FUNDS TRANSFER
This query is : Resolved
Guest
Guest
(Querist)
07 March 2010
WHAT`S THE DIFFERENCE BETWEEN RTGS AND NEFT
CMA Ramesh Krishnan
(Expert)
07 March 2010
Both are means of electronically transferring funds from one account to another.
NEFT - National Electronic Funds Transfer
RTGS - Real Time Gross Settlement
RTGS transactions are settled in real-time with very small waiting period. The funds transfer takes place within two hours of request.
NEFT transactions take place on a batch basis. Customers are given a window between which requests for transfers may be made. At the end of the window period, the transactions are processed.
NEFT - National Electronic Funds Transfer
RTGS - Real Time Gross Settlement
RTGS transactions are settled in real-time with very small waiting period. The funds transfer takes place within two hours of request.
NEFT transactions take place on a batch basis. Customers are given a window between which requests for transfers may be made. At the end of the window period, the transactions are processed.
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