Today there are many ways to transfer the fund. Each has its merits and demerits. But, the fund transfer limit is the first thing which comes to your mind when you choose a money transfer system. In this post, I would tell you the fund transfer limits of NEFT, RTGS, IMPS and UPI. Fund Transfer […]
Payments Basic
NEFT and RTGS Charges of SBI, ICICI, HDFC and Other Banks
Recently the charges of NEFT and RTGS transactions are coming down. Banks are now taking less charge than the RBI schedule. It is happening because another fund transfer method, the UPI or unified Payment interface, is totally free. However, the UPI has an upper limit of fund transfer. Thus sometimes, you have to use the […]
NEFT/RTGS Timings and Holidays For SBI, ICICI and HDFC
NEFT and RTGS are the fund transfer mechanism. The reserve bank of India manages it. Almost every bank uses this method of fund transfer. The introduction of these two methods has eased the fund transfer. Banks provide NEFT and RTGS facility online and offline as well. For the Offline transaction, you have to visit the […]
What is NEFT Fund Transfer? NEFT Full Form And Meaning
Like UPI and IMPS, NEFT is a fund transfer system. Recently this system has also become almost free. This is not an instant payment method, however, It is fast enough. This system is managed by the RBI and almost every big bank participates in this system. Full Form and Meaning of NEFT The full form […]
Debit Card Swipe Charge and MDR of Debit Card Transaction
The government has given further push to the digital transaction in India. It has decided to bear the cost of Merchant Discount rate (MDR) of the debit card payments. Thus, merchant would not be required to pay any transaction fees to the bank. Rather, the government will pay to the banks. The Decision of Free […]
New Debit Card Transaction Charges From Jan 2018
The debit card payment would become cheaper. The RBI has reduced the merchant discount rate for Debit card transactions. It has also changed the way of charging the MDR. Now there is a new structure for the debit card charges. The new rates for these transactions are applicable since January 1, 2018. [P. S. – Meanwhile […]
Bharat Bill Payment System (BBPS) of India
Thanks to the efforts of the Indian government, digital payments in India are witnessing a boom these days. And to give it a further push, the RBI mandated Bharat Bill Payment System. With UPI, mobile wallets and card payments, we are already able to pay digitally at shops. But with Bharat Bill Payment System, we […]