Bandhan Bank provides its customers with different ways to transfer funds online at the convenience of their homes. Bandhan Bank NEFT is one of the most popular modes of transferring funds online to other Bandhan Bank and even other banks account holders. Let us deep dive into how to transfer funds using Bandhan Bank NEFT & know more about Bandhan Bank NEFT charges, timings & more.
Bandhan Bank Modes of Funds Transfer
Bandhan Bank provides several ways to transfer funds online as well as offline. Customers can either transfer funds online either through netbanking or mobile banking at the convenience of their homes or visit the nearest bank branch or ATM to do the same. Check some of the most popular ways to transfer funds from Bandhan Bank account below:
Online | Offline |
NEFT | Cheque |
RTGS | ATM Fund Transfer |
IMPS | |
UPI |
How does Bandhan Bank NEFT Work?
Bandhan bank NEFT service is a centralized mode of fund transfer, which is provided by the Reserve Bank of India. All the fund transfer requests from any of the banks operating in India are operated and processed by the RBI or Reserve Bank of India. Any request made from Bandhan Bank or any other bank goes to the Reserve Bank of India and after processing the request the amount is credited to the beneficiary’s account. All the NEFT transactions are processed in half hourly batches 24 x 7 & 365 days. You can take advantage of NEFT fund transfer on any day of the week and transfer funds from the convenience of your home.
Why should I Transfer Funds using Bandhan Bank NEFT?
Although, you can transfer funds using any of the modes of transfer which includes NEFT, RTGS, IMPS or UPI. But all the modes of transfer mentioned comes with different upper and lower limits on the amount that needs to be transferred. You should opt for NEFT transfer for the following reasons:
- Minimum Limit is as low as Rs.1. So, you can opt NEFT for fund transfer of any amount as there is no maximum limit on the amount.
- There are no inward charges on online NEFT transfer.
- Available 24 x 7 & 365 days
- Fund can be transferred Pan-India
- Schedule post dated transactions & standing instructions as per you requirements
How to transfer funds through Bandhan Bank NEFT to another bank?
Following is a stepwise process flow of how to transfer funds through Bandhan Bank NEFT to another bank:
Step 1: To do NEFT, any account holder can use Bandhan Bank internet banking or mobile banking. To do so, account holders will be required to visit either Bandhan Bank official website or mobile banking app & login using the credentials.
Step 2: After login, navigate to the “Payments & Transfers” section & opt for NEFT fund transfer.
Step 3: You will be required to provide necessary details for beneficiary addition (if not done already) such as, name of the beneficiary, name of the bank, branch address, IFSC code, account type & account number.
Step 4: Once beneficiary is added, you can simply select the beneficiary and enter amount to be transferred & proceed for authentication.
Step 5: You will receive an OTP on the registered mobile number. Add the OTP in the provided section to validate and complete the fund transfer.
Also, in case you do not have access to Bandhan Bank net banking and mobile banking services, you can visit any of the Bandhan Bank branch near you to do an NEFT transfer offline.
How to transfer funds through Bandhan Bank NEFT to another Bandhan bank branch?
Step 1: To do NEFT to a Bandhan Bank account holder, you will be required to visit either Bandhan Bank official website for netbanking or open mobile banking app & login using the credentials.
Step 2: After login, navigate to the “Payments & Transfers” section & opt for NEFT fund transfer. Click on “Within Bandhan Bank” tab.
Step 3: Enter necessary beneficiary details such as account number, IFSC code and enter the amount that you want to transfer.
Step 4: You will receive an OTP on the registered mobile number. Provide the OTP in the given space to validate and complete the fund transfer.
Bandhan Bank NEFT Timings
NEFT fund transfer can be made online at the convenience of your home round the clock i.e., anytime during the day (24 x 7) and anytime during the year (365 days). Offline NEFT transfer can be made from 10 AM till 6 PM on a bank working day, i.e., Monday to Saturday (excluding 2nd and 4th Saturday, Sunday and other public or bank holidays).
SBI or the State Bank of India is open every Monday to Saturday of every week (barring any bank/public holiday) with 2nd and 4th Saturday being the exceptions. The bank allows cash transaction till 3:30 PM.
Bandhan Bank is open every Monday to Saturday of every week (excluding 2nd and 4th Saturday and any bank or public holidays). You can visit the bank during the operating hours, which usually is 10 AM to 3:30 PM. Bandhan bank has a rotational lunch timing, which means that there is no haul for customers at any given time during the operating hours.
Bandhan Bank NEFT Charges
There are no NEFT charges on any fund transfer made online via Bandhan Bank netbanking or mobile banking facility. If the NEFT transaction is carried out at a Bandhan bank branch, the following Bandhan Bank NEFT charges will be levied basis the transaction or fund transfer amount:
Per Transaction Amount | NEFT Charges* – At the Branch | NEFT Charges – Online |
Up to Rs. 10,000 (Outward) | Rs. 2 | NA |
Above Rs. 10,001 up to Rs. 1 lakh (Outward) | Rs. 4 | NA |
Above Rs. 1,00,001 up to Rs. 2 lakhs (Outward) | Rs. 14 | NA |
Above Rs. 2 lakhs (Outward) | Rs. 14 | NA |
*(+ Applicable GST)
Note: NEFT charges mentioned above are as per the RBI guidelines as on 31st October 2022.
Bandhan Bank NEFT FAQ’s:-
The NEFT system is available round the clock throughout the year including all the days. NEFT transactions are processed in half hourly intervals entire day, 24 x 7 & 365 days per year.
The remitter and the beneficiary can easily track NEFT status by contacting NEFT Customer Facilitation Centre (CFC) of Bandhan bank. Details of NEFT CFCs of Bandhan bank will be available on the official website of Bandhan Bank. The details of CFC of member banks are also available on the website of the RBI.
In case amount transferred via NEFT is not credited to the beneficiary account, the destination bank or beneficiary’s bank will be required to return the revert the transaction to the originating branch or bank within 2 hours of completion of the batch in which the original transaction was processed.