India / Banking

NEFT, RTGS and IMPS, how to send money and which to use

NEFT, RTGS and IMPS all move money between bank accounts using the account number and IFSC, and all three work 24x7. Use IMPS for instant transfers up to Rs 5 lakh, NEFT for any amount where a wait of up to two hours is fine, and RTGS for Rs 2 lakh and above in real time.

Fee: Online NEFT from a savings account is free; RTGS is capped at Rs 25 or Rs 50 plus tax; IMPS charge is set by your bank
Time: IMPS instant; RTGS within 30 minutes; NEFT within two hours of the batch
How: Net banking, mobile banking or bank branch

Checked against official sources on 13 October 2026. See the 11 sources.

Not confirmed

These points could not be confirmed on an official page on 13 October 2026. Check them with the office or portal before you rely on them.

No RBI or NPCI page opened on 13 Oct 2026 fixes what a bank may charge a customer for IMPS; it is left to each bank's schedule of charges and was not checked bank by bank
Daily transfer limits, limits for a newly added beneficiary and any waiting period after adding a beneficiary are set by each bank and were not checked
The RBI NEFT and RTGS FAQ pages still name the 2021 Ombudsman Scheme and give contact centre hours of 9:30 am to 5:15 pm; the RBI FAQ on the 2026 Scheme says the 2026 Scheme applies from 1 July 2026 and staff are available 8 am to 10 pm; the 2026 page is followed here
The 2019 TAT circular was opened on the RBI site without any notice of withdrawal, but it was not separately confirmed whether it has since been folded into a later consolidated Direction; its text still refers to the 2021 Ombudsman Scheme
NPCI's own IMPS product and FAQ pages showed no content or a "Page Not Found" message on 13 Oct 2026; IMPS facts are taken from NPCI circular PDFs and RBI pages instead
The 45 day and 25 day IMPS dispute timelines are rules between banks in NPCI circulars, not a promise to the customer; how they apply to an individual case is the bank's call
The NPCI circulars OC 119 and OC 133 are scanned images and were read on screen, not as text
Whether the Rs 5,000 limit for IMPS by SMS and IVRS still stands was seen only in the RBI statement of 8 October 2021
Whether every bank has actually switched on the NEFT and RTGS name look-up was not checked bank by bank

Quick answer

	NEFT	RTGS	IMPS
Run by	RBI	RBI	NPCI
How it settles	In batches every half hour	One by one, in real time	Instantly
Available	24x7, all days of the year	24x7, all days of the year	24x7
Minimum amount	None set by RBI	Rs 2,00,000	None found in the sources opened
Maximum amount	None set by RBI; your bank may set one	No ceiling	Rs 5 lakh per transaction
When the receiver gets it	Within two hours of the batch	Within 30 minutes of the bank receiving the message	Immediately
Charge	Free online from a savings account	Up to Rs 25 or Rs 50 plus tax	Set by your bank

Which to use

Up to Rs 5 lakh and you want it now: IMPS.
Rs 2 lakh or more and you want it in real time: RTGS. It is the only one of the three with no upper limit in the system itself.
Any amount, no hurry, lowest cost: NEFT.

All three are "credit push" systems. Only the sender can start the transfer. Nobody can pull money from your account through NEFT or RTGS.

Who can apply

Any individual, firm or company with an account in a bank that is a member of the system can send and receive. For NEFT and RTGS, both the sending and the receiving branch must be enabled for that system.

A person with no bank account can also send money by NEFT by depositing cash at an NEFT enabled branch and giving their address and phone number. This is capped at Rs 50,000 per transaction.

To send from net banking or the mobile app you need those services active on your account, and your mobile number registered with the bank for OTPs.

Documents you need

No documents are needed for an online transfer. You need these details of the person you are paying:

Detail	NEFT and RTGS	IMPS
Beneficiary name	Yes	Shown to you for checking
Account number	Yes	Yes, with IFSC
IFSC of the branch	Yes	Yes
Bank and branch name	Yes	Bank name
Account type	Asked for NEFT	Not listed
Mobile number and MMID, or mobile number and bank name	No	Alternative to account number and IFSC

IFSC is an 11 character code. The first four letters identify the bank, the fifth character is zero, and the last six identify the branch. It is printed on the cheque leaf.

