NEFT stands for National Electronic Funds Transfer and is a payment system which facilitates one-to-one funds transfer. Like RTGS, NEFT also transfers funds from onebank, but unlike RTGS the settlement takes place in batches (that may include transfers from various individuals) rather than individually.
Condition for transfer :
- UUCB shall not be liable for any incomplete information provided by the User while transferring funds through online NEFT/RTGS using .
- All payment instructions should be carefully checked by the remitter. As crediting the proceeds of the remittance is based on the beneficiary?? account number, the name of the other bank and its branch. UUCB shall not be responsible if these particulars are not provide correctly by the remitter.
- Application / Message received after the business hours will be sent on the immediate next working day.
- UUCB shall not be responsible for any delay in processing of the payment due to RBI RTGS system not being available / failure of internal Communication system at the recipient bank / branch / incorrect information provide by the remitter / Any incorrect credit accorded by the recipient bank / branch due to incorrect information provide by the remitter.