.
⇒ Funds are generally credited within a few hours, subject to RBI settlement cycles.
Information Required
To initiate an NEFT transaction, customers must provide:
⇒ Beneficiary Name
⇒ Beneficiary Account Number
⇒ Beneficiary Bank Name
⇒ Branch Name
⇒ IFSC Code of Beneficiary Branch
⇒ Amount to be Remitted
RTGS (Real Time Gross Settlement)
RTGS is designed for high-value transactions where funds are transferred individually and settled in real time.
Features
⇒ Instant processing and settlement of transactions.
⇒ Ideal for large-value fund transfers.
⇒ Minimum transaction amount: ₹2,00,000.
⇒ No upper limit prescribed by RBI.
⇒ Safe, secure, and reliable payment mechanism.
Information Required
For RTGS remittances, customers need to provide:
⇒ Beneficiary Name
⇒ Beneficiary Account Number
⇒ Beneficiary Bank & Branch Name
⇒ IFSC Code
⇒ Amount to be Transferred
⇒ Remitter's Account Details
Benefits of NEFT & RTGS
⇒ Quick and hassle-free fund transfers.
⇒ Secure electronic payment system.
⇒ Nationwide reach across participating banks.
⇒ Convenient alternative to cheque payments.
⇒ Ideal for personal, business, educational, and commercial transactions.
Bank Details
The Palghat Co-Operative Urban Bank Ltd.
IFSC Code: UTIB0PKDU97
For further assistance regarding NEFT/RTGS transactions, customers may contact their nearest branch or visit the bank's official website.