ECS functions as a system that allows electronic credit and debit transactions from your account at regular intervals. While this may seem similar to the offerings of NACH, there are some major differences between the two:   NACH ECS NACH is an automated and web-based process ECS involv.....

Now that you know the meaning of the ACH mandate, understand the two types of ACH transfers: 1. ACH Credit In this type of money transfer, money is transferred from the payer’s bank account to the receiver’s bank account. Under ACH credit transactions, the money is transferred into the account. .....

ECS NACH mandate charges vary across different banks. Along with ECS sign verification charges, not having an adequate balance will be chargeable. Simply put, additional charges will be levied if your ECS transactions fail due to a low account balance. ECS mandate charges of some banks are mentio.....

Now that you know how to cancel the NACH mandate, here are some guidelines: Verify your identity by using a login ID and password, an OTP, and other information View a list of registered mandates for your customer ID  You can select which mandates you want to cancel, but cancellation re.....

If you want to change/reset your ATM card PIN, the process is simple and can be completed both online and offline. Here are the steps to change ATM PIN through various modes: How to Change your ATM PIN Online  You can change or reset your PIN online by visiting the bank’s website and followi.....

ACH mandates and transfers have made the process of transfers and transactions easier and more convenient. Moreover, making transfers through ACH does not typically hold any charges. However, the ACH mandate charges may be included depending on the bank. It is always best to check with the bank rega.....

It is important to take certain precautions to ensure the safety of your money and personal information.    Here are some precautions you should take when using these transfer systems: Verify the Recipient's Details Before initiating a transfer, make sure you have the correct bank account .....

Some of the popular banks that offer KYC services include the State Bank of India (SBI), Axis Bank, HDFC Bank, RBL Bank, etc. You can opt for offline or online KYC services as per your convenience. If you wish to go digital, you can even avail eKYC services offered by these banks.

HDFC Bank RTGS Charges Transaction Type Amount RTGS Transaction Charges Online RTGS Transactions No limit No online RTGS charges RTGS transactions at branches ₹2 lakh to ₹5 lakh ₹25 + GST Above ₹5 lakh ₹50 + GST Axis Bank RTGS Charges Transaction Type .....

IMPS IMPS Fees & Charges IMPS Limit IMPS Timings IMPS Transfer NEFT vs RTGS vs IMPS NEFT Fees & Charges NEFT Limit NEFT Transfer RTGS Transfer RTGS RTGS Fees & Charges RTGS Limit RTGS Timings Kisan Credit Card Customer Care NACH Mandate NACH Mandate .....

Despite the transaction being initiated within the specified bank timings, in some cases, the RTGS transaction may fail to be processed and could get cancelled. This may occur for a variety of reasons, such as incorrect beneficiary account details, frozen account, wrong IFSC code entered, etc. The m.....

KYC compliance is of paramount importance for various reasons, ensuring the integrity and security of financial transactions.    Here's why being KYC compliant is crucial: Legal Requirement: KYC compliance is often mandated by financial regulatory authorities, making it a legal obligation. F.....

There's ample flexibility in ECS and it can be cancelled anytime the user wants, irrespective of the reason. The bank as well as the payment beneficiary need to be informed well in advance through a written application before you terminate ECS. The application needs to be submitted at least a week b.....

The RTGS minimum and maximum limits vary from bank to bank. Therefore, it is wise to check the offline and online RTGS limit with your bank before initiating a transaction. 1) HDFC Bank RTGS Transaction Limit Minimum ₹2 lakh RTGS online limit As per your set Third-Party Funds Transfer.....

The NACH and ECS difference stands out especially when it comes to dispute management and the time taken for settlement. In addition, the amount of paperwork and rejection rate also differentiate NACH from ECS. To summarize, let us have a brief look into the difference between ECS and NACH.  Nati.....

The Immediate Payment Service charges or IMPS charges are levied by banks for the instant transfer of funds from one bank account to another. Depending on the bank you have an account with, the following charges are typically applicable for IMPS transactions:  ₹2.5 + GST - Transactions up to ₹10,.....

In case you do not have a PAN card, you may face the following consequences, depending on your total earnings and taxable income.  TDS on salary will be deducted at 20% if you do not provide your PAN card number (provided your income is above the basic exemption limit). You will not be able to.....

