Like many other banks Axis Bank also facilitates allowingit’s customers to transfer a large amount of money from one account to another. This is done through RTGS and NEFT forms. Axis Bank RTGS form allows customers to send the sum of money that is larger than 2 lakhs in amount while NEFT is used for the transfer of funds less than 2 lakhs in amount.
RTGS: Real-Time Gross Settlement & NEFT: National Electronic Fund Transfer System is used by the bank systems for the secure transfer of funds through protected channels which are efficient and smooth running. It can be used for the transfer of funds across the country.
Before following the steps to fill the RTGS and NEFT forms you must collect all the details which are given below-
- Transfer Amount
- Beneficiary Account No.
- Beneficiary Bank Name
- Beneficiary Customer Name
- Beneficiary Bank Account Number
- IFSC code of Beneficiary Bank Branch
Now you need to follow below-given steps to fill the form correctly –
- There are two sections in RTGS and NEFT forms
- The left section is for the customers
- The right section is only for Bank use
- Information like the Sender Account Details, Beneficiary Account Details, Beneficiary Bank IFSC Code and the amount of money which the customer wants to transfer must be filled by the customer himself in the left section
- The right section of the form must filled by the employee of Axis bank. After a successful transaction, the Bank employee will fill the right section with the transaction id along with other details.