e-monies National Electronic Funds Transfer

With e-Monies National Electronic Funds Transfer you can transfer funds and make Credit card payments to any bank across India. With this service your transactions are easier, and, with fewer restrictions, they reach further than before.

What is e-Monies Electronic Funds Transfer?

A nation- wide funds transfer system, supporting the transfer of funds from any bank branch to any other bank branch, anywhere in India.

NEFT Timing at branches & NetBanking

What are the benefits of Electronic Funds Transfer?

E-Monies National Electronic Funds Transfer is:

  • Easier – no queues
  • Faster – no demand drafts, cheques or letters
  • Convenient - handle Credit card payments from home

Fees and Charges of Electronic Funds Transfer (NEFT) Service

NEFT transactions on NetBanking are charged as below:

  • Amounts up to Rs. 10,000 - Rs.2.5 (exclusive of taxes) per transaction
  • Amounts from Rs.10,001 to Rs.1 lakh - Rs. 5 (exclusive of taxes) per transaction
  • Amounts above Rs. 1 lakh up to Rs. 2 lakh - Rs. 15 (exclusive of taxes) per transaction
  • Amounts above Rs.2 lakh – Rs.25 (exclusive of taxes) per transaction

Note: Charges for NEFT transactions done through Net Banking are not applicable for Current Accounts: Apex / Max / Plus / Merchant Advantage Plus / Flexi / Trade / Merchant Advantage / Premium / Regular.

What are the transaction steps?

To use E-Monies National Electronic Funds Transfer you will need to begin by adding a beneficiary. Then you can go on to make a funds transfer or Credit card payment.

To add a beneficiary –

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).

You should have your beneficiary’s IFSC handy. You can get this from the beneficiary bank.

When the above is complete you can follow these steps:

Step 1 - Log into HDFC Bank NetBanking, using your Customer ID and Password

Step 2 – Go to Third Party Transfer

Step 3 - Click ‘Add a Beneficiary’, and then select Beneficiary Type – Transfer to other bank

Step 4 – Enter the beneficiary account or Credit card number

Step 5 – Select the IFSC, using the bank and branch name. Now you can add the beneficiary. Remember, this is a one-time process.

Step 6 – Click ‘Add’, then ‘Confirm’

Step 7 – Authenticate yourself at the secure access step, and wait for your confirmation message

Post activation of a beneficiary, you can transfer a maximum of Rs. 50,000/- to each beneficiary for first 2 days.

One thing to note – After completing the addition of the beneficiary it will take 12 hours for the details to be added to the list of beneficiaries.

To make your funds transfer/Credit card payment –

Step 1 – Go to Third Party Transfer, 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

Credit card payments

Credit card payments can be completed easily through HDFC Bank’s NEFT service under NetBanking.

There are a few points to note:

Important Instructions

The Funds transfer request made by 6 p.m. will be presented to RBI on the same day. The Funds transfer request made after 6 p.m. will be presented to RBI on the next working day.

On Saturdays, funds transfer request made by 12 pm. will be presented to RBI on the same day and funds transfer request made after 12 pm will be presented to RBI on the next working day.

Funds transfer request made on non- working days will also be presented to RBI on the next working day

The actual time taken to credit the account depends on the time taken by the Payee's Bank to process the payment

The money will reach the Payee's bank within the time stipulated by the Reserve Bank of India.

The maximum amount of funds that can be transferred per customer ID per day is Rs.10 lakhs.

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

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