Ansif EkRoll no :03

ELECTRONIC FUND TRANSFER

Presented by : ANSIF EK

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

NEFT- NATIONAL ELECTRONIC FUNDS TRANSFER

RTGS- REAL TIME GROSS SETTLEMENT

IMPS- IMMEDIATE PAYMENT SERVICE

Various Modes of EFT

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

How It Works ?

Step 1 - Log into HDFC Bank NetBanking, using your Customer ID and Password

Step 2 – Go to Fund Transfer tab.

Step 3 - Click ‘Add a Beneficiary’

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

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

QUESTIONS ?