What is RTGS?

Real Time Gross Settlement System (RTGS) is a funds transfer mechanism where transfer of money takes place from one bank to another  on a real time basis. 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 RTGS enabled bank branch
The funds are transferred instantaneously at nominal charges

Min Amount for Transfer

Max Amount for Transfer

Rs.1,00,000

No Limit

Charges

Not exceeding Rs.25 per transaction for remittance up to Rs.5 lakhs
Not exceeding Rs.50 per transaction for remittance Rs.5 lakhs and above

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

Instantaneous

Cut off time for remittance through RTGS

Monday to Friday : 0900 hrs to 1630 hrs
Saturday            :  0900 hrs to 1330 hrs
RTGS works on all days except on Sundays and National Holidays

Important -
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 please contact or your account branch
1.  Andhra Bank, RTGS branch
     8 – F Maker Towers, Cuffee Parade,
     MUMBAI – 400 023
     Phone : 022-22168047
     email: bmmum1250@andhrabank.co.in