HDFC bank offers National Electronics Funds Transfer (NEFT) services to all customers. HDFC bank comes with a unique ‘e-Monies’ scheme that enables NEFT transactions and credit card payments at a much faster pace without any hassles. HDFC bank NEFT services are known to be very user-friendly, convenient and speedy.
Process to Transfer Funds through NEFT from HDFC to any Bank
Step1: Login to the HDFC internet banking portal and sign in with the respective username and password. The first step is to make sure the beneficiary is added.
Step 2: Choose the ‘Fund Transfer’ option
Step 3: Choose the ‘Add Beneficiary’ option and also key in the type of beneficiary
Step 4: Choose the ‘Transfer to other bank’ option
Step 5: Key in the details of the payee (the person whom the money is being sent to) such as name, account number, IFSC code, bank name, branch name.
Step 6: Finalize the beneficiary and click on ‘Confirm’
Step 7: The customer will receive a confirmation message
How to Add HDFC Beneficiary Guidelines
Please note that if a beneficiary is being added for the first time, it will take a minimum of 30 minutes for the bank to add the beneficiary. Listed below are some of the rules and guidelines relating to the addition of beneficiaries:
So, the customer will have to wait for a said period of time in order to initiate a NEFT transfer. Once the beneficiary has been activated, the account holder can initiate a transfer of Rs.50,000 only within the first 24 hours.
In the next 48 hours, the account holder can make a NEFT transfer with an upper cap of Rs.1 lakh.
Please note that even if a beneficiary has been added earlier and no fund transfer has been made for a period of up to 2 years, the beneficiary has to be added again to initiate a NEFT transfer.
The upper limit on the number of beneficiaries that can be added within a 24-hour window is 7
How to Pay Credit Card Bill through HDFC NEFT
Step1: Login to the HDFC internet banking portal and sign in with username and password
Step 2: Click on the ‘Fund Transfer’ tab and choose the ‘Transfer to other bank’ option
Step 3: key in the credit card number in place of the account number, add the beneficiary and other details
Step 4: Agree to all the terms and conditions
Step 5: Click ‘Confirm’ to complete the process
Please note that while paying credit card bills through NEFT, it is always advisable to keep a few pointers in mind. The payment to credit card can be processed by using the HDFC bank NEFT facility. In order to access this service, the customer has to make sure net banking and third-party fund transfer facilities are activated. The bank that has issued the respective credit card should be NEFT-enabled in order to receive the funds via his type fund transfer mechanism. It is also a must to know the IFSC code of the bank that has issued the credit card.
Details Required to Carry Out a NEFT Transaction
- The 16-digit beneficiary account number
- Payee name
- IFSC code
Fees and Charges for HDFC Bank NEFT
|Transaction amount||Transaction fee|
|Up to Rs.10,000||Rs.2.5|
|From Rs.10,001 to Rs.1 lakh||Rs.5|
|Above Rs.1 lakh to Rs.2 lakh||Rs.15|
|Above Rs.2 lakh to Rs.25 lakh||Rs.25|
*Please note that GST charges may be levied for all HDFC bank NEFT transactions. Also, please keep in mind that the above rates are for each transaction carried out.
Timing For HDFC NEFT
All NEFT transactions can be made from Monday to Friday during the working hours of the bank. Transfers can also be done on Saturdays during the first half of the day. Please note that NEFT transfer cannot be done on the second and 4th Saturday of a month.
Benefits of HDFC NEFT
- The e-Monies features enable better NEFT services
- Easy and fast
- Backed by the Reserve Bank of India (RBI)
Limitations of HDFC NEFT
- Slow process
- Does not work on bank holidays
- Transfers can only be processed during the working hours of the bank
FAQs of HDFC NEFT
- What is NEFT?
NEFT is expanded as National Electronic Funds Transfer. NEFT basically refers to a fund transfer mechanism that allows the customer of a bank to send funds to any other account holder through a wire transfer that can be done via internet banking.
- How do HDFC NEFT transactions get processed?
The fund transfer mechanism is governed and managed by the RBI. All NEFT-enabled banks in India will fall under the RBI.
- How can a customer get access to these services?
In order to avail NEFT services, a customer will have to request the bank for an internet banking ID and password. Once this has been generated, NEFT transactions can be carried out across the nation with all NEFT-enabled banks.
- What are the options the customer will have if NEFT transfer is delayed?
The customer can directly contact the bank to check the status of the NEFT transfer. The RBI can also be contacted if the bank is not able to resolve the query.
- In case the money is not received or credited to the payee’s account, will the sender get his/her money back?
If there is any error in a NEFT transaction and the money is not credited, it will be refunded.
- How long does it take for funds to get transferred through NEFT?
NEFT transfers can be initiated through internet banking at any time. However, the fund transfer will only be processed by the bank along with RBI, during the working hours of the bank. It will ideally take a couple of hours for NEFT transfers. Please note that sometimes it can also take a day or two.
- Is it possible to receive foreign remittances through NEFT?
No. All NEFT fund transfers are only possible in India.
- Can an account holder send money to other country account holders through NEFT?
- What if the fund transfer is not successful and the money has not been credited to the payee’s account?
In such a case, the money will be credited back to the account holder as soon as possible.
- Can NEFT transfer be done by visiting the branch?
Customers can also visit the nearest HDFC branch to avail NEFT services, apart from doing the online transfer.
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