Andhra Bank RTGS Form

The Andhra Bank RTGS form can be found at any branch of the bank and must be filled by you carefully. As RTGS payments are processed based on the account number and IFSC only, any mistake on your part might have serious repercussions. Here is how you can fill out the RTGS form:

• You need to find an RTGS form at the branch. You can ask a bank representative to help you out.
• Add all the relevant details to the form. You should start by filling the date and the cheque details.
• Make sure that you add the correct serial number of the cheque.
• Write your account number and the details of your beneficiary.
• Add the IFSC code of the beneficiary and the account number.
• Submit the form and the cheque to the bank representative to initiate the RTGS transfer process.

Apart from the offline method, you can complete the transactions via net banking facility from any internet connected computer. Here are the steps for initiating an online RTGS transaction:

• You will need to log in to your internet banking account with your user ID and password.
• Go to your transactions and select the option for RTGS.
• Select a beneficiary to whom the payment has to be processed. If you have added a new beneficiary, it may take up to 48 hours for the beneficiary to be activated for RTGS.
• Then select the option to make the payment.
• Validate your payment via transaction password and with the help of an OTP.

Once you complete this process, the payment will be credited to the bank account of the beneficiary.

Here are the charges for Andhra Bank RTGS payment:

• No charges are applied on online RTGS transactions made using the internet and/or mobile banking
• RTGS transactions are allowed to be made on a round-to-clock basis i.e. 24x7x365
• At the bank branch, between the hours of 9 AM to 12 PM:
  • Charges for transaction amount between two lakh to five lakh are Rs. 25 per transaction and Rs. 50 per transaction for above five lakh.

• After 12 PM the charges for RTGS transactions are:
  • For transactions between two lakh to five lakh are Rs. 30 per transaction, and
  • Rs 55 per transaction for RTGS payments above five lakh.

The concept of RTGS was introduced in 1985 across the banks in the UK. However, In India, various banks began to offer RTGS payment facilities by 2005 only.

The Reserve Bank of India governs RTGS facility in India. Each bank charges a processing fee for remitting payments through RTGS. RTGS has enabled the transfer of large amounts of money within a few minutes to any bank account in India whereas previously these transactions used to take days to be processed.