Alert for ICICI Bank customers: There is big news for ICICI Bank customers, which the bank has already communicated via email. The bank will carry out maintenance work from 11:55 PM on December 14 to 6:00 AM on December 15. During this period, the bank’s RTGS (Real Time Gross Settlement) service will be affected, and money transactions through RTGS will not be possible.
However, customers can still transfer funds using NEFT, IMPS, and UPI through iMobile or Internet Banking during this time.
What is RTGS?
RTGS (Real Time Gross Settlement) is a process of transferring money from one bank account to another in real-time. There are no charges for RTGS transactions done through online platforms like Internet Banking, the iMobile Pay app, or the Pockets app. However, for RTGS transactions initiated at a branch, Rs 20 plus GST is charged for amounts between Rs 2 lakh and Rs 5 lakh. For transactions between Rs 5 lakh and Rs 10 lakh, Rs 45 plus GST is applicable.
The transferred money is credited to the recipient’s account within 30 minutes after the fund transfer message is sent. Additionally, RTGS allows scheduling transactions in advance for up to three working days. It requires the complete details of the sender’s and recipient’s bank accounts, including the IFSC code of the recipient’s bank account.
RTGS transactions, both inward and outward, of the ICICI Bank would be temporarily down for six hours starting 11:55 pm on December 14 due to scheduled maintenance activity.@mrayushmishra #rtgs #icicibank https://t.co/rtxI3Cyxwc
— Business Standard (@bsindia) December 10, 2024
Charges for RTGS at ICICI Bank
Online Transactions (via Internet Banking, iMobile Pay, or Pockets App):
- Free of charge for all amounts.
Branch-Initiated Transactions:
- For amounts above Rs 2 lakh up to Rs 5 lakh: Rs 20 + GST.
- For amounts above Rs 5 lakh up to Rs 10 lakh: Rs 45 + GST.
How to Use RTGS Through Net Banking
RTGS transactions via Net Banking are simple and user-friendly. Follow these steps:
- Log in and Add Beneficiary Details: Log in to your Net Banking account and add the details of the recipient.
- Navigate to Payments: Go to the “Payments and Transfer” tab under “Funds Transfer” and click on “Add a Payee.”
- Enter Bank Details: Select the “Other Bank Payee” option and provide the recipient’s bank account details or credit card number, along with the bank name, branch, and IFSC code.
- Confirm and Transfer: Click on “Confirm” and enter the OTP received on your registered mobile number. Once the registration is complete, the money will be transferred to the recipient’s account within a few minutes.