Axis Bank NEFT Form 2023: Timing, Charges & Fill NEFT Like This

By DEEPAK KUMAR

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National Electronic Funds Transfer (NEFT) enables you to transfer funds and make credit card payments to any bank across India through an online platform. This service offers increased convenience, allowing for easier transactions and wider reach with fewer restrictions compared to previous methods. axis bank neft form neft form kaise bhare neft form download axis neft format aixs bank from, Download free 

What is NEFT?

NEFT has revolutionized online fund transfers, overcoming initial skepticism due to its advanced technology and potential confusion. Its success has led to increased adoption and word-of-mouth recommendations. When the beneficiary has an account with the same bank, NEFT incurs charges, whereas transferring money to a beneficiary from another bank involves a list of charges that vary based on the transferred amount. These charges are minimal, ranging from Rs 2.50 to Rs 25, making NEFT affordable and pocket-friendly. This transfer method is highly secure and encourages cashless transactions. Both the remitter and beneficiary receive transaction notifications, providing a sense of relaxation. Once aware of the bank’s timings, users simply need to initiate the transfer, and the rest is taken care of seamlessly.

Who is eligible to access the Axis Bank NEFT facility?

NEFT allows individuals, firms, and corporates holding bank accounts to transfer funds. Additionally, individuals without a bank account (walk-in customers) can deposit cash at NEFT-enabled branches and provide instructions for fund transfers via NEFT. However, cash remittances for walk-in customers are limited to a maximum of Rs. 50,000 per transaction. These customers are required to provide complete details, including their address and telephone number. NEFT enables originators or remitters to initiate fund transfer transactions even in the absence of a bank account.

  • NEFT is available for customers who hold Savings or Current Accounts at the branch, as well as for walk-in
  • customers for transactions below Rs. 50,000.

Minimum and Maximum Amount for Transfer 

What are the minimum and maximum amounts allowed for transfer 

  • Minimum amount for NEFT transfers: Rs. 1
  • There is no maximum limit for NEFT transfers.

National Electronic Funds Transfer (NEFT) enables you to transfer funds and make credit card payments to any bank across India through an online platform. This service offers increased convenience, allowing for easier transactions and wider reach with fewer restrictions compared to previous methods.

What is NEFT?

NEFT has revolutionized online fund transfers, overcoming initial skepticism due to its advanced technology and potential confusion. Its success has led to increased adoption and word-of-mouth recommendations. When the beneficiary has an account with the same bank, NEFT incurs charges, whereas transferring money to a beneficiary from another bank involves a list of charges that vary based on the transferred amount. These charges are minimal, ranging from Rs 2.50 to Rs 25, making NEFT affordable and pocket-friendly.

This transfer method is highly secure and encourages cashless transactions. Both the remitter and beneficiary receive transaction notifications, providing a sense of relaxation. Once aware of the bank’s timings, users simply need to initiate the transfer, and the rest is taken care of seamlessly.

Who can avail Axis Bank NEFT facility?

NEFT allows individuals, firms, and corporates holding bank accounts to transfer funds. Additionally, individuals without a bank account (walk-in customers) can deposit cash at NEFT-enabled branches and provide instructions for fund transfers via NEFT. However, cash remittances for walk-in customers are limited to a maximum of Rs. 50,000 per transaction. These customers are required to provide complete details, including their address and telephone number. NEFT enables originators or remitters to initiate fund transfer transactions even in the absence of a bank account.

  • NEFT is available for customers who hold Savings or Current Accounts at the branch, as well as for walk-in
  • customers for transactions below Rs. 50,000.

Minimum and Maximum Amount for Transfer using the Axis Bank NEFT facility?

  • Minimum amount for NEFT transfers: Rs. 1
  • There is no maximum limit for NEFT transfers.

Axis Bank NEFT Charge’s 2023

Transaction Type NEFT Charges
Mobile and Internet Banking Nil
Bank Branch Nil

How to Send Payment via NEFT 2023

NEFT, or National Electronic Funds Transfer, is a popular method of sending money in India. There are two ways to send payment using NEFT:

  • 1) Via Online Internet Banking and
  • 2) Via Bank Branch.

Via Online Internet Banking and: If you want to send money via NEFT, you can do so easily using your Axis Bank Internet Banking Service. To get started, simply log in to the Axis Bank Website and add a new beneficiary. Once you’ve done that, you’ll be able to make payments via NEFT. This convenient service is available to all Axis Bank customers with Internet Banking and full transaction rights.

NEFT via Bank Branch:If you prefer to make NEFT transactions through offline mode, you can do so by visiting your nearest Axis Bank branch. Simply request for a NEFT form or slip and fill in all the necessary details. Once you have completed the form, submit it to the cashier and your bank branch will send the payment to the intended recipient within 2 working hours.

What are the essential requirements for customers to initiate a remittance?

