Oriental Bank Of Commerce Fund Transfer

I want to get the details of National Electronic Funds Transfer (NEFT) of Oriental Bank Of Commerce so can you provide me?

[Kiran Chandar]

Oriental Bank of Commerce is an India-based bank established in Lahore. The bank was established on 19 February 1943. It is one of the public sector banks in India.

National Electronic Funds Transfer (NEFT)

Reserve Bank of India has introduced a system called National Electronic Funds Transfer, for participating banks and institutions with the required system of computer and communication network through which funds transfer operation would take place.

The objectives of the NEFT System are:

To establish an Electronic Funds Transfer System to facilitate an efficient, Secure, economical, reliable and expeditious system of funds transfer and Clearing in the banking sector throughout India, and

To relieve the stress on the existing paper based funds transfer and clearing system.

Eligibility Criteria For Customer Transactions

Fund Transfer through NEFT can be availed by the customers who maintain their operative accounts viz., Savings Bank, Current Account.

This facility can also be allowed to CC / OD account etc., subject to ensuring end use of funds.

Outward / Inward remittance facility under NEFT is offered to the customers of all their CBS branches.

This facility is extended to Walk -in Customers.

This facility is available to Walk- in customers against cash payment upto Rs.50,000/-

Outward NEFT (N06) facility will not be available for first 7 days in any account of new customer.

Outward NEFT from any branch other than the parent/base/ home branch shall not be allowed.

Batch Timings-

Twelve hourly settlements are carried out during the day by RBI, starting from 8 am to 7 pm from Monday to Saturday (except second and fourth saturday)

Charges-
No Charges Prescribed for Inward NEFT.

For Outward Transactions-

Up to Rs.1 lakh -NIL

Above Rs.1 lakh to Rs.2 lakhs - Rs.10 (Plus Service Tax)per transaction.

Above Rs.2 lakhs - Rs.25 (Plus Service tax)per transaction

Customer Service Help Desk for NEFT

A dedicated Help Desk for handling NEFT related issues has been set up by the bank at the following address.

Oriental Bank Of Commerce
2nd Floor, Aman Chamber,
Opp New passport Office,
Veer Savarkar Marg,
Prabhadevi, Mumbai-400025

Telephone - Direct NEFT - 022-43434690 , 022-43434691

FAX- 022-24370863

Email -neft@obc.co.in.