How to Transfer Funds using Axis Bank NEFT in 2023?
All About NEFT
National Electronic Funds Transfer (NEFT) is a nation-wide payment platform that facilitates one-to-one funds transfer. This method of fund transfer lets its customers to transfer funds from their bank to any individual’s account with any other bank in the country having the same facility. The bank-wise list of branches that participates in NEFT is provided on the website of Reserve Bank of India.
Now let’s suppose an account holder maintains a bank account with Axis Bank, so let’s understand what is the method to transfer funds via Axis bank NEFT service:
Step 1: Firstly, login into the Axis bank net banking account with the help of username and password.
Step 2: Click on the option “Other bank Account” and then enter the beneficiary details like beneficiary name, account number, IFSC code and branch name.
Step 3: Provide the transaction password and then click on “Submit” to proceed.
Step 4: Click on the “Activate beneficiary” to complete the transaction.
For NEFT transactions an account holder must be ready with certain things so as to proceed with NEFT. Below mentioned are all the requirements that need to be fulfilled before making a NEFT transaction.
Requirements for a AXIS Bank NEFT Transaction
Below mentioned are the prerequisites so as to make axis bank NEFT transactions:
- Beneficiary’s bank account number
- Payee’s name
- IFSC Code
Is NEFT chargeable?
Account holders who opt for Axis Bank NEFT either by online, debit cards or credit cards or via offline methods do attract charges. These charges depend vary bank to bank. Also, there is no need to pay for charges while receiving funds via NEFT.
AXIS Bank NEFT Charges
Axis bank NEFT is chargeable at the below mentioned rates:
NEFT Timings
To carry out daily banking operations an account holder shall know Axis bank timings which may differ from branch to branch.
Axis Bank timings overview:
Now, let us have a look at the Axis bank timings for its daily operations:
Axis Bank NEFT Timings
The axis bank timings for making NEFT so as to transfer funds are as follows:
These transactions are processed in branches every day except 2nd & 4th Saturdays and bank holidays. Also, bank account-holders can access the NEFT facility with the help of Axis Bank Net banking 24×7. No charges are imposed on the transfer of funds online via NEFT system.
Axis Bank RTGS Timings
The axis bank timings for making RTGS so as to transfer funds are as follows:
The beneficiary bank has to credit the beneficiary's account within 30 minutes of receiving the funds transfer message. The RTGS service window for online channels is available from 07.00 hours to 17:45 hours on week days and working Saturdays.
Axis Bank Lunch Timings
Axis bank has an official lunch time from 01:00 pm to 02:00 pm. But bank provides its services during this time as well as bank employees go for lunch on rotational shift basis.
Axis Bank Phone Banking Timings
Below mentioned are the numbers so as to access the Phone Banking Services from anywhere in India from a landline or mobile phone:
- 1-860-419-5555 / 1-860-500-5555 (Charges applicable as per the service provider)
- Customers need to dial +91-22-67987700 to access Phone Banking services from outside India.
- To block credit/debit/prepaid cards, dial 24-hour Emergency Helpline Number i.e. +91 22 67987700
- Loan Services are available between 8:00 a.m. to 8:00 p.m., Monday to Saturday (excluding national holidays)
- IVR services are available 24*7, credit card & account services are available 8:00 a.m. to 8:00 p.m.
Axis bank NEFT can be made 24*7 with the help of Axis bank retail and corporate net banking, mobile banking. But an account holder must adhere to the axis bank timings.
AXIS bank NEFT Charges and timings
FAQ’s
1. What are the features of Axis bank NEFT?
Below mentioned are the advanced features of Axis Bank NEFT:
- Reliable
- Convenient
- Hassle free
- Economical way to transfer funds
- Risk free process
2. What are the limitations of Axis Bank NEFT?
Below mentioned are some of the drawbacks of making Axis Bank NEFT:
- It can only be done during working hours of the bank i.e. it is not available 24*7.
- It is not available on bank holidays or on weekends.
- IMPS is better as funds get transferred immediately.
3. Who all can avail Axis Bank NEFT facility?
Ideally, all the account holders can avail Axis Bank NEFT facility. But for that, they need to have an active net banking facility so as to transfer funds.