At a branch, you fill in the bank's NEFT or RTGS application form and authorise the bank to debit your account. Eligible large value transactions also need the Legal Entity Identifier of the sender and the beneficiary.

Steps

Online (net banking or mobile app)

Log in to your bank's net banking or mobile app.
Add the beneficiary. Enter the name, account number, IFSC and account type. The exact screens and the way the bank confirms the addition differ from bank to bank.
Check the name the bank shows you. RBI has told all banks in NEFT and RTGS to show the account holder's name, fetched from the beneficiary's bank using the account number and IFSC, when you add a beneficiary or make a one-time transfer. The deadline for banks was 1 April 2025 and the facility is free. IMPS and UPI already had this check. If the name shown is not the person you mean to pay, stop.
Wait if your bank applies a waiting period or a lower limit for a new beneficiary. This is the bank's own rule.
Choose the beneficiary, enter the amount and pick NEFT, RTGS or IMPS. Some apps choose the system for you based on the amount.
Approve the debit with your transaction password, OTP or PIN.
Save the reference number. For RTGS and NEFT this is the UTR (Unique Transaction Reference). In RTGS the UTR is a 22 character code.

You can re-verify the name of a saved beneficiary at any time. If the name cannot be displayed for some reason, RBI allows you to go ahead at your own discretion.

At a branch

Ask for the NEFT or RTGS application form.
Fill in the beneficiary details and the amount, and authorise the bank to debit your account.
Ask the staff to show you the beneficiary's name from the look-up facility. RBI requires it to be available at branches too.
Keep the counterfoil with the UTR or reference number.

If money went to the wrong account

Tell your own bank at once, in writing, with the UTR or reference number, date, amount and both account numbers.
Understand the rule: in NEFT and RTGS, credit is given solely on the account number. The name is not matched. RBI's FAQs place the responsibility for a correct account number on the sender, and an RTGS payment is final and irrevocable.
Your bank takes it up with the receiving bank. For IMPS, NPCI's rules let the sending bank raise a wrong payment reversal request with the receiving bank. Under NPCI's dispute timelines, such a request can be raised within 45 days of the transaction and the receiving bank gets 25 days to accept or reject it.
Recovery is not guaranteed. NPCI's reason codes show a request can be rejected where the recipient's account does not have enough balance, or the recipient cannot be contacted to confirm the debit.
If the account number you typed does not exist, the money cannot be credited and comes back to you (see the next section).

If your account was debited but the receiver was not credited

Wait for the time limit in the table under "How long it takes".
Then contact your bank with the UTR. For NEFT and RTGS, each bank has a Customer Facilitation Centre for this.
Check your statement for a reversal. A returned NEFT is shown as "NEFT-Return".
You do not have to file a claim for compensation. The bank must pay it on its own. If it does not, complain to the bank in writing.

Fees

Charges that RBI has fixed or capped:

Transfer	Charge to customer
Receiving money by NEFT or RTGS	Free. Banks cannot charge for inward credits
NEFT sent online from a savings account	Free since 1 January 2020
Other outward NEFT (for example at a branch), up to Rs 10,000	Not more than Rs 2.50 plus GST
Above Rs 10,000 up to Rs 1 lakh	Not more than Rs 5 plus GST
Above Rs 1 lakh up to Rs 2 lakh	Not more than Rs 15 plus GST
Above Rs 2 lakh	Not more than Rs 25 plus GST
Outward RTGS, Rs 2 lakh to Rs 5 lakh	Not more than Rs 25, exclusive of tax
Outward RTGS, above Rs 5 lakh	Not more than Rs 50, exclusive of tax
Beneficiary name look-up for NEFT and RTGS	Free

Banks may charge less than these caps but not more. RBI itself has not charged banks any processing fee for NEFT or RTGS since 1 July 2019.

Charges the bank sets: no RBI or NPCI page opened for this guide fixes a customer charge for IMPS. Check your bank's schedule of charges. The same applies to current account NEFT charges within the caps above.

