Union Bank of India RTGS PDF Form Download Online: NEFT Form

Download United Bank of India RTGS/NEFT PDF form : Being one of the largest banks of India, Union Bank of India serves more than 120 million customers. It is a government bank since 1919 with headquarters in Mumbai, Maharashtra. Moreover, it amalgamated with Corporation Bank and Andhra Bank in April 2020. After that, due to its branch network, it became fourth largest bank in India.

However, it has some branches located in abroad after amalgamation. UBI is committed to provide convenience to customers. Also, it provides assistance through its customer care: 1800-22-2244 or 1800-208-2244.

This article may help you make aware of RTGS and NEFT in Union Bank of India. It provides online and offline methods for fund transfer.

RTGS (Real Time Gross Settlement)

It refers to the fund transfer mechanism in which funds are transferred between bank account. However, this transfer takes place on gross basis and in real-time. Real-time means processing of fund transfer at the same time it is received instead of another time. On the other hand, gross settlement means fund transfer settlement on order by order basis without netting.  

Transaction limit:

Generally, RTGS is used when there is a large value remittance. Therefore, its minimum amount limit is Rs. 2 lakhs but there is no maximum limit.

RTGS Timings

Monday to Saturday: 07:00 am to 05:45 pm

Generally, UBI does not operate RTGS on all Saturdays. 1st, 3rd and 5th Saturdays are the operational days of RTGS. However, all Sundays and 2nd & 4th Saturdays are holidays in UBI for RTGS.

In case of same day processing for bulk RTGS transactions, then files should be uploaded prior to 05:00 pm.

Service Charges:

Transaction amountCharges (Taxes excluded)
 08:00 am – 11:00 am11:00 am – 01:00 pmAfter 01:00 pm
Rs. 2 lakhs- up to Rs. 5 lakhsRs. 25.00Rs. 27.00Rs. 30.00
More than Rs. 5 lakhsRs. 50.00Rs. 52.00Rs. 55.00

NEFT (National Electronic Fund Transfer)

In general, it refers to nation-wide system of money transfer on one-to-one basis. Moreover, it facilitates electronic fund transfer across the country. NEFT has no limitations on amount to be remitted to other bank account.

Transaction limit:

NEFT is primarily for the transfer of funds of any amount. It clearly implies that there is no minimum as well as maximum limit on NEFT amount.  

NEFT Timings

  • Mondays to Fridays: 08:00 am to 06:30 pm
  • Saturdays (1st, 3rd & 5th): 08:00 am to 06:30 pm

2nd & 4th Saturdays and all Sundays remain holidays for NEFT in UBI. Moreover, NEFT settlements take place in hourly batches. Generally, 12 hourly settlements are taken place between 08:00 am to 07:00 pm. Also, these settlements are for weekdays and all working Saturdays.

Service Charges:

Transaction bandCharges (taxes excluded)
Re. 1 – Rs. 10,000Rs. 02.50
Rs. 10,001 – Rs. 100,000Rs. 05.00
Rs. 100,001 – Rs. 200,000Rs. 15.00
Rs. 200,001 and aboveRs. 25.00

Download Union Bank of India RTGS/NEFT Pdf form Online

Without a doubt, RTGS and NEFT systems consider as the quickest fund transfer modes. Moreover, it is available in all the branches of UBI.

Also, you may visit the branch for the RTGS/NEFT form or download it online. However, downloading the form online is better than visiting the branch. It is because it saves a considerable amount of time for customers.

To download the RTGS/NEFT form online, you should click here and get this form easily. Further, you need to fill the form and submit it to the branch.

Fill RTGS/NEFT form in Union Bank of India

Firstly, UBI RTGS/NEFT form requires many important details about the transaction. You need to provide details of the beneficiary as well as remitter in this application form.

The following information is asked in this form:

Beneficiary details:

  • Name and address
  • Bank name and branch address
  • IFSC code and date of remittance
  • Account type and number

Remitter details:

Remittance details:

  • Amount to be remitted in words and figures
  • Payment mode and date

Also, provide other details in the form. At last, it is recommended to verify all details before submitting it to the branch. Sign the form and handover it to the bank executive.

After that, do not forget to take customer copy of this form. It mentions transaction reference number, remittance date and UTR number.

Digital banking for Union Bank of India RTGS & NEFT

Undoubtedly, UBI provides greater convenience to customers. Further, it facilitates RTGS and NEFT through digital banking. Moreover, its digital banking comprises of mobile and net banking for fund transfer. Also, beneficiary details are important for both the banking platforms. Therefore, you should make sure to register it.

  • Net Banking: Here, you can transfer funds using RTGS and NEFT. You can use UBI net banking by logging in to the link.  
  • Mobile Banking: You can simply NEFT any amount using UBI’s mobile banking app. However, this banking does not facilitate RTGS fund transfer. You may download the mobile app using the link.

Summary

In conclusion, Union Bank of India offers different types of banking and financial services. One of such services is fund transfer from one bank account to another. With RTGS & NEFT, you can transfer money in an economic, safe and reliable manner.

FAQs – Frequently Asked Questions

Should I have a bank account with UBI to transfer fund?

You need to have an UBI bank account to avail NEFT. With this, you can transfer funds of any amount. But, as non-customer, you may remit amount of maximum Rs. 50,000 per transaction. UBI will soon introduce this facility. However, RTGS is not available for non-customers.

Can I use RTGS or NEFT for remittances outside the country?

No. RTGS as well as NEFT do not allow for abroad remittances. But you can use these fund transfer systems for remittances within the country only.

How RTGS considers more beneficial than other fund transfer modes?

It is because RTGS involves the least time in fund transfer compared to other modes.

Specifically how much time does NEFT consume to transfer money? How long does it take to get beneficiary the remitted amount?

In general, NEFT consumes a few minutes to transfer funds. However, it depends on the remittance time whether the beneficiary gets the remitted amount the same day or the next day.

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