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  #1  
25th April 2016, 03:22 PM
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Pnb neft

First of all my question form you is what is NEFT and does Punjab National Bank offers NEFT facility what are its operating hours
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  #2  
25th April 2016, 03:22 PM
Super Moderator
 
Join Date: May 2012
Re: Pnb neft

NEFT stands for ‘National Electronic Funds Transfer’. NEFT system is a nation wide funds transfer system to facilitate transfer of funds from any bank branch to any other bank branch. And PNB offers NEFT facility

Presently, NEFT operates in hourly batches - there are twelve settlements from 8 am to 7 pm on week days and six settlements from 8 am to 1 pm on Saturdays.

NEFT system gets operate by following ways please fell free to have a look on them

Step-1: The remitter fills in the NEFT Application from giving the particulars of the beneficiary (like, name of the beneficiary, name of the bank branch where the beneficiary has an account, IFSC of the beneficiary bank branch, account type and account number) and authorizes the branch to remit the specified amount to the beneficiary

Customers enjoying net banking facility offered by PNB bank can initiate the funds transfer request online. Walk-in customers will, however, have to give their contact details (complete address and telephone number, etc.) to the branch.

Step-2: The remitting branch prepares a Structure Financial Messaging Solution (SFMS) message and sends it to its Service Centre for NEFT.

Step-3: The Service centre forwards the same to the local RBI (National Clearing Cell, Mumbai) to be included for the next available settlement.

Step-4: The RBI at the clearing Centre sorts the transactions bank-wise and prepares accounting entries of net debit or credit for passing on to the banks participating in the system.

Thereafter, bank-wise remittance messages are forwarded to banks through their service centre for NEFT.

Step-5: The receiving banks process the inward remittance messages received from RBI and affect the credit to the beneficiary accounts.

Transaction Amount Charges
Upto Rs.10000/- Rs. 2.50 + Service Tax
Above Rs10,000/- to Rs.1,00,000/- Rs.5.00 + Service Tax
Above Rs.1,00,000/- to Rs.2,00,000/- Rs. 15.00 + Service Tax
Above Rs.2,00,000/- Rs.25.00 + Service Tax

Help Desk

The user can contact the nearest Branch and/or approach NEFT Help Desk as under:-
Punjab National Bank
RTGS – NEFT Cell
First Floor, PNB House
Sir P M Road, Fort
Mumbai - 400 001
NEFT:
Tel: 022-22627511/0120-2490392/0120-2490394
Email:neft@pnb.co.in


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