Internet Banking FAQ

Fund transfer

What does Funds Transfer mean?

  • Funds Transfer

Fund Transfer allows you to transfer funds from your own account to

  1. Your other accounts under your user ID
  2. To other beneficiaries (within IDFC Bank / outside IDFC Bank) also known as Third Party Funds Transfer.

Funds Transfer to other Bank can be of 3 types

  • IMPS, also known as IMmediate Payment Service is a real time service which allows customers to transfer Funds from their own account to another Bank account in an electronic manner. This transaction can be done 24 x 7. The beneficiary receives the fund transfers credit instantly.
  • NEFT, also known as National Electronic Funds Transfer allows Bank customers to transfer funds, pay Credit Card bills of other Bank in an electronic manner to other Bank. NEFT follows RBI working calendar.
  • RTGS, also known as Real Time Gross Settlement, is the fastest way to transfer funds in an electronic manner. Transactions are done and payments received in real time.

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