How to tranfer money online?

Many of you may not know how to transfer money online.So,here i will discuss about the way's you can transfer your money online.

1.NEFT

NEFT stands for National Electronic Funds Transfer.It is started in November 2005 in India.Through this, anyone can transfer funds from their bank account to another bank account.So,to transfer funds you need to add beneficiary of the account holder you want to transfer fund in your net banking system.

The beneficiary contains the bank details of the account holder i.e. his bank account number and IFSC code of the branch

In NEFT you can transfer funds ranging from Rs.1 to Rs.25L.The timing to perform NEFT is from 7 A.M. to 7 P.M. on any working day.It takes almost 3 hours to complete transactions.Charges for NEFT is ranging from Rs.5 to Rs.25 + Service Tax.

2.RTGS

Full form of RTGS is Real Time Gross Settlement.It is a continuous real time process of fund settlement either individually or order by order.In simple words,money is transfered without any longer waiting.It can be done both online and offline.

In RTGS you can transfer fund from Rs. 2L to any number of amount.The timing to perform RTGS is from 9 A.M. to 4.30 P.M. on any working day except for Saturday.For Saturday timing is from 9 A.M. to 2 P.M. Charges for RTGS ranges from Rs.30 to Rs.55 + Service Tax depending on the amount you transfer.

3.IMPS

IMPS stands for Immediate Payment Service.It is real time banking payment system that transfer money from one account to another account in no time means it is a very fast payment transfer system.

You can transfer funds through IMPS either by filling bank details or by MMID and Mobile Number.

Charges are same as that of NEFT.By IMPS you can transfer funds only upto Rs.1L.IMPS does not have any time limit.

4.UPI

UPI is Unified Payment System which can transfer fund from your account to the another account in any period of time from any UPI enabled App.It is started by NPCI (National Payment Corporation of India) which looks after all the transactions made through ATM.

Using UPI you can make 10 transaction per day with a minimal fees of 50 paise per transfer.This service is available 24*7.UPI enables you to transfer funds from your mobile number,account number and by UPI add from any UPI enabled App.

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