Have you ever been unable to transfer money just because it is a weekend, bank holiday or past the bank cut off time? Well, you need not worry about it anymore!
The Reserve Bank of India (RBI) has made online NEFT transfers around-the-clock process on all days including weekends and holidays. Hence, NEFT with Paytm Payments Bank is now available 24x7x365!
You can transfer money from your Savings Account whenever you need to and send up to Rs. 10 lakhs per transaction. If you are our corporate client, you can pay up to Rs. 50 lakhs per transaction from your PPBL Current Account through NEFT any time and day of the year. All you need to do is initiate the money transfer. We automatically select the best option among UPI, IMPS, NEFT to transfer your money without any hassle.
Till now, the NEFT facility was not available on banking holidays and people had to wait for the bank branches to open even for online money transfers. Also, the NEFT transactions could only be settled in between 8 am to 7 pm. On the first and third Saturdays, the settlement could be processed only from 8 am to1 pm.
This move by RBI will undoubtedly help us to enhance the banking experience of our customers and accelerate our mission to bring new-age financial services to underserved and unserved Indians across the country.