e-monies National Electronic Funds Transfer

NEFT transactions on NetBanking are charged as below:

Up to Rs 1 lakh - Rs. 5 (inclusive of taxes) per transaction
Above Rs 1 lakh to Rs 2 lac - Rs. 15 (inclusive of taxes) per transaction
Above Rs 2 lakh - Rs. 25 (inclusive of taxes) per transaction

Note: Charges for NEFTThis stands for National Electronic Funds Transfer (NEFT). It is a system that facilitates an individual or company to electronically transfer funds from any bank branch to any individual or company having an account with any other bank branch in the country. transactions done through Net Banking are not applicable for Current Accounts: Apex / Max / Plus / Merchant Advantage Plus / Flexi / Trade / Merchant Advantage / Premium / Regular.

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

One thing to note – After completing the addition of the beneficiary it will take 24 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 can be completed easily through HDFC Bank’s NEFTThis stands for National Electronic Funds Transfer (NEFT). It is a system that facilitates an individual or company to electronically transfer funds from any bank branch to any individual or company having an account with any other bank branch in the country. 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 NEFTThis stands for National Electronic Funds Transfer (NEFT). It is a system that facilitates an individual or company to electronically transfer funds from any bank branch to any individual or company having an account with any other bank branch in the country.
• The IFSC should be obtained from the Credit card issuing bank (without the correct IFSC, the transaction will be rejected)

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.

Have more questions, check our FAQs Section