South Indian Bank issues RTGS and NEFT forms so that it’s customers can transfer their funds across the nation. South Indian Bank RTGS forms are used to transfer money that is more than 2 lakhs in amount while South Indian Bank NEFT forms are used to transfer money that is less than 2 lakhs in amount.
RTGS: Real-Time Gross Settlement & NEFT: National Electronic Fund Transfer System is used by bank systems so that customers can send their money through secure and efficient channels and they need not worry.
Before following the steps to fill RTGS and NEFT forms you should arrange all this information which is 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 thoroughly to fill the form correctly –
- There are two sections in the RTGS and NEFT forms
- The left section must be used by the customers only
- The right section is for the use of bank
- Informations like the Sender Account Details, Beneficiary Account Details, Beneficiary Bank IFSC Code and the amount which the customer wants to transfer must be filled by the customer in the left section
- The right section of the form will be filled by the employee of the South Indian bank. On successful transaction, the employee will fill the right section with transaction id and other details.