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| Electronic Modes Of Payment Introductions to Electronic Modes of Payment: As the Internet has increased the speed of business and transacting, electronic modes of payment have gain importance. Benefits
Single account debit and Instantaneous Credit shall be afforded to the respective beneficiaries maintaining account across all branches of IDBI, based on data containing the details of beneficiary name, account number and beneficiary name given by customers centrally at designated IDBI Bank branches. Electronic Clearing Service (ECS) & NECS IDBI Bank offers ECS and NECS services to our esteemed clientele for bulk transfers from one account to many accounts or vice-versa. Customers can utilize this facility both for making payments like distribution of dividend, interest, salary, pension, etc. by institutions or for collection of amounts for purposes such as payments to utility companies like telephone, electricity, or charges such as house tax, water tax, etc or for loan installments of financial institutions/banks or regular investments of individuals. RTGS Nowadays when time is of essence, IDBI offers, Real Time Gross Settlement (RTGS) payments & Receipts system, a solution for faster and most efficient settlement system for our esteemed customers. This payment mechanism will enable funds to be received by the recipient intra-day, rather than the net settlement system exchanges that occur at the end of the banking hours. The RTGS product would provide the following benefits:
Timings for Transactions :- Cut off timing for Branches: In line with RBI's timelines, transactions can be sent through the RTGS system within following time schedules:
NEFT National Electronic Fund Transfer (NEFT) is one application considered for deployment to facilitate customers to transfer funds from their accounts in one bank to other customers with accounts in other banks. IDBI Bank offers the NEFT route for customers for inward and outward transactions through Web based SFMS Messaging System. IDBI Bank offers bulk upload of NEFT transactions through IDBI Bank Branches as well as online through i-CashWeb. All branches of IDBI are RTGS / NEFT enabled. NEFT Card Rates The following pricing will be applicable with effect from October 08, 2008
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| Timings for Transactions Cut off timing for Branches:In line with RBI's timelines, transactions can be sent through the RTGS system within following time schedules: |
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| On Weekdays – 0900, 1100, 1200, 1300, 1500 and 1700 hrs. | ||||||||||||||||||||||||||
| On Saturdays – 0900, 1100 and 1200 hrs. | ||||||||||||||||||||||||||
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