Axis Bank RTGS Form

[nikhilchauhan]

Axis Bank provides many electronic payment options for Indian Customers.

Mainly there are 3 ways in which you can make electronic payment with Axis Bank - RTGS, NEFT, and IMPS. Before moving forward, it's important to understand the differences between the 3 modes;

Type of Transfer	NEFT	IMPS	RTGS
Speed of settlement	Real-Time	Real-Time	Real-Time
Maximum Transfer Value	NIL (Rs. 50,000 per transaction for cash-based remittances within India and to Nepal.	Up to Rs.2,00,000	NIL
Minimum Transfer Value	NIL	No Limit	Rs. 2,00,000
Charges	Rs. 2.50 (Up to 10,000) Rs. 5 (10,000-1,00,000) Rs. 15 (1,00,000-2,00,000) Rs. 25 (2,00,000-10,00,000)	Rs. 2.50 (Up to 1,000RS) Rs. 5 (1,000-1,00,000) Rs. 15 (1,00,000-2,00,000)	Rs. 25 (2,00,000-5,00,000) Rs. 50 ( Above 5,00,000)
Timing	24x7, 365 Days (Limit of Up to Rs. 1,00,00,000 in Non-Banking hours)	24x7, 365 Days	24x7, 365 Days (Limit of Up to Rs. 1,00,00,000 in Non-Banking hours)

RTGS/NEFT/IMPS Transfer with Axis Bank:

There are two ways to initiate an RTGS / NEFT/ IMPS transfer with Axis Bank:

1. Offline submission /In Branch Request (FOR RTGS/NEFT)
2. Mobile Banking (FOR RTGS /NEFT /IMPS).

OFFLINE SUBMISSION /IN-BRANCH REQUEST

Step 1: Download and Complete the Form

• Download the attached NEFT/RTGS form (in PDF format). This same form will be provided to you if you choose to initiate the transfer through an in-branch request. We have attached a copy of the same form in this post for your ease.
• Print a clear copy of the downloaded form.
• Fill out the form completely and accurately. How to fill up the form is mentioned below

How to Fill up the Form?

• Mention today’s date and your PAN number first on the right top corner.
• Mention the amount (in words) you wish to remit and tick on the mode of payments (NEFT/ RTGS).
• Choose the mode of payment (cash / cheque / debit own account) you want to use. Tick the way in which you would like to transfer.
• Now, add your personal details which include your cheque number, account number, cheque date, name, address and mobile number.
• Then, add the beneficiary's name, account number (also confirm the account number), bank name, IFSC code, branch address and any information you would like to provide to the receiver.
• Next you need to verify and recheck everything and sign the RTGS/NEFT form.

NOTE:- Please read the declaration carefully before signing off.

Step 2: Submit the Form at Your Branch

• Visit your nearest Axis Bank branch.
• Submit the completed NEFT/RTGS form along with any required identification documents to a bank teller or customer service representative.
• Once your request is processed, the funds will be transferred to the beneficiary's account.

Mobile Banking (Axis Mobile App)

• Log into your Axis Mobile using MPIN.
• Register a beneficiary
  • First click on Access Fund Transfer Option
  • Then click on Add Payee
  • Next click on Other Bank Payee option
  • Now, enter the receivers IFSC code and account number
  • Select the Add option.
  • Authenticate using MPIN and code received on SMS.
• For Transferring funds now, select the fund transfer option and click on All Payee button and choose the Select Other Bank Payee option.
• Choose the Beneficiaries name and enter the amount to be transferred.
• Select the Instant IMPS option.
• Verify and authenticate after clicking on ‘Confirm’.

Conclusion - When to use what?

• For urgent, high-value transfers: Use RTGS if speed is critical and the amount is substantial. Be aware of minimum transfer limits and potential fees.
• For routine transfers and bill payments: NEFT is a convenient and cost-effective option for transfers within India, although it's not real-time.
• For small, urgent transfers: IMPS is ideal for immediate transfers of smaller amounts, even on holidays. Be mindful of potential maximum limits and fees.