NEFT / RTGS

RTGS Fund Transfer

Our National Electronic Fund Transfer Service

Learn more about the latest technology oriented service being provided by PALAKKAD DISTRICT CO-OP BANK LTD viz. RTGS. PALAKKAD DISTRICT CO-OP BANK LTD was one of the earliest adopters of RTGS facility in India and currently all our branches are RTGS enabled.

NEFT Fund Transfer

Our neft fund transfer services

Like RTGS, the NEFT Service is useful for the seamless transfer of funds from one branch to another without any delay or procedural hassle. The operations and functions of the system are similar to RTGS.

RTGS IFSC MICR Codes

know our rtgs / neft / micr branch codes

Learn more about the MICR / IFSC / RTGS Codes of all our branch’s to enable quick and smooth same day inter bank fund transfers from any bank offering RTGS fund transfer to any branch network of PALAKKAD DISTRICT CO-OP BANK Ltd.

M-Banking

complete banking experience on your…

This service enables fund transfer facility round the clock (24 x 7 x 365). The scheme facilitates the convenience of fund transfer to other bank accounts even on holidays by using Interbank Mobile

Processing Charges

competitive proposal processing charges.

PALAKKAD DISTRICT CO-OP BANK LTD charges a very low fee for proposal processing. Learn more about the complete schedule of proposal processing charges.

Service Charges

Our schedule of low service charges

Find below the exhaustive and complete schedule of all the fees and charges chargeable for the various services offered applicable which is subject to change from time to time. Apart from these charges, service tax on the.

RTGS Fund Transfer

Our Real Time Gross settlement services

Learn more about the Real Time Gross Settlement Service from PALAKKAD DISTRICT CO-OP BANK LTD.

PALAKKAD DISTRICT CO-OP BANK LTD was one of the earliest adopters of RTGS facility in India and currently all our branches are RTGS enabled. Under this system funds can be transferred between two RTGS enabled bank branches irrespective of the bank and the location of the branch.

Do reach beneficiaries immediately!!

PALAKKAD DISTRICT CO-OP BANK Ltd has implemented ANY BANK / BRANCH Money Transfer facility to its customers with RTGS payment mode on MARCH 2014. Using this facility, one can receive / send payment from/to any other bank immediately who is a member of RTGS, located across the country. Every branch of our bank has a distinctive RTGS Code and the same can be seen in the RTGS / NEFT / IFSC / MICR Codes page.

RTGS facilitates quick funds transfer and settlement among the banks, for both Inter bank and Customer transactions. It reduces the settlement risk, as payments are made online. This system is very much helpful not only for banks but also for customers, as payment / receipt is adjusted on the same day on real time basis.

In RTGS, Gross Settlement takes place continuously between 10.00 AM to 3.30 PM and return time is allowed within one and a half hours from the time of receipt of payment.

Presently, in India, 120 Banks have started RTGS transactions with more than 62258 branches. On MARCH,2014, PALAKKAD DISTRICT CO-OP BANK LTD started this facility with 42 of its branches. The scheme has been receiving good response from the public and the number of transactions through RTGS is on the increasing trend. So PALAKKAD DISTRICT CO-OP BANK LTD decided to have 100% RTGS status for customer transactions and to enable all its branches under RTGS from MARCH,2014. PALAKKAD DISTRICT CO-OP BANK LTD is the First Bank in KERALA to have 100% RTGS enabled branches.

Through RTGS one can send / receive payments across the country to / from any bank / any branch provided sending bank as well as receiving bank are members of RTGS and their branches are RTGS enabled with IFSC Code.

RTGS Outward Charges:
  • Rs. 2 Lakhs to Less Than Rs. 5 Lakhs: Rs. 25 per transaction plus time varying tariff as below.
  • Above Rs. 5 Lakhs: Rs. 50 per transaction plus time varying tariff as below.

RTGS Inward Charges:

Free.

RTGS / NEFT Customer Facilitation Centre:

Our Bank’s Customer Facilitation Centre for RTGS / NEFT is functioning in the below mentioned address:

NEFT Fund Transfer

Our NEFT fund transfer services

Learn more about the National Electronic Fund Transfer Service from PALAKKAD DISTRICT CO-OP BANK LTD (PALAKKAD DISTRICT CO-OP BANK LTD e-Transfer).

Like RTGS, the NEFT Service is useful for the seamless transfer of funds from one branch to another without any delay or procedural hassle. The operations and functions of the system are similar to RTGS. We have become active member of NEFT system and introduced a new product called PALAKKAD DISTRICT CO-OP BANK LTD e-Transfer (NEFT).

Do reach beneficiaries on same day!!

NEFT is the most suitable mode of payment for small value payments as the charges are cheaper and settlement is faster compared to other modes of payment. RBI has introduced NEFT system mainly to send small value payments at nominal cost. We can send funds from our bank to other bank, which is a part of NEFT network. So far, 89 banks have joined in this system and more than 55225 of their branches are under this network. More banks are expected to join in the days to come.

In NEFT, there are 7 hourly settlements (10 am to 5 pm) for a day. In order to complete the processing cycle on a near real-time basis, RBI has introduced the concept of return within 2 hours of completion of a batch. The payment instructions received by RBI within each settlement batch will be consolidated and distributed to payee’s bank after each settlement. Normally, payment transaction messages reach the receiving (beneficiary) bank within 15 to 30 minutes from the batch time. Banks are hard pressed to afford credit to beneficiary accounts immediately or else return the transactions within two hours of completion of the batch settlement.

For e.g.: A payment instruction sent to RBI for 12.00 clock settlement batch, may reach the beneficiary bank by 12.30 P.M. If the beneficiary bank has STP (Straight Through process) facility, the amount will be credited immediately. In case, if the beneficiary bank wants to return the transaction for any reason, they should return the same within 2 PM batch on the same day.

In order to encourage small value payments through NEFT, we have fixed nominal charges only. There is no minimum as well as maximum transfer amount limit. There are no charges for inward payments.

NEFT Outward Charges:
  • Upto Rs. 10 Thousand: Rs. 2.50 per transaction plus service tax applicable .
  • Less than Rs. 1 Lakh: Rs. 5 per transaction plus service tax applicable .
  • Rs. 1 Lakh to Rs. 2 Lakhs: Rs. 15 per transaction plus service tax applicable .
  • Above Rs. 2 Lakhs: Rs. 25 per transaction plus  service tax applicable .
  • Above  Rs.5 Lakhs : Rs.50 per transaction plus  service tax applicable .
NEFT Inward Charges:

Free of charge.

Customer Facilitation Service:

In order to resolve the complaints received from customers, we are having our Customer Facilitation Center at the following address:

Learn more about the RTGS (IFSC) / NEFT (IFSC) / MICR Codes of all our branches to enable quick and smooth same day inter bank fund transfers from any bank offering RTGS fund transfer to any branch network of PALAKKAD DISTRICT CO-OP BANK Ltd anywhere in India.

Please contact our nearest branch to learn more this facility.

If you do not find your branch listed in the above table, please contact the nearest branch for current upto date list of IFSC Codes of all the branches.

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