Methods to Transfer Money Online

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Methods to Transfer Money Online

With the advancement of technology, almost every task is now available online. People, nowadays, get barely any leisure time to work on other things, besides their daily routine works. Hence, they prefer to use online means to transfer funds. There are several ways to transfer funds online:

National Electronic Funds Transfer (NEFT) is a unique payment method where transactions can only be processed between banks offering NEFT-compatible services. To transfer funds via NEFT, you must add the beneficiaries to the online banking portal of your bank. Moreover, the number of transactions using the NEFT method is unlimited.

Real-Time Gross Settlement
Real-Time Gross Settlement (RTGS) is a system of money transfer from bank account to bank account in real-time and with the gross settlement. High-value transactions can be made via RTGS in both online and offline mode, processed individually, and can be executed anytime, any day of the year.

Immediate Payment Service
Immediate Payment Service or IMPS is another method that allows users to transfer funds from one bank to another instantly. The daily maximum limit of IMPS transactions is Rs. 1 Lakh, plus collecting additional service fees by providing 24 * 7 interbank money transfer services.

Unified Payment Interface (UPI) is an in-demand method of mobile payment that enables you to transfer funds from one bank account to another instantly and for free. Money transfer via UPI requires each user to have a UPI ID, i.e., unique identification of a 4-digit personal identification number of your choice, for a bank account used to transfer and receive funds.

Domestic Money Transfer
DMT or Domestic Money Transfer is the easiest way to transfer funds from one bank account to another instantly and for free. Zambo provides the DMT services, wherein you require each user to have the mobile number to whom he wants to transfer Money. Besides, filling in the details, adding beneficiary details- A/c number, IFSC number, Enter Amount, Select Mode of Payment, Send Money is required.

Online ways are more preferred, considering it the most effective and convenient method of transferring funds. To transfer funds online, visit now.

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