YES Bank RTGS Form

[ShavirB]

Yes Bank, one of the late entrants in the Indian Banking Industry provides 3 options for fund transfer - RTGS, NEFT, and IMPS. Before moving forward, let's understand the differences between the 3 modes;

Type of Transfer	NEFT	IMPS	RTGS
Speed of settlement	Half-Hourly	Real-Time	Real-Time
Maximum Transfer Value	Up to Daily Transaction Limit	Up to Rs.2,00,000	Up to Daily Transaction Limit
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. 5	Rs. 25 (2,00,000-5,00,000) Rs. 50 ( Above 5,00,000)
Timing	24x7, 365 Days	24x7, 365 Days	24x7, 365 Days (Except 23:50-00:30)

NOTE :- Online transactions are free of cost.

RTGS/NEFT/IMPS Transfer with YES Bank:

There are two ways to initiate an RTGS / NEFT/ IMPS transfer with YES 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?

• Start by writing the branch code, name and date along with choosing the type of fund transfer you want(NEFT/RTGS).
• Again write the branch name and choose the fund transfer type.
• Now, write the amount to be transferred in figures and words and select the mode of payment(Cash, Cheque and Debit my account).
• Now, enter the remitter details which include PAN number, name, account number, Account type, cash deposited, cheque number, date, address, mobile number.
• Next, enter the beneficiary details including name, account number, bank, branch & address, account type, purpose of remittance, IFSC code, number and message if any.

Step 2: Submit the Form at Your Branch

• Visit your nearest YES 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 (YES Bank Mobile App)

• Log on to your YES Bank Mobile Application.
• Select the Money Transfer option on your home screen.
• Now, click on the ‘Transfer to beneficiary’ option and select the beneficiary.
• If you want to add a new beneficiary, click on the ‘Add Recipient’ option and enter the bank account details of the beneficiary(30 minutes processing time).
• Now select the beneficiary and enter the amount to be transferred, also select the mode of transfer(IMPS/NEFT/RTGS) and add remarks(if any).
• Now, click on the transfer options and you will have a screen with all the necessary information.Verify and click on proceed.
• Enter your MPin and slide the transfer option. The amount will be transferred and you will get a popup screen with the option to download the e-receipt.

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.