In a recent notification passed, the HDFC Bank Limited has decided to cut the cost incurred on the online transactions which are done through RTGS and NEFT. With an year old move of Prime Minister’s demonetization scheme to curb black money and thus promote a digitized economy, the HDFC bank has decided to add to the promotion of a digital economy by making the online transactions which are done in the form of RTGS and NEFT transfers free of cost. This change in the transaction money by the HDFC Bank has been in effect from 1st November’ 2017.
HDFC Declares Free Of Cost Online Transactions Through RTGS & NEFT
With effect from 1st November’ 2017, the HDFC Bank Limited has decided to make the online payments and transactions which are done through RTGS and NEFT cost free. On the other hand, the various charges which are levied on the transactions making the use of cheques, as well as the requests put forward for additional leaves, are likely to get costlier from the succeeding month.
This rise is in context to the salary accounts as well as the non-managed savings. As per the revised fees as well as the amount charged for the savings and the salary accounts, the customers need not pay any additional amount as the transaction fee in case of RTGS and NEFT which stands for Real Time Gross Settlement and National Electronics Funds Transfer respectively. This change has been in motion since 1st November’ 2017.
HDFC Revises Online Charges | Check Details Here
The HDFC Bank has revised the charges which were applicable to the online transactions done with either RTGS or NEFT. Before the revision, the customers had to pay a sum of Rs. 25 each for a transfer of Rs. 2-5 lacs in an online transaction and Rs. 50 each for a transfer of more than Rs. 5 lacs. NEFT on the other hand, charged a sum of Rs. 2.5 for an amount less than Rs. 10,000, Rs. 5 for an amount in between Rs. 10,000-1 lac and Rs. 15 for an amount ranging in between Rs. 1-2 lacs.
An amount more than Rs. 2 lacs would cost a sum of Rs. 25. The revision in the online transaction in case of RTGS and NEFT by the HDFC Bank is in effect from 1st November’ 2017 for all the savings, salaried as well as the non-resident customers.
Source : Livemint