electronic fund transfer (eft)
TRANSCRIPT
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Ansif EkRoll no :03
ELECTRONIC FUND TRANSFER
Presented by : ANSIF EK
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EXCHANGE OF MONEY FROM ONE ACCOUNT TO ANOTHER THROUGH COMPUTER
Cardholder-initiated transactions, using a payment card such as a credit or debit card
Direct deposit payment initiated by the payer
Wire transfer via an international banking network such as SWIFT
ELECTRONIC FUND TRANSFER
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NEFT- NATIONAL ELECTRONIC FUNDS TRANSFER
RTGS- REAL TIME GROSS SETTLEMENT
IMPS- IMMEDIATE PAYMENT SERVICE
Various Modes of EFT
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NEFT is the one of the most prominent electronic funds transfer systems of India
Started in Nov.-2005 It NEFT facilities are available in 30,000
bank branches all over the country There is no limit – either minimum or
maximum There is no restriction of centres or of any
geographical area within the country
NEFT-NATIONAL ELECTRONIC FUNDS TRANSFER
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How It Works ?
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Step 1 - Log into HDFC Bank NetBanking, using your Customer ID and Password
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Step 2 – Go to Fund Transfer tab.
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Step 3 - Click ‘Add a Beneficiary’
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Step 4 – Enter the beneficiary account or Credit card number
Step 5 – Select the IFSC, using the bank and branch name. Now you can add the beneficiary. Remember, this is a one-time process.
Step 6 – Click ‘Add’, then ‘Confirm’ Step 7 – Authenticate yourself at the secure
access step, and wait for your confirmation message
Post activation of a beneficiary, you can transfer a maximum of Rs. 100,000/- to each beneficiary for first 2 days
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To make your funds transfer/Credit card payment –
Step 1 – Go to Fund Transfer tab, and click Transfer to other bank
Step 2 – Select account, beneficiary, and enter the relevant details.
Step 3 – Accept the Terms and Conditions Step 4 – Review the details, and, if all is
correct, confirm to complete the process
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QUESTIONS ?
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