The Banaskantha District
Central Co-operative Bank Ltd.

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NEFT – Transfer Your Money Through NEFT at Anytime

What is NEFT?

NEFT stands for National Funds Transfer. It allows you to transfer money from one bank to another on the same day. In a simple way, this is an electronic payment processing environment wherein transactions are settled as soon as they are processed.

Under this Scheme, individuals can electronically transfer funds from any branch to any individual having an account with any other bank branch in the country participating in the Scheme.

Features & Benefits of NEFT

Highly cost-effective

Eliminates the need to send physical cheque or demand draft to the beneficiary

Facility available 24x7 on Mobile Banking Channels

No need to worry about loss/theft of physical instrument or likelihood of fraudulent encashment

Get confirmation of the remittance

No paperwork

Comfort to transact from anywhere

Safest and Secure Mode of Fund Transfer

Money can be put to use by beneficiary on the same day or next day

Channels for doing NEFT:

Mobile Banking


Working of The Scheme:

Collect NEFT slip book from the Branch.

Mention beneficiary Bank and Branch name with IFSC code (Indian Financial System Code) and beneficiary’s Name, Account Type, Account Number and Amount to be remitted.

Message will be sent in electronic form in a highly secured manner through NEFT System to Beneficiary Bank’s Branch.

Criteria NEFT
Settlement Done in batches (Slower)
Full Form National Electronic Fund Transfer
Timings on Mon – Fri 10:00am - 5:00 pm
Timings on  1st  & 3rd  Saturday 10:00 am – 5:00 pm
Minimum amount of money transfer limit No Minimum
Maximum amount of money transfer limit No Limit
When does the Credit Happen in the beneficiary account Happens in the hourly batch Between Banks
Suitable for

Digital Banking Channels Timing
Small Money Transfer

24 x 7 x 365