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National Electronic Funds Transfer
 
 National Electronic Funds Transfer


National Electronic Funds Transfer (NEFT - On line Funds Transfer to other banks)  Called AB Xpress

 
What is NEFT?


National Electronic Funds Transfer (NEFT) is a funds transfer mechanism where transfer of money takes place from one bank to another on the same day . In other words, this is an electronic payment processing environment wherein transactions are settled as soon as they are processed.

 
  Who can avail this facility


Only customers of the branch where they are having Savings/Current Accounts

 
  In what way it is beneficial to the Customers


Customer can remit funds to the account of another bank branch
The funds are transferred instantaneously at nominal charges

 
  Min Amount for Transfer


Rs.1

 
 Max Amount for Transfer


No Limit

 
 Charges

NIL
 
 What the customer must have for remittance


IFSC of the bank branch to which the remittance to be made (IFSC is 11 characters code)
Beneficiary account number, Name and Address (to whom the remittance is intended to )
Approach the branch with the above details

 
 How to get the IFSC of the branch
  • It is available on the cheque leaf supplied by the bank
  • Can also get from the branch
 
 What is the time frame for reaching the funds at the other end


Within 2 hrs of remittance on the same day

 
Cut off time for remittance through NEFT


Monday to Friday :  0800 hrs to 1845 hrs
Saturday               :  0800 hrs to 1245 hrs
NEFT works on all days except on Sundays and National Holidays

 
Importance Account Number


Outward :
While remitting the funds, Account Number of the beneficiary is to be mentioned correctly in the voucher (to whom the remittance is intended to ).
Inward : While seeking remittance from other bank Customers it is mandatory to quote your 15 Digit Finacle Account Number compulsorily.

 
Helpline


For further details and redressal of NEFT complaints, please contact at following address:
Andhra Bank, Service Centre,
11, Homi Modi Street, Bansilal Building
Fort, MUMBAI 400 001
Phone : 022-22610228/22610106
email: neftcell@andhrabank.co.in

 
Click here for NEFT enabled branches

Click here for NEFT Customer Facilitation Centers for rederessal of NEFT Complaints

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News & Events

Waiver of processing charges in Housing Loans, Car Loans, Two wheeler loans, Consumer durables, Clean Loans for the festive season from 25.09.2014 to 31.12.2014

The existing customer grievance redressal mechanism would also cover the complaints relating to outsourcing

Use your Visa Debit Card for shopping in POS/Online within 3 months of card issuance & get 5% Cash back. Offer applicable to cards issued after December 2013,T&C Apply

AS A PART OF RISK MITIGATION MEASURE, DEBIT CARDS ISSUED AFTER 30-11-2013 ARE ENABLED FOR DOMESTIC TXNS ONLY. FOR FURTHER DETAILS PLEASE CONTACT OUR BRANCH.

You can now donate to Shri Saibaba Sansthan Trust, Shirdi through IMPS-Mobile Banking.

Presentation to Analysts

Our Total Income during 12M of FY’12-13 increased to Rs. 13,957 Crore, recording a growth of 14.4%.

Form 15G/15H has to be submitted afresh at the beginning of each financial year to avail exemption/concession in TDS. Quoting of PAN is mandatory for availing such exemptions/concessions.

All our Banks’ cheques are “payable at par henceforth. We request all our customers to surrender their old cheque books at their account branch and obtain CTS 2010 Standard Cheque books immediately.

We request all our customers who have issued postdated cheques for repayment of loan installments for loans availed by them to replace the old PDCs with new CTS 2010 Standard cheques.

Online Grievance Redressal System with Tracking

Online Applications for MSME and Retail Loans

Online Donations to charitable institutions through net banking

Online resetting of Internet Banking Login Password

Interbank transfer of Funds through Mobile Banking using IFSC code

As per RBI mandate, cash retraction facility is discontinued from our ATMs. Do not forget to collect cash before leaving ATM room.

Any customer could walk in to deposit money in any branch of the bank if the account is in any other branch of the bank to which he wants to deposit the money and there will be no charges on this for any amount

Fictitious Offers of Cheap funds from abroad - Awareness Campaign - List of Nodal Agency (Cyber Crime Cell / Economic Offence Wing)

Complain to Local Police/Cyber Crime Authorities against Fictitious Offers of Money from Abroad

PPF and SCSS schemes

Do Not fall Prey to Fictitious Offers of Funds Transfer

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