- National Electronic Funds Transfer (NEFT) system is a nationwide funds transfer system to facilitate transfer of funds from any bank branch to any other bank branch.
- Below 2 lakh NEFT.
- The beneficiary gets the credit on the same Day or the next Day depends on the technical functioning of Computers and communication systems of RBI time of settlement.
- The essential information that the remitting customer has to furnish is Beneficiary details such as beneficiary name and account number. Name and IFSC of the beneficiary Bank branch.