More About Payments & Other Credit Cards IMPS Fees & Charges IMPS Limit IMPS Timings IMPS Transfer NEFT vs RTGS vs IMPS NEFT NEFT Fees & Charges NEFT Limit Kisan Credit Card Customer Care NEFT Transfer RTGS RTGS Fees & Charges RTGS Limit RTGS Timings RT.....

The NEFT bank charges may vary depending on where you have opened your savings account. Here are the charges levied by a few banks: Bank NEFT Charges (Minimum) NEFT Charges (Maximum) State Bank of India (SBI) ₹2 + GST ₹20 + GST HDFC Bank ₹2 + Applicable GST ₹10 + Applicabl.....

More About Payments & Other Credit Cards IMPS IMPS Fees & Charges IMPS Limit IMPS Timings IMPS Transfer NEFT NEFT Fees & Charges NEFT Limit NEFT Transfer RTGS Transfer NEFT vs RTGS vs IMPS RTGS Fees & Charges RTGS Limit RTGS Timings Kisan Credit Card Cu.....

While cash withdrawal at an ATM is simple, there are a few things you must keep in mind: Ensure that you are alone when withdrawing money from an ATM using your card. Do not disclose your debit card/credit card PIN to anyone. The amount to be withdrawn must not exceed the availabl.....

Know how to cancel an ACH payment or how to cancel ACH transfer seamlessly by keeping yourself updated regarding the cancellation or transfer to avoid any further hardships. ACH is the most reliable and safest mode of payment system. It is the most convenient as the fund is directly debited from you.....

The Reserve Bank of India (RBI) has set no maximum limit on NEFT transactions, and the minimum amount can go as low as ₹1. However, banks have the discretion to change and set the limit as per their policies and with the approval of their board.   Given below is an overview of the minimum and maxi.....

As per the set guidelines, there is no minimum limit on IMPS transfers. However, there is a maximum transfer limit via IMPS that varies from one bank to another. Here are the IMPS transfer limits of some leading banks. 1. HDFC Bank IMPS Fund Transfer Limit IMPS Money Transfer Limit Using Account N.....

Here are the banks that provide NACH services: Bank NACH Service Status Form Download State Bank of India Allows NACH services Yes Citi Bank Allows NACH services Yes HDFC Allows NACH services Yes ICICI Allows NACH services Yes NACH mandate form P.....

Here are the major banks that provide ECS services: Bank ECS Service Status Form Download State Bank of India Allows ECS services Yes Citi Bank Allows ECS services Yes HDFC Allows ECS services Yes ICICI Allows ECS services Yes Axis Bank Allows ECS s.....

IMPS transfer timings of each bank differ slightly based on individual banks' rules, regulations, and management. Here is a list of banks and their IMPS Payment details like IMPS transfer times, charges, and IMPS transaction limits. 1. Axis Bank IMPS Timings Axis provides 24*7 IMPS transactions .....

Before you start using your card, you must activate it. Luckily, there are several ways of doing so: i) Activate Card via Net Banking Account You can activate your card by logging into your net banking account and selecting the ‘ATM card activation’ option available under ‘Card Services’. ii) V.....

The common challenges associated with each KYC type is mentioned below: 1. Challenges of Paper KYC This type of KYC faces the challenge of inefficiency and operational delays due to the manual nature of document verification. In addition to this, financial institutions have to bear the cost of saf.....

There are several instances during which the ACH mandate can be rejected. Here are some of them. You ACH mandate can be rejected if: Your transaction is invalid. You have insufficient funds. The account number or your CVV does not match. Your card is expired. You exceed the activity.....

Below mentioned are some useful mobile banking tips that can enhance a user’s mobile banking experience: Update your mobile banking password at regular intervals Make sure your mobile banking password is not shared with anyone else Set a mobile alert that sends out notifications each time y.....

You can apply for an e-KYC by following a few simple steps given below. Step 1: Visit the official website of any KYC Registration Agency, bank, or fund house that offers the service. Step 2: Fill out the application form and choose among the OTP, biometric, and offline paperless KYC methods t.....

Registration for SMS Mobile Banking is a one-step process that can be easily done via any of the following ways: Activate the services by sending a request via SMS/calling on the respective bank’s phone banking number Registering by visiting your home branch Activate the services via cred.....

Banks provide various customer query resolution setups for issues related to RTGS transfers. Some of the options that you can utilise for your issues with RTGS transactions are: Customer care helpline number SMS service Chatbots Email services   Alternatively, you can also visit .....

