YES Bank is the most popular bank in India since it started its operations from the year 2004. It is a fully private company regulated by RBI.
Have you decided to transfer the remaining amount to another account?
Because of the fact that you are afraid of the bank shuts down without any notice so don’t worry but I will surely teach you how to fill the form. Do let me know in the comments.
As per the RBI, the timing is between 7 am to 6 pm for the RTGS transfer method. And for NEFT the timing is 8 am to 7 pm.
–Download the form
What is the maximum beneficiary adding time for NEFT and RTGS ?
Nowadays, the RTGS which is the oldest method to transfer funds to other accounts and adding the beneficiary could take 30 minutes but the transaction could only be done after the 24 hour time. And in case of NEFT takes 1 calender to as a total to add a beneficiary.
Between the 6 am and 8 pm, the beneficiary could be added within 4 hours and after the time period it will be processed, the next day. But only when the process is done online will take hours.
What are the RTGS/NEFT time limits ?
The time limit for RTGS is the same for all banks as stated by RBI but is not a 24-hour service. But RBI also mentioned that the service may vary from bank to bank.
From RBI’s end, the time is limit is between 7 am to 6 pm. According to paisabazaar the timing is from 10:30 to 3:30. And for NEFT, the time limit is also up to 3:30 pm.
The RTGS is only available expect the saturday, sunday and bank holiday. But for the NEFT/IMPS it’s 24 hour service available for online users.
Prices set on RTGS transfers
The charges set for RTGS transfers that are listed below are for branch and as per transaction –
- RTGS transactions above 2 lacs and up to 5 lacs cost Rs 25
- And RTGS transactions above 5 lacs cost Rs 50
And for RTGS payments are free for net-banking and mobile banking users.
Next, the charges set ranges and charge different and also stated per transaction.
- Upto Rs 10,000 cost Rs 2.5
- Between Rs 10,001 to Rs 1 lac cost Rs 5
- From Rs 1,00,001 to Rs 2 lac cost Rs 15
- And lastly above Rs 2 lac cost Rs 25
And the NEFT transactions are also free for net-banking or mobile banking customers.
What are the restrictions to be followed to send fund ?
There aren’t any restrictions for transferring funds but on RTGS the minimum balance that needs to be sent is Rs 2 lac. However, there aren’t any restrictions for upper limit transfers for yes bank and shouldn’t be for other banks too as per RBI’s guidelines.
Too good to know, that there isn’t any minimum limit to transfer using NEFT. But with a maximum limit of up to 25 lacs per day per transaction.
There is an addition of a fact that for Non-Yes bank customers the NEFT transactions are limited up to Rs 50,000.
Things required for filling up form fields
The required documents are listed as per for receiver and remitter –
The remitter details (the sender)
- Phone number
The beneficiary details (the receiver)
- Account number and name
- Bank and branch name
- Phone number
How to fill the complete form ?
Note the two types of forms are included in this article at last for all individuals along with a preview but in this section, I will discuss how to fill the form in detail so stay tuned.
Also, note that all the details must be filled in capital letters.
First, for the remitter the details to be filled and the above details are simple you can fill from your bank passbook
- PAN card – The 16 digit pan card number should be filled in this field. Then tick any of the boxes that satisfy your account type.
- The sender’s full name can be found in your passbook.
- The same goes for the account number and only fills the next Cash deposited which is only if you re sending funds to non-customers of yes bank in case of NEFT.
- Cheque should be filled if paid using cheque and also tick that cheque option for this.
- The address can be filled or can be ignored if the remitter is a yes-bank customer or else yes.
- Next, enter the 10 digit phone number and the pin code of remitter’s location.
Now, the beneficiary’s details to be filled that is the receiver information.
- The beneficiary name and account number must be typed twice so that to avoid any wrong account transfer. I have an article on how to avoid account transfer mistakes ? do check out!
- The beneficiary’s bank name is compulsory but the branch name and address are optional.
- Tick the account type the receiver has everything has been done from banksforyou to facilitate your input.
- The next part is to get the IFSC code and that can also be found here.
- The purpose, message, and phone number are optional so can be ignored.
Actually the fillable form is only set for customers so that the required fields and the optional fields could be filled.
And the other details can be filled after printed like the signature and the office use only.