 

In order to make a remittance, you will need the IFSC code of the bank branch where the funds are to be sent. The IFSC code is an 11-character code that uniquely identifies the branch. You will also need to provide the beneficiary’s account number, name, and address to ensure that the remittance is sent to the correct person. Once you have gathered this information, you can approach the branch to initiate the transfer.

How to get the IFSC of the Axis branch?

where the account is maintained or from the RBI website. The Indian Financial System Code (IFSC) is a unique 11-digit code assigned to NEFT/RTGS enabled branches. This code is crucial for online fund transfer transactions. If you are not aware of the IFSC code of the beneficiary bank, you can obtain it by selecting the bank and branch while registering the beneficiary. So, always keep this code handy for hassle-free fund transfer transactions.

When is the amount credited in the beneficiary account

  • Axis Bank NEFT operates 24×7, 365 days a year.
  • Confirmed transactions are immediately debited from the source account and processed.
  • Transactions initiated before the cut-off time are processed on the same day.
  • Transactions made outside NEFT hours and on NEFT holidays are processed on the next working day.
  • Sufficient funds must be available in the account for successful transaction processing.
  • If retrying, check the status of the previous transaction.
  • The credit into the beneficiary account depends on the destination bank after the amount is debited and processed from Axis Bank.

Axis Bank NEFT Timing 24×7

  • NEFT transactions can be initiated 24×7 through Retail Internet Banking, Mobile Banking, and Corporate Internet Banking.
  • Transactions can be initiated from 8 AM to 4.30 PM as per the customer’s approval limit.
  • Transactions can be initiated from 4.30 PM to 6.30 PM for amounts less than INR 5 crores.
  • Transactions can be initiated from 6.30 PM to 8 AM for amounts up to INR 1 Crore, including 2nd and 4th Saturday, Sunday, and Bank Holidays.

Importent Account Number 

Outward: When transferring money, it’s crucial to make sure the beneficiary’s account number is accurately stated on the voucher. This ensures that the remittance goes to the intended recipient.

If you’re requesting remittance from customers of another bank, it’s important to include your 15-digit Finacle account number. This is a mandatory requirement.

What is the difference between RTGS and NEFT?

  • Both RTGS (Real Time Gross Settlement) and NEFT are services provided by RBI for online funds transfer between member banks.
  • As per RBI guidelines from 15th November 2010, RTGS is available only for transactions of Rs.2,00,000/- and above. neft format aixs bank neft format aixs bank neft format aixs bank neft format aixs bank
  • For any transaction below Rs.2,00,000/-, NEFT should be used as the preferred method of funds transfer.

What is the Benefits of Axis Bank NEFT?

  • Axis Bank NEFT is available to all users of our Net banking, both existing and new, making it accessible to a wide range of customers.
  • The NEFT facility provided by Axis Bank is known for its simplicity, convenience, speed, and security. Users can transfer funds to beneficiaries in other banks seamlessly and securely.
  • With Axis Bank NEFT, customers can enjoy the flexibility of initiating transactions anytime and anywhere, from the comfort of their homes or offices, resulting in time and energy savings.
  • Axis Bank NEFT offers cost-effective solutions, as the fees for NEFT transactions are lower compared to conventional modes of remittance such as Demand Drafts (DD) or Money Transfers (MT).

Can I Stopped NEFT Payment be initiated?

Once a transaction is processed, it cannot be cancelled or stopped.

Important Instructions for Axis Bank NEFT

  • The duration for the account to be credited is subject to the processing time of the Payee’s Bank.
  • The payment will be received by the Payee’s bank within the timeframe specified by the Reserve Bank of India. neft form kaise bhare neft form kaise bhare neft form kaise bhare neft form kaise bhare

General notes for Axis Bank NEFT

  • The funds transfer option is available for all beneficiary bank branches participating in the NEFT scheme, ensuring widespread accessibility. neft form download axis neft form download axis neft form download axis 
  • It is crucial to verify the accuracy of the beneficiary details before initiating the transfer to avoid any errors.
  • Take note of the transaction reference number provided for future reference or any inquiries related to NEFT transactions. This reference number should be used when following up with the destination bank regarding the credit into the recipient’s account.
  • NEFT transactions are specifically meant for transferring funds from Axis Bank to other banks. To transfer funds to another Axis Bank account, please utilize the Third Party Transfer option.

FAQ”S Axis Bank NEFT Form 2023

What is NEFT application form?

A National Electronic Fund Transfer (NEFT) slip or a NEFT form is a document that has to be duly-filled in, in order to initiate an electronic funds transfer. All banks will issue NEFT application forms at their respective operating branches.

Can I fill NEFT form online?

Click on the button to generate the NEFT form to register NEFT details in LIC online. The Form contains all the details related to you ie your policy number, name, mobile number, your email ID, and the bank details entered by you in the previous step.

Can we use NEFT without Cheque?

You can use the methods listed below to conduct an offline NEFT and RTGS transaction along with a request letter to bank for RTGS payment without cheque: Visit your bank’s nearest NEFT/RTGS-enabled branch. The NEFT/RTGS money transfers request form should be filled out

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