As part of their KYC verification process, banks and other financial institutions typically require their customers to provide a cancelled cheque at the time of registration. A cancelled cheque, especially when it is not cancelled properly, can be misused.    You should never sign a cheque that .....

The differences between OTP, TOTP, and Static passwords are mentioned below- OTP TOTP Static OTP stands for one-time password TOTP stands for time-based one-time password (TOTP) Static refers to passwords that remain the same for multiple login sessions Temporary Temporary .....

Currently, all scheduled commercial banks, including both public sector banks and private banking institutions, provide ACH services. Even small finance banks and cooperative banks offer this facility. As per the National Payments Corporation of India (NPCI), who operates the NACH facility in the co.....

At any point in time, post initiating money transfer through NEFT, you can track the NEFT transfer status by contacting your bank’s NEFT Customer Facilitation Centre (CFC). The beneficiary too can track the NEFT payment status by contacting their bank’s CFC. However, do note that you would need to p.....

To ensure that the customers availing the services are not involved in unethical financial transactions, banks and other financial institutions require you to submit certain documents. Presenting these documents is mandatory to establish your correct identity before making any transactions. The docu.....

Here are the crucial dos and don’ts of using credit card OTPs: Dos Don’ts Ensure that the website you’re submitting your OTP to is safe Do not answer emails that ask you for sensitive information Update your antivirus and firewall software Do not disclose your CVV, PIN, expiration .....

You can link multiple accounts to same mobile number In case you have more than one accounts with your bank or even with separate banks, you can link the IMPS facility for all your accounts to the same mobile number. However, please note that each account number will be assigned a separate MM.....

ATM cards allow you to easily withdraw cash from an ATM. You can also use the card to digitally pay for your purchases at both online portals and retail outlets. Against select expenses, you also get the option to earn reward points and enjoy special offers. They are backed by advanced security feat.....

Finance or HR teams may either send the salary slip via email to you or upload the same on a central salary slip portal. You can simply open the attachment, enter the password, and view the payslip if sent via email.    However, if it has been uploaded to a portal, you would need to follow certain.....

Here is a quick look at all the taxability details on the components of salary slip: Pay slip components Taxable/Non-Taxable Basic pay Fully Taxable Dearness Allowance Fully Taxable City Compensatory Allowance Fully Taxable Special Allowance Fully Taxable Conveyance .....

With your payslip, you can quickly find out the amount of taxable income that you have earned during a financial year. The components listed in an employee salary slip can be categorised into three types based on their taxability: fully exempt, partially taxable, and fully taxable.   Here is a qui.....

To speed up the KYC process in banks, the Electronic Know Your Customer/Client, i.e. eKYC, process was introduced. eKYC allows you to complete your bank KYC online. You are not required to submit hard copies of your documents as you would for paper-based KYC verification.    Your identity is ver.....

Most banking institutions, mutual fund houses and credit card issuers allow you to update your KYC details online. Here’s a brief overview of the process that you would have to follow.  Step 1: Log into your account and select the Update KYC option Step 2: Enter the information that you wish t.....

PAN is an acronym for Permanent Account Number and is a unique 10-digit alphanumeric string of characters issued by the government of India to every taxpayer. It is essential to pay taxes, file income tax returns, open an investment account under various government schemes and claim deductions there.....

If you have any queries about your PAN card, you can call the PAN card helpline number for the city you reside in. The phone numbers for the PAN card helpline in different branch offices are given in the table below. City or Branch Name PAN Card Helpline Number Mumbai head office Telep.....

If you already have a PAN card but only possess it in a physical format, you can apply for your e-PAN card using the steps outlined below.  Step 1: Visit the following link: https://www.onlineservices.nsdl.com/paam/ReprintDownloadEPan.html.  Step 2: Enter the details needed, such as your Pe.....

Contrary to popular opinion, you don’t have to visit the website of the Income Tax Department to apply for a PAN card. Instead, you can do it online through the UTI Infrastructure and Technology Services Limited (UTIITSL) website or the National Securities Depository Limited (NSDL).   Alternativ.....

The PAN card is an important document that serves as an identity proof and is also used to track financial transactions that you make. According to the Income Tax Department, the following list of entities can apply for a PAN card.  Individuals Companies  Trusts Association of Persons .....

