IDFC Bank RTGS Form

[nikhilchauhan]

IDFC Bank with more than 600 banks across India is a major private-sector bank mainly owned by IDFC Limited and provides various online fund transfer facilities.

Mainly there are 3 ways in which you can make electronic payments with IDFC 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	Rs.20,00,000	Up to Rs.2,00,000 per transfer	Rs. 20,00,000
Minimum Transfer Value	Re.1	No Limit	Rs. 2,00,000
Charges	NIL	NIL	NIL
Timing	24x7, 365 Days	24x7, 365 Days	24x7, 365 Days

RTGS/NEFT/IMPS Transfer with IDFC Bank:

There are two ways to initiate an RTGS / NEFT/ IMPS transfer with IDFC 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 to 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? (Remember to fill the form in Black Ink and CAPITAL LETTERS)

• Start by writing today’s date.
• Now, start by selecting the type of fund transfer(DD/RTGS/NEFT/Account to Account)
• Now you will see two boxes.
• Fill the left box with your Account name, number, branch, cheque number, and date.
• Now, in the right box, fill in the beneficiary name, account number(re-confirm also), account number, type, bank name, IFSC code, branch address and city, and any additional information.
• Carefully write the amount in both figures and words, recheck everything you’ve written, and sign the form along with your signature in the authorised signatory option.

Step 2: Submit the Form at Your Branch

• Visit your nearest IDFC 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 (IDFC Mobile App)

• Start by logging in to your mobile application using MPIN.
• Now, after logging in, click on the send money option on your home screen(Under savings account).
• Select the beneficiary bank name from the list given and add the beneficiary account number, IFSC code, name, and payment method. Confirm and proceed to verify using OTP to add the beneficiary
• Now, again come to the send money tab and click on all payees on the top right corner.
• Select the payee you want to transfer funds to and enter the amount you want to transfer, select the bank account you want to pay from, schedule the payment if you want to, and choose the payment method(IMPS/NEFT/RTGS).
• If you have scheduled a payment, select the scheduled date and proceed.
• Your payment will be completed as preferred.

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.