In order to ensure that each and every transaction is safe and secure, wired transactions have been loaded with various security features. To know more about them, let’s read about NEFT, RTGS and IMPS. National Electronic Funds Transfer (NEFT) National Electronic Funds Transfer is an electronic method that can help you transfer your funds in a secure and convenient way. The most important feature of this platform is that the funds are transferred in batches and not instantly. However, a daily transfer limit of Rs. 1 to 10 lakh has been set. Each and every transaction follows a timed schedule. Real Time Gross Settlement (RTGS) This is an acronym that represents Real Time Gross Settlement. This method is one of the quickest ways to transfer money as the money is transferred on a real-time basis. Once you send money, you can expect the recipient to receive it right away. At max, a delay of 30 minutes can be experienced. Also, RTGS is more convenient, since it does not lead to an inter-bank settlement issue. These transactions can not only be made to a recipient within India, but to anyone all over the world. Finally, there is no set limit for any transaction made via the home branch. However, if you want to know the code without creating an account, you can do so via the internet. There is an official website of IFSC code where you can know all about this code.
