National Financial Switch (NFS)

1. Cash withdrawal: NFS service makes it easy for you to withdraw money.
2. Inquire about your current balance: The NFS service helps you check your balance
3. Statement Request (SR): You can get a mini statement or a statement using the NFS service.
4. Generate or change your PIN: NFS helps you change your PIN in a safe and convenient way.  
5. Aadhar Number Seeding (ANS): NFS service provides the user with the option to seed their Aadhaar number in their bank account. 
6. Card-to-Card Fund Transfer (C2C): NFS service facilitates the cardholders to use ATMs on the NFS network to transfer money from their account to any other bank account. You can transfer funds from card to card easily.  
7. Cheque Book Request (CBR): NFS service enables the cardholder to use ATMs on the NFS network to request a cheque book. 
8. Mobile Banking Registration (MBR): Under the NFS service a cardholder can avail mobile banking facility. You can register for mobile banking provided your mobile number has already been updated.  
9. Extension to non-banking entities with White Label ATMs: Non-banking entities that can own, deploy, and manage White label ATMs can also use this service. Therefore, regardless of the weather or topography, NFS services are available in India's most remote regions. NFS has extended its service to the following white label ATMs Hitachi Payment Services Pvt. Ltd., India1 Payments Limited, Tata Communications Payment Solutions Ltd., and Vakrangee Ltd. 
10. Value-added services are available:  The NPCI has also partnered with international card schemes like Japan Credit Bureau (JCB), Discover Financial Service (DFS), and China UnionPay International (CUPI), enabling the use of ATMs linked to the NFS network by cardholders of those schemes.
    
11. Interoperable Cash Deposit (ICD): This service enables bank customers to deposit cash into their accounts up to a predetermined amount. Some banks also permit third-party deposits, which allow customers to deposit money into either the same account (connected to the card) or another third-party account by providing beneficiary card information.  

1. Interoperable Cardless Cash Withdrawal (ICCW) using UPI: This service enables customers of (participating banks) who use UPI to withdraw money from the banks' ATMs (enabled for ICCW) without using a card. The customer must authorise the transaction using UPI, and the NFS ATM network must handle the settlement. 

Features and benefits of NFS

1. Client convenience: Since NFS upheld strict standards for network and application uptime of greater than 99.5%, the member banks were able to guarantee improved customer experiences. 
2. Connectivity:  It makes use of a highly developed infrastructure facility to enable a strong network, data security, and the backup of crucial data. Smaller, local co-operative banks and other regional banks, such as RRBs, are now able to join the ATM network due to NFS's introduction of the sub-membership model. 
3. Accessibility and effectiveness: NFS services offer a quicker resolution of complaints with no downtime and no data loss or theft. The Bharat Clearing and Settlement System (BCS), in addition to being compliant with local regulatory requirements, has benefited members with high operational effectiveness and ease of electronic transfer life cycle management (chargeback, re-presentation, etc.) in the network. 

1. Security: By using its unique and real-time Fraud Management, member banks are able to alert their customers to any suspicious transactions in real-time. The Fraud Risk Management (FRM) solution is made available in the NFS network to monitor transactions in real-time and generate alerts or decline the transaction. 
2. Many value-added services are available  

Aadhaar Seeding through NFS ATM Network

You can follow the instructions given below for Aadhaar seeding through your NFS ATM:  

Step 1: Go to an NFSA connected ATM.  

Step 2: You will start the transaction by selecting the 'ATM/Debit Card' option 

Step 3: Choose the option for 'Aadhaar Number Seeding'. 

Step 4: You will be asked to enter your Aadhaar number two times. 

Step 5: Once you confirm the Aadhaar number, the NFS will route the transfer of funds to the appropriate Issuing bank. 

Step 6:  The issuing bank will confirm your card and PIN information and look up the status of the account. The issuing bank will send the approved response following a successful verification. 

Step 7: The Issuing bank switch sends the message to NFS. 

Step 8: The message will be forwarded by NFS to the Acquirer switch. 

Step 9: The Acquirer switch will transmit the message received from NFS to the ATM. 

Step 10: The request for seeding the customer's Aadhaar number has been logged, according to the message that the ATM displays on the screen.

List of NFS Direct Member Banks

There are 113 direct members currently. The list is given below:  

List of NFS RRB Member Banks   

There are 43 RRB member banks currently. The list is given below:   

White Label ATMs under NFS

White Label ATMs (WLAs) are automated teller machines operated by non-bank entities under the National Financial Switch (NFS) network. Unlike bank-owned ATMs, WLAs are managed by third-party companies that provide ATM services to customers of multiple banks. Through the NFS, these ATMs are integrated into the broader banking ecosystem, allowing customers to withdraw cash, check balances, and perform other banking transactions irrespective of their bank.

WLAs increase ATM accessibility, especially in semi-urban and rural areas where bank-owned ATMs are limited. The NFS ensures seamless interoperability between WLAs and member banks, offering customers convenience and wider ATM reach across India.

Security and Interoperability of NFS Network

The National Financial Switch (NFS) network is designed with robust security measures and high interoperability standards to ensure safe and smooth financial transactions. The network follows stringent encryption protocols and fraud detection mechanisms to protect users from unauthorized access and cyber threats.

Interoperability is a core feature of NFS, allowing customers to access ATM services of any member bank using their debit cards, irrespective of their home bank. This interconnected framework reduces transaction friction and promotes a unified banking experience across the country. The Reserve Bank of India (RBI) and NPCI continuously monitor and upgrade security protocols to maintain trust and reliability in the NFS ecosystem.

How NFS Facilitates Fund Transfers

The National Financial Switch (NFS) facilitates instant and convenient fund transfers primarily through its network of interconnected ATMs. Using the NFS-enabled ATM, customers can perform Card-to-Card (C2C) fund transfers, which allow money to be sent directly from one debit card to another without the need for visiting a bank branch or using online banking platforms.

This process is secure and governed by guidelines laid down by NPCI, ensuring real-time settlement and transparency. NFS also supports interoperability across banks, which means fund transfers can happen seamlessly even if the sender and receiver have accounts in different banks connected through the NFS network.

Role of NPCI in NFS

The National Payments Corporation of India (NPCI) is the backbone of the National Financial Switch (NFS). Established to promote digital payments and financial inclusion, NPCI manages and operates the NFS, connecting thousands of ATMs across India to create a unified ATM network.

NPCI’s role includes maintaining the network infrastructure, ensuring smooth interbank transactions, enforcing security protocols, and settling transactions between member banks. Additionally, NPCI develops new features and services to enhance the NFS experience, such as Aadhaar-based authentication and fund transfer innovations, helping India move towards a more cashless and efficient economy.