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| National Electronic Funds Transfer |
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 National Electronic Funds Transfer |
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National Electronic Funds Transfer (NEFT - On line Funds Transfer to other banks) Called AB Xpress
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| What is NEFT? |
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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.
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| Who can avail this facility |
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Customers of the branch where they are having Savings/Current Accounts
Walking customers for below Rs. 50,000.
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| In what way it is beneficial to the Customers |
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Customer can remit funds to the account of another bank branch
The funds are transferred instantaneously at nominal charges
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| Min Amount for Transfer |
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Rs.1
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| Max Amount for Transfer |
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No Limit
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| Charges |
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Outward Transactions NEFT |
AMOUNT |
SAVINGS BANK ACCOUNT HOLDERS |
OTHERS (Both A/c holders and Non-A/c holders)
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ON-LINE TRANSFERS
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OTHER TRANSFERS
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ON-LINE TRANSFERS
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OTHER TRANSFERS
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Up to Rs. 2,500/- |
NIL |
Rs.2.00 Plus GST |
NIL |
Rs.2.00 Plus GST |
Above 2,500/- to Rs. 10,000/- |
NIL |
Rs.2.00 Plus GST |
Rs.2.00 Plus GST |
Rs.2.00 Plus GST |
Above Rs.10,000/- to Rs.1 Lakh |
NIL |
Rs.4.50 Plus GST |
Rs.4.50 Plus GST |
Rs.4.50 Plus GST |
Above Rs.1 Lakh to Rs.2 Lakhs |
NIL |
Rs.14.50 Plus GST |
Rs.14.50 Plus GST |
Rs.14.50 Plus GST |
Above Rs.2 Lakhs |
NIL |
Rs.25.00 Plus GST |
Rs.25.00 Plus GST |
Rs.25.00 Plus GST |
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| What the customer must have for remittance |
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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
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| How to get the IFSC of the branch |
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- It is available on the cheque leaf supplied by the bank
- Can also get from the branch
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| What is the time frame for reaching the funds at the other end |
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Within 2 hrs of remittance on the same day
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| Cut off time for remittance through NEFT |
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Monday to Saturday : 08:00 hrs to 19:00 hrs
NEFT works on all days except on 2nd & 4th Saturday of the month, Sundays and National Holidays
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| Importance Account Number |
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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.
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| Helpline |
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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
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