Indeed, RTGS and NEFT consider as the most popular fund transfer systems across the country. Undoubtedly, UCO bank offers customers these electronic systems with efficiency and security.
Moreover, RBI controls the RTGS or Real Time Gross Settlement system. However, UCO bank customers need to fill a form before initiating RTGS/NEFT transactions. Also, NEFT stands for National Electronic Fund Transfer.
Download UCO Bank RTGS/NEFT Form Online
Earlier, you need to visit the bank branch to get the RTGS/NEFT form. But, with technological advancements, processes have been changed. Therefore, UCO bank provides the facility to download RTGS/NEFT form online.
Moreover, this process is very easy and consumes lesser time. To download RTGS/NEFT form online, the following is the procedure:
- Open the bank’s website at www.ucobank.com.
- Go to the end of the page and select “Download Application Forms”. You will get this option in the vertical yellow panel.
- After that, click on the link to download RTGS/NEFT Application forms.
- Then select whether you desire to download RTGS or NEFT application form.
Further, you will get a PDF file which will be the form. Now you need to take a printout of this form and fill it accordingly.
How to Fill UCO Bank RTGS/NEFT Form?
Filling UCO bank RTGS/NEFT form requires some necessary information. Moreover, make sure that you fill the correct information in the form. Therefore, you are advised to check the form again after filling it.
- Firstly, the form is divided into different sections. Fill all the information correctly in the form. The form mainly requires information related to the applicant, payment, and beneficiary.
- Then sign the form in the designated field and submit at the bank branch. In case of any query, you can directly contact the bank executive at the bank branch.
- Moreover, you need to pay charges along with the form to initiate the RTGS/NEFT transactions.
- Also, do not forget to get acknowledgment against this form from the bank executive.
Rather than visiting the bank branch, you can initiate RTGS/NEFT transactions digitally as well. In that case, you need to use mobile or internet banking. Further, log in to your account and add beneficiary information. Finally, you will be able to initiate the RTGS/NEFT transactions.
|Monday-Saturday||08:00 am to 06:00 pm (Customer transactions) 08:00 am to 07:45 pm (Interbank transactions)|
|Monday-Sunday||24×7 (Customer transactions)|
RTGS/NEFT Transfer Limit
|Minimum amount||Maximum amount|
|RTGS||At least INR 2 lacs||No upper ceiling|
|NEFT||Generally, no lower ceiling||No upper ceiling (Maximum limit of INR 50,000 for cash remittances as well as remittances to Nepal)|
RTGS/NEFT – Nil charges when done through electronic mode
Outward remittance (Through Electronic mode)
|Remittance amount||Charges (Exclusive of GST)|
|INR 2 lacs-up to 5 lacs||INR 24.50|
|More than INR 5 lacs||INR 49.50|
|Till INR 10,000||INR 2.25|
|More than INR 10,000-up to 1 lac||INR 4.75|
|More than INR 1 lac-up to 2 lac||INR 14.75|
|More than INR 2 lacs||INR 24.75|
There are no charges levied on RTGS/NEFT transactions when done through alternate delivery channels. Importantly, these channels involve mobile banking and internet banking, and so on.
- Revocation is not possible after a successful deposit of amount into the beneficiary’s account.
- If you transfer funds through RTGS after working hours, then processing will take place on a succeeding working day.
- Moreover, the bank is responsible for payment orders only after the acknowledgment receipt is provided to the customer.
- The bank is not liable for any consequences when erroneous information is filled by the applicant in the form.
Undoubtedly, UCO bank offers you a secure and economic fund transfer through RTGS/NEFT. However, it is important to know that RTGS is different from NEFT. Therefore, one should be aware of complete details about RTGS/NEFT before using it. Also, it charges minimal fees per transaction and can be undertaken through the internet or mobile banking.
FAQs (Frequently Asked Questions)
Firstly, the beneficiary can communicate the IFSC code of his/her account to the remitter. If the beneficiary is not aware of the IFSC code, then he/she should ask his/her bank branch. Moreover, you can find IFSC code on the cheque leaf or on RBI’s official website.
Firstly, it is necessary for the remitter and beneficiary’s bank branch to be RTGS-enabled for initiating RTGS transactions. Further, you can visit the RBI’s web portal to know which bank branches accept RTGS. In that case, here is the link: http://rbidocs.rbi.org.in/rdocs/RTGS/DOCs/RTGEB1110.xls
UCO Bank offers NEFT for fund transfer to/from NRO as well as the NRE account. However, it is available across the country only and administers under the Foreign Exchange Management Act, 2000 (FEMA), and Wire Transfer Guidelines.
In general, the NEFT system is mainly used for personal fund transfers. However, it allows for the payment of credit card dues and other transactions.