IndusInd Bank RTGS Form

IndusInd Bank RTGS transaction enables account holders make direct and quick payments using cheques, pay orders and demand drafts. Users can do online RTGS transactions by following the below steps:

• Log in net banking and visit the online fund transfer module.
• Register the beneficiary bank account or credit card for RTGS.
• Fill up the IndusInd Bank RTGS form.
• Initiate an online transfer of funds to the beneficiary account.

The payer gets a successful message after the amount is deposited in the beneficiary bank account. In order to know the status of the transaction, the payer can check the hyperlink provided by the bank after the payment is made.

The IndusInd Bank RTGS form provides complete details, terms and conditions regarding the RTGS payment system. For this reason, it becomes convenient both for the customers and non-customers of the bank to initiate RTGS translation at any of the IndusInd branches.

The applicant must fill the below details to initiate RTGS at IndusInd.

• Remitted amount.
• Beneficiary name.
• Beneficiary bank name.
• Beneficiary account number.
• Beneficiary bank branch address.
• Beneficiary bank branch IFSC code.
• Name of the remitter.
• Payment type and customer type.
• Mobile number and email id if a non-customer.
• Cheque number in case cheque is deposited.
• Debited account number if a customer asks to debit the amount is to be directly deducted from the account holder.

As per the instructions mentioned in the IndusInd Bank RTGS form, the minimum value per RTGS transaction is Rs 2 lakhs per day; there is no upper ceiling for this mode of electronic mode of transaction. RTGS is controlled by the Reserve Bank of India (RBI). The amount is directly settled in the record books of RBI and for this reason, the transaction cannot be revoked. RBI guidelines state that the RTGS transaction should reach the beneficiary account within 30 minutes of initiation of the transfer. In case, the transaction fails, the money must be returned to the sender’s account within 2 hours.

The IndusInd Bank RTGS form also consists of several terms and conditions. The applicants need to adhere to the same in order to proceed with the transition. These terms and conditions are

• If incorrect information is mentioned in the RTGS form and for that reason, there is an issue with the money transfer, the bank will not be liable for the same.
• If the RTGS is initiated by the payer after the business hours, the same will be processed the next day.
• The payer must keep sufficient funds in the bank account if the RTGS transfer is made through the bank account.

RTGS is the fastest high-value money transfer mode in India. Approximately 45000 bank branches have participated in this electronic payment system.