There are several important points to know while applying for a duplicate or reprint PAN card. Continue reading to learn more about them. If your PAN card is lost or stolen, file an FIR and attach it with your submission documents. You can pay for the duplicate PAN card through DDs, net bank.....

The PAN and Aadhaar are two unique ways of identifying an individual. The government of India has mandated that all individuals possessing both PAN and Aadhaar link them both before the due date of 31st March, 2023. There are many reasons why this mandate has been enforced by the government. Here’s .....

Actions to Take if You Notice That Your PAN Card is Lost or Misplaced Many establishments in the country require a PAN Card as proof of identity, which makes it important to you on a daily basis. A lost PAN card can lead to problems and confusion, especially if you do not remember our Permanent Acc.....

Apart from the many uses of a PAN card, it is also considered to be a very important document that every individual must have. Issued by the Income Tax Department of India, it is essentially a laminated card that contains a host of important information. This includes the card holder’s Permanent Acc.....

Checking your PAN Card correction status is extremely easy, once you have received the 15-digit acknowledgement number post submission of the form. However, if you have filed the application through UTIITSL, you will require the application coupon number.    Follow the steps below to check the s.....

When conducting a PAN Card verification, you need to submit the following documents:  Authorisation letter and terms and conditions on the company’s letterhead Two signed copies of the entity’s PAN Card Two signed copies of the entity’s declaration Two signed copies of the incorporatio.....

Like the NSDL, the UTIITSL is also authorised to issue PAN cards in India. If you have any queries regarding your PAN, you can contact any UTIITSL branch office or pay a visit to a UTIITSL PAN card office near you. Check out the contact details below.  UTIITSL Branch Office in Ahmedabad .....

Once the minor reaches the age of 18, they can no longer make use of the minor PAN card issued in their name. Instead, they would have to convert it into a regular PAN card. The process that they would have to follow to do the same is listed below.  Step 1: Visit the Online PAN application websit.....

The Income Tax portal has a dedicated facility that you can use to quickly check and verify your PAN card information. Here are the steps that you need to follow: Visit the Income Tax portal  Go to ‘Quick Links’ and click on ‘Verify Your PAN’  Type in the required details (PAN, your full na.....

You must provide certain documents with Form 49A  as you apply for a PAN Card. These consist of the following: Proof of identity  Pensioner card (with the photo of the applicant)  Any government-issued photo ID card Arm’s licence  Bank certificate  Driving licence  Passport  .....

A person or company is identified and connected to the appropriate tax legislation using one of the four fundamental categories of AO codes. Here is a brief rundown of them: International Taxation: It is for businesses or individuals requesting a PAN card who do not reside in India or have thei.....

You must be curious about how to download or check your instant pan card status now that you understand how to obtain one. You can do this with the aid of the subsequent steps. Step 1: Visit Income Tax India's official website. Click on the "Instant E-PAN" link listed under the ‘Quick Links’ sect.....

If you want to apply for a PAN card offline via NSDL, you need to follow the below steps: Step 1: Access the NSDL website by logging in. Step 2: Download Form 49A if you're an Indian citizen, or Form 49AA if you're a foreign citizen, by clicking "Apply Online" after that. Step 3: Carefull.....

The cost to apply for a UTI PAN card that must be sent to an Indian address is ₹110, while the cost to apply for a new PAN card that must be sent outside of India is ₹1020 (inclusive of the GST). Demand drafts, credit/debit cards, or net banking can all be used to pay fees.

More About Payments & Other Credit Cards IMPS IMPS Fees & Charges IMPS Limit IMPS Timings IMPS Transfer NEFT NEFT Fees & Charges NEFT Limit Kisan Credit Card Customer Care NEFT Transfer RTGS RTGS Fees & Charges RTGS Limit RTGS Timings RTGS Transfer K.....

More About Payments & Other Credit Cards IMPS IMPS Fees & Charges IMPS Limit IMPS Timings IMPS Transfer NEFT NEFT Fees & Charges NEFT Limit Kisan Credit Card Customer Care NEFT Transfer RTGS RTGS Fees & Charges RTGS Limit RTGS Timings RTGS Transfer K.....

Earlier, the NEFT settlement time was limited to bank working days, i.e. from Monday to Friday between 8:00 AM and 6:30 PM. So, if you made a transaction on a Saturday, Sunday, or any other bank holiday, the NEFT clearance time would be 8:00 AM on the next working day.  In December 2019, howeve.....