INSUBCONTINENT EXCLUSIVE:
NEFT, RTGS, IMPS charges: Banks such as SBI and ICICI Bank charge a fee up to Rs 50 per transactionNeed to make a money transfer online
National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) are three option available
Online money transfer or wire transfer refers to remittance of funds from one bank account to another bank account - not necessarily in the
same bank - without the intervention of banking staff
For example, you can send money from your bank account in a bank, let's say State Bank of India (SBI), to your friend's account in another
Banks charge a fee for providing the NEFT, RTGS and IMPS services
In major banks today, a fee of Rs 50 per transaction (excluding GST) is charged for any of these services.(Read: How NEFT, RTGS, IMPS
transactions work)State Bank of India (SBI) money transfer onlineFor transactions made through net banking or mobile banking, SBI charges a
fee of Rs 1 (plus GST) per NEFT transaction of an amount up to Rs 10,000
For amounts between Rs 10,000 and Rs 1 lakh, SBI charges Rs 2 (plus GST), and Rs 3 (plus GST) for amounts between Rs 1 lakh and Rs 2 lakh
For transfers above Rs 2 lakh, SBI charges a fee of Rs 5 (plus GST) per transaction
In case of money transfer through RTGS, SBI charges Rs 5 per transaction for an amount between Rs 2 lakh and Rs 5 lakh
For amounts above Rs 5 lakh, the bank charges a fee of Rs 10 per transaction, according to the bank's websiteState Bank of India (SBI) money
transfer through bank branchFor transactions made by way of visiting a bank branch, SBI charges a fee of Rs 2.5 (plus GST) per NEFT
transaction up to Rs 10,000
For amounts between Rs 10,000 and Rs 1 lakh, the bank charges Rs 5 (plus GST) per transaction
For amounts between Rs 1 lakh and Rs 2, charges Rs 15 (plus GST) per transaction
In case of RTGS transfers, SBI charges a fee of Rs 25 (plus GST) per transaction for an amount between Rs 2 lakh and Rs 5 lakh
For amounts above Rs 5 lakh, SBI charges a fee of Rs 50 (plus GST) per transaction, according to its website
SBI currently charges a fee of Rs 1 (plus taxes) per transaction for money transfer of an amount between Rs 1,001 and Rs 10,000 through
IMPS, according to the bank's website.SBI IMPS transactions up to Rs 1,000 are free, according to the bank's website
This includes IMPS transactions made through a bank branch as well as those made online (through either mobile banking or net banking).Bank
For amounts above Rs 2 lakh, the bank charges Rs 25 per transaction
Transactions up to Rs 1 lakh do not attract any charges, according to the bank's website.For money transfer of an amount between Rs 2 lakh
and Rs 5 lakh through RTGS, Bank of Baroda charges a fee of Rs 25 (excluding GST) per transaction from 8:00 am to 11:00 am
above Rs 5 lakh, Bank of Baroda charges a fee of Rs 50 per transaction between 8:00 am and 11:00 am, Rs 52 per transaction between 11:00 am
lakhAbove Rs 5 lakh8.00 hrs
for NEFT and RTGS transactions made online, according to its website.HDFC Bank money transfer through bank branchFor money transfers made
through bank branches, HDFC Bank charges a fee of Rs 2.5 plus GST per transaction of amount up to Rs 10,000 in case of NEFT
For amounts between Rs 10,000 and Rs 1 lakh, HDFC Bank charges Rs 5 plus GST per transaction
In case of RTGS money transfers, HDFC Bank charges a fee of Rs 25 plus GST per transaction between Rs 2 lakh and Rs 5 lakh
For transactions above Rs 5 lakh, State Bank of India (SB) charges Rs 50 plus GST per transaction, according to its website.HDFC Bank IMPS
transactionsHDFC Bank levies a fee of Rs 5 plus GST per IMPS transaction of an amount up to 1 lakh
For amounts between Rs 1 lakh and Rs 2 lakh, HDFC Bank charges a fee of Rs 15 plus GST, according to its website.ICICI BankICICI Bank
charges a fee of Rs 2.5 plus GST per transaction for money transfer of an amount of Rs 10,000 through NEFT
For amounts between Rs 10,000 and Rs 1 lakh, ICICI Bank charges a fee of Rs 5 plus GST per transaction
For amounts between Rs 1 lakh and Rs 2 lakh, ICICI Bank levies a fee of Rs 15 plus GST per transaction
For amounts between Rs 2 lakh and Rs 10 lakh, and Rs 25 plus GST per transaction
In case of RTGS transactions, ICICI Bank charges Rs 25 plus GST per transaction of an amount between Rs 2 lakh and Rs 5 lakh
For amounts between Rs 5 lakh and Rs 10 lakh, the bank charges Rs 50 plus GST per RTGS transaction.For IMPS transfers, ICICI Bank charges a
fee of Rs 5 plus GST per transaction for amounts up to Rs 1 lakh
For amounts between Rs 1 lakh and Rs 2 lakh, ICICI Bank levies Rs 15 plus GST per transaction.
