RTGS (Real Time Gross Settlement)
Experience lightning-fast, high-value fund transfers with Harco Bank's RTGS service.
What is RTGS?
Real Time Gross Settlement (RTGS) is a system where the processing of fund transfer instructions takes place at the time they are received (real-time). 'Gross Settlement' means the transaction is settled on a one-to-one basis without netting with any other transaction. Once processed, payments are final and irrevocable. RTGS is primarily used for large-value transactions, offering a secure and efficient way to move funds between banks.
Harco Bank provides a robust and reliable RTGS service, enabling you to send and receive high-value payments quickly and securely across India.
Benefits of RTGS
Real-Time Processing
Transactions are processed instantly upon receipt, ensuring funds are transferred without delay.
High Security
RTGS offers a highly secure settlement system, making your large-value transfers safe and reliable.
No Upper Limit
There is no upper limit for RTGS transactions, making it ideal for large corporate or individual transfers.
24x7 Availability
RTGS is available 24 hours a day, 7 days a week, 365 days a year, ensuring flexibility for your transactions.
Irrevocable Transfers
Once processed, RTGS transactions are final and irrevocable, providing certainty of payment.
Inter-Bank Transfers
Facilitates efficient and seamless transfer of funds between different banks across India.
Eligibility & Requirements
Who can use RTGS?
- Individuals with an account at Harco Bank.
- Corporates and businesses holding accounts with Harco Bank.
- Minimum transaction value for RTGS is ₹2,00,000/-.
Information Required for RTGS
- Beneficiary Account Number: The account number of the person/entity you are sending money to.
- Beneficiary Name: Full name of the beneficiary.
- Beneficiary Bank Name: The name of the bank where the beneficiary holds an account.
- Beneficiary IFSC Code: The 11-character Indian Financial System Code of the beneficiary's bank branch.
- Amount to be remitted: The precise amount you wish to transfer.
Transaction Limits & Timings
Transaction Limits
- Minimum Amount: ₹2,00,000/- (Rupees Two Lakhs Only)
- Maximum Amount: No upper limit prescribed by RBI for RTGS transactions.
Operating Hours
- 24x7 Availability: RTGS services are available round the clock, throughout the year, including holidays.
- This ensures you can transfer funds at your convenience.
RTGS Charges
Applicable charges for RTGS transactions through Harco Bank.
| Transaction Amount | Online (Mobile Banking) | Branch Visit |
|---|---|---|
| ₹2,00,000 to ₹5,00,000 | Free | ₹24.50 (inclusive of GST) |
| Above ₹5,00,000 | Free | ₹49.50 (inclusive of GST) |
How to use RTGS?
Follow these simple steps to initiate an RTGS transaction.
For Mobile Banking Users
Log in to your Harco Bank Mobile Banking App. Navigate to 'Fund Transfer' and select 'RTGS' as mode of transfer.
Add Beneficiary
If not already added, add the beneficiary by providing their name, account number, bank name, and IFSC code. This usually requires a cooling period for activation.
Initiate Transfer
Select the registered beneficiary, enter the amount (minimum ₹2 Lakhs), and confirm the details. Authorize the transaction using your PIN/OTP.
For Branch Visit
Fill out the RTGS application form available at any Harco Bank branch. Provide all required beneficiary details and the amount. Submit the form along with cash/cheque if applicable.
Frequently Asked Questions
Ready to experience seamless high-value transfers?
Initiate your RTGS transaction through Harco Bank's secure online platforms or visit your nearest branch today.
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