Funds transfer – NEFT
We understand your need to move money between accounts, whether within IDFC Bank or to other banks. We bring you a range of funds transfer options to help you manage your money better.
NEFT – National Electronic Funds Transfer
With NEFT, you can transfer money to any Third Party (Beneficiary) holding an account with a bank other than IDFC Bank, if the beneficiary's bank participates in RBI’s National Electronic Funds Transfer program (RBI - NEFT). These funds transfers are executed using Reserve Bank of India's InterBank Transfer Scheme.
Please note: Your account will be debited immediately online. Requests received between 8AM to 6:30PM (except Sundays and Bank holidays), will be sent by IDFC Bank to RBI in the respective clearing cycles. The time taken to credit the Beneficiary's account will be dependent on the time taken by the Beneficiary's Bank to process the payment.
Channels for doing NEFT
Payments can only be made via internet Banking if you have single or unconditional signing authority on your account.