CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, 2nd Floor, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
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About YES Bank NEFT RTGS IMPS
Minimum Transfer Value
Rs. 2 Lakhs
Maximum Transfer Value
Up to daily transaction limit
Rs. 2 lakhs per transaction. Multiple transactions of 2 lakh can be done up to the daily transaction limit
Half hourly basis
Available 365 days 24*7
Available 365 days 24*7 except the interval between start and end of day processes.
Mobile Banking – Free
Per Transaction Charges Via Branch:
Rs.2.5 - up to Rs.10K;
Rs.5 - Rs.10,001 up to Rs.1 Lakh;
Rs.15 - Rs.1,00,001 up to Rs.2 Lakhs;
Rs.25 - Above Rs.2 Lakhs
Per Transaction Charges Via Branch:
Rs.25 - Above Rs.2 Lakhs and up to Rs.5 Lakhs;
Rs.50 - Above Rs.5 Lakhs
Via Mobile Banking - Free
Via Netbanking - Rs.5 per transaction
Electronic fund transfers are fast and secure. Digital transactions have removed the need to withdraw cash for most of your daily needs. Rents, credit card bills, insurance payments, school fees, utility bill payments, sending money to your loved ones, and many more transactions are now at your fingertips, literally. You can carry out these electronic transfers either through internet banking or mobile banking. These days, there is also SMS Banking and Whatsapp Banking, though they are yet to gain popularity.
YES Bank offers prominent fund transfer options, viz. NEFT, RTGS & IMPS. Customers can now transfer money from their YES Bank account to any other bank account in a few simple clicks. Also, these fund transfers can be done 24x7, removing the need to rush to the bank during working hours.
The National Electronic Funds Transfer (NEFT) system is an electronic payment system that allows for direct money transfers between bank accounts. Money is transferred directly from your bank account to the bank account of another individual in every NEFT network bank and branch.
NEFT transfers are available 24 hours a day, 7 days a week. Deferred Net Settlement (DNS) guarantees that NEFT transactions are resolved in batches. A cut-off time is set in advance, and all transactions obtained before then are resolved in batches. These transactions (payables and receivables) are netted out in NEFT.
RTGS (Real Time Gross Settlement) is a fund transfer system that allows money to be sent in 'real time' without the need for batch processing.
The Immediate Payment Service (IMPS) is an inter-bank electronic funds transfer system that allows you to send money from your YES Bank account to another bank's account. This service is available 24 hours a day, seven days a week, including holidays.
1. Does YES Bank charge for NEFT transactions?
NEFT transactions done via the YES Mobile app and YES online banking is not chargeable. NEFT transactions done at the branch will be chargeable. Refer to the table given at the top of the page for the charges.
2. What is the maximum amount I can transfer using YES Bank NEFT?
The maximum amount you can transfer per session of the NEFT transaction is Rs.50,000. Though RBI doesn’t specify a maximum limit for NEFT, YES Bank will determine your daily transaction limit based on your account type.
3. Can I schedule an RTGS transaction in advance with YES Bank?
No, YES Bank doesn’t have the provision of scheduling an RTGS transaction in advance.
4. What is an IFSC Code?
The Indian Financial System Code (IFSC) is an 11-character code that is used to identify the bank and branch where an account is held. The IFSC code is used to transfer money to a particular bank account and is unique to each branch of the bank.
5. What should I do if I don’t know the IFSC Code of the beneficiary account?
Don’t worry. If you don’t know the IFSC Code of the beneficiary account, click on the ‘I don’t know IFSC Code’ option next to the IFSC Code field. You can now search for the IFSC code using the bank name, city and branch name.
6. Who can use the YES Bank IMPS service to transfer funds?
IMPS service can be used by any YES Bank account holder who wants to transfer funds to a bank account that is a member of the NPCI’s Immediate Payment Services Network.
7. What is the time taken to transfer funds using NEFT, RTGS or IMPS?
RTGS and IMPS are real-time settlements while NEFT transfer is done in batches. While IMPS and RTGS transfers are done instantly, NEFT transfers may take anywhere from 30 mins to 4 hours.
8. What if I did an NEFT transfer after 7 PM?
Transfers done after 7 PM will be processed the next day in the first batch.
9. Is IMPS transaction free on YES Bank?
IMPS transactions done on the Yes Mobile app are free. IMPS transaction done via internet banking attracts a charge of Rs.5 per transaction.
10. Can I transfer 20 lakhs through YES Bank RTGS?
Yes, using online banking services, you can transfer up to Rs.20 lakhs from your YES Bank account. If you want to transfer beyond this limit, you can go to the branch and do it.
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