Transferring money through NEFT (National Electronic Funds Transfer) Service Is...
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Features
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Fees & Charges
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Limits
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Timings
FAQs
The National Electronic Funds Transfer (NEFT) system is a nation-wide funds transfer system to facilitate transfer of funds from any bank branch to any other bank branch
For an NEFT remittance, the remitter has to furnish the following information:
- Amount to be remitted
- Remitting customer's account number which is to be debited
- Name of the beneficiary bank
- Name of the beneficiary
- Account number of the beneficiary
- Sender to receiver information, if any
- IFSC code of the destination bank branch
Credit card payments can be completed easily through HDFC Bank’s NEFT service under NetBanking.
There are a few points to note:
- You need to have the NetBanking and Third Party Funds Transfer facilities enabled (If you’re not yet registered, just visit your nearest HDFC Bank branch and fill the form).
- The Credit card issuing bank must be enabled to receive payments via NEFT
- The IFSC should be obtained from the Credit card issuing bank (without the correct IFSC, the transaction will be rejected)
Steps to make your Credit card payment –
Step 1 – Go to Fund Transfer tab, and click Transfer to other bank
Step 2 – Select account, beneficiary, and enter the relevant details
Step 3 – Accept the Terms and Conditions
Step 4 – Review the details, and, if all is correct, confirm to complete the process
The transaction will be settled to your beneficiary as per the RBI batch which ideally takes 30 mins to 4 hours.
Yes. If the beneficiary's bank is unable to credit the beneficiary's account for any reason, the former will return the money to the remitting bank within 2 business hours of completion of the batch in which the transaction was processed. Once the amount is received by the remitting bank, it is credited to the remitter's account by the branch concerned.
This is a service designed only for remitting Indian Rupees within India.
IFSC stands for ‘Indian Financial System Code’. It is an 11 digit, alpha numeric code designed to identify bank branches in India. The beneficiary customer can obtain the IFSC code from his bank branch. The IFSC code is also available on the cheque leaf. The list of IFSCs is also available on the RBI website (https://www.rbi.org.in/Scripts/IFSCMICRDetails.aspx).
No. NEFT services are enabled only in specific bank branches across the country. A list of such NEFT enabled branches can be obtained from the RBI website
http://www.rbi.org.in/scripts/neft.aspx for NEFT.
Please contact your bank/branch or the destination bank/branch or the Customer Facilitation Service Centre of the banks.
Contact Details of Customer Facilitation Centre of HDFC Bank for redressal of your NEFT related complaints
Contact details of Customer Facilitation Centre for other Banks
No. However, a facility is available to send outward remittances to Nepal under the Indo-Nepal Remittance Facility Scheme.
To know more : https://www.rbi.org.in/scripts/FAQView.aspx?Id=67
No. If the transaction has failed / timed out / declined due to technical reasons, Bank shall not bear any liability to compensate the same in the form of interest or actual amount sent to the Beneficiary.
Please click here to view the timings for NEFT transaction
Customer can use the NEFT facility to transfer funds from your HDFC Bank account to an account in another Bank at the locations as specified by RBI and to other bank accounts & Indian credit cards.
Please click here to view the limit for NEFT transaction
- Internet Banking – Send money to your chosen beneficiary from your desktop/laptop
- Mobile Banking - Send money through your HDFC Mobile Baking app
- Branch – Visit your nearest HDFC Bank Branch and fill the NEFT form to do an NEFT transaction
- Enet - Net banking facility for Corporates
Please click here to view all the fees and charges for the NEFT transaction
As of now, NEFT operates in half hourly batch settlements from 7 am to 7 pm on all working days. For transactions settled in the 6.30 and 7pm batches, the credit will be afforded on the next working day.
For NEFT you will need to begin by adding a beneficiary. Then you can go on to make a funds transfer or Credit card payment.
For online transaction, both the NetBanking and Third Party Funds Transfer facilities should be enabled. (If you’re not yet registered, just fill the form at your closest HDFC Bank branch).
Netbanking :
Steps to add beneficiary for NEFT-
Step 1 - Log into HDFC Bank NetBanking/MobileBanking, using your Customer ID and Password
Step 2 – Go to Funds Transfer tab
Step 3 - Click ‘Add a Beneficiary’, and then select Beneficiary Type – Transfer to other bank
Step 4 – Enter the beneficiary account details or Credit card number
Step 5 – Select the Beneficiary’s IFSC, using the bank and branch name
Step 6 – Click ‘Add’, then ‘Confirm’
Step 7 – Authenticate yourself at the secure access step, and wait for your confirmation message
Steps to make your NEFT funds transfer –
Step 1 – Go to Fund Transfer tab, and select 'Transfer to other bank(NEFT)'
Step 2 – Select account, beneficiary, and enter the relevant details
Step 3 – Accept the Terms and Conditions
Step 4 – Review the details, and, if all is correct, confirm to complete the process
Note:
- Post activation of a beneficiary, Rs 50,000 (in full or parts) can be transferred for the first 24 hours.
- A maximum of 4 beneficiaries can be added in a period of 24 hours.
Mobile Banking :
Log into HDFC Bank Mobile banking app
Go to Menu ( left hand side top )
Click - pay and select Money transfer option
Click Add new payee
Step 1: Select transfer type ( bank account or Credit card )
Step 2: Enter payee details ( HDFC AC or NON HDFC AC etc)
Step 3: Select the IFSC, using the bank and branch name.
Step 4: Re-check all the details and Click 'Add' and then 'Confirm'
Please ensure that you have entered the correct account details. HDFC Bank will not be able to validate the beneficiary details and the bank is not responsible for any debits made to the account number provided by you
Please note After completing the addition of the beneficiary it will take 30 minutes for the Beneficiary details to get enabled in your account.
To transfer funds: Go to > Menu ( left hand side top) >Pay> Money Transfer > View All payees> Select the beneficiary, fill in the required details and confirm.
Post activation of a beneficiary you can transfer amount up to Rs 50,000/- (in full or parts) for the first 24 hours.
Branch :
Customer can go to any of the HDFC Bank branch to effect transfer by providing cheque & duly filled NEFT form signed by appropriate signatories.
Terms and Conditions
- I/We am/are desirous of availing the Electronic Funds Transfer Facility through the RBI NEFT System. In consideration of the Bank agreeing to extend to me/us the said facility. I/ We hereby agree to and undertake the following terms and conditions which are in addition to the terms and conditions applicable to the Account including those related to NetBanking definitions: -
