RTGS in full form is a real-time gross settlement. However, in this case, I will cover up Utkash bank’s RTGS form download link along with some details, how to fill it up. Utkarsh is a small finance bank.
RTGS is a form of electronic fund transfer, it incorporated with banks at the end of the year 2005. It is a method that completes after 5-6 hours depending on the bank, they batch all the transactions done between this time frame to be made to other banks.
Banks do have this feature till now to avoid any confusion for the previous users who have passed their generation using this.
What is the maximum beneficiary adding time ?
The maximum time can take depends upon the banks terms and conditions to get it approved all differs in net-banking and other methods.
Note – Adding up beneficiary can take a day utmost to process as to safeguard the user account from being hacked. This is a security measure followed by the bank and is digitally automatic.
What are the RTGS time limits ?
- Mobile Banking – 8 am to 7 pm
- Branch – 9:30 am to 4:30 pm
- Net-banking – 8 am to 7 pm
Prices set on RTGS transfers
In Utkarsh there are no fees for the Inward RTGS in both the business standard and business premium. But the business standard has fees to be paid i.e
- Rs 2 lakh to 5 lakh – Rs 25 /-
- Above 5 lakh – Rs 50 /-
The charges paid are due to the manpower and the labor used in this transfer at the bank. The prices mentioned above are except taxes. And again it’s free for business premium users.
What are the restrictions to be followed to send fund ?
However, there is no mentioned restriction but a user needs to send at least 2 lakh on a single transfer to process the request. Banks need some time to verify the beneficiary added to check it’s authenticity.
Things required for filling up form fields
These details can be found here of the sender (your) in Remitter such as –
- Passbook – For the name, account number, phone number, Email-Id, address of the sender and the remarks, for why the balance is being transferred for future.
The details to the taken from the receiver to send the desired amount.
- Beneficiary name
- Beneficiary account number
- Beneficiary address
- Beneficiary bank name and branch
- Beneficiary ifsc can be found here too.
How to fill the complete form ?
After getting the form there can be many complications for a new RTGS user for the first time. Such complications might include false input in the text fields and might result into wrong transfer.
- Like the first option that has two checkboxes of RTGS/NEFT here tick the RTGS if you want to proceed with this.
- The next field tells you to enter the cheque number that you have issued and the amount mentioned on the cheque. Along-with you must mention the payee on the cheque as “Utkarsh Small Finance Bank Ltd. – RTGS” and mention “Utkarsh Small Finance Bank Ltd. – NEFT“
- Next, Add the (receiver)beneficiary name, account number twice on the two fields, address, bank’s name, and the branch, IFSC code, and mention whether the person is resident or non-resident, Amount in figures means in number eg – 1000 and the amount in words eg – one thousand.
- Next, My / Our Details (Remitter) in this section the sender’s details are required such as Remitter’s name (sender’s name on the bank), account number (sender’s account number from which the amount needs to be transferred), Cash deposited, phone number and email Id(i.e on account), Address (sender’s address), and the remarks on why are you sending this amount.
- All other details like branch only details are filled by them.