How long it takes

System	Normal time	If it cannot be credited	Compensation for delay
NEFT	Credit within two hours of the batch settlement	Receiving bank must return it within two hours of the batch	Penal interest at the RBI LAF repo rate plus 2 per cent for the period of delay, paid without a claim
RTGS	Receiving bank must credit within 30 minutes of getting the message	Returned to the sending bank within one hour, or before the end of the RTGS business day, whichever is earlier	Repo rate plus 2 per cent for delay in returning
IMPS	Instant	Auto-reversal by the receiving bank latest on T+1, where T is the calendar day of the transaction	Rs 100 per day of delay beyond T+1

These are outer limits. RBI's framework on failed transactions says banks should try to resolve them sooner, and that money due as compensation is to be credited to the customer's account suo moto.

RTGS does not accept future dated transactions. NEFT runs in half-hourly batches, so a transfer made just after a batch closes waits for the next one.

How to check status

Your bank's app or statement shows whether the debit has been reversed.
NEFT: sender and receiver can each ask their own bank's NEFT Customer Facilitation Centre. Keep the UTR, date, amount, sender IFSC, beneficiary name and beneficiary IFSC ready. You should get an SMS or email when the beneficiary is credited.
RTGS: customers cannot track it themselves, but the sending bank receives a positive confirmation of credit and should inform you.
RBI help desks: nefthelpdeskncc@rbi.org.in for NEFT and rtgsmumbai@rbi.org.in for RTGS.

Common problems

Wrong account number typed. The system does not match names. Use the name look-up before you pay.
Amount below Rs 2 lakh not going by RTGS. That is the minimum. Use NEFT or IMPS.
IMPS failing above Rs 5 lakh. That is the per transaction limit. Use NEFT or RTGS.
Bank's own limit is lower. RBI allows a bank to set amount limits based on its own risk perception. Ask the bank to raise your limit or use the branch.
Name look-up shows nothing. RBI lets you proceed at your discretion. For a first payment to a new person, it is safer to confirm the details with them again.
Bank does not pay the delay compensation. Complain to the bank in writing. If there is no reply in 30 days or you are not satisfied, file with the RBI Ombudsman on cms.rbi.org.in.
Sending abroad. NEFT outward remittance abroad is allowed only to Nepal under the Indo-Nepal Remittance Facility Scheme.

Fraud warning: you never need to enter an OTP, PIN or password to receive money. Do not add a beneficiary or approve a transfer on the instructions of a caller.

FAQ

What is the difference between NEFT, RTGS and IMPS?

NEFT settles in half-hourly batches and has no RBI limit on amount. RTGS settles each payment in real time and is for Rs 2 lakh and above. IMPS is NPCI's instant service with a limit of Rs 5 lakh per transaction. All three run round the clock.

Is NEFT available on Sundays and bank holidays?

Yes. RBI's FAQ says NEFT is available on a 24x7x365 basis. RTGS has been 24x7x365 since 14 December 2020.

What is the minimum amount for RTGS?

Rs 2,00,000. There is no upper ceiling in RTGS.

How much does NEFT cost?

Nothing, if you are a savings account holder sending online. For other outward NEFT the bank can charge at most Rs 2.50, Rs 5, Rs 15 or Rs 25 plus GST depending on the amount.

How long does NEFT take?

The beneficiary should be credited within two hours of the batch in which the transfer was settled.

I sent money to the wrong account. Can I get it back?

Tell your bank immediately. The banks credit on the account number alone and the sender is responsible for getting it right. Your bank can ask the receiving bank to reverse it, but that can fail if the recipient has withdrawn the money or does not agree to the debit.

What compensation do I get if a transfer fails and the refund is late?

For NEFT and RTGS, interest at the repo rate plus 2 per cent for the period of delay. For IMPS, Rs 100 per day beyond T+1. The bank has to pay this on its own.

What is a UTR number?

It is the Unique Transaction Reference that identifies a transfer. In RTGS it is a 22 character code. Quote it in any complaint.

Can I see the receiver's name before sending by NEFT or RTGS?

Yes. RBI directed banks to offer a free beneficiary account name look-up in net banking, mobile banking and branches by 1 April 2025.

Can I schedule an RTGS for a later date?

RBI's FAQ says the RTGS system does not accept future value dated transactions.

Official links

Sources

Every fee, time limit, form and address above was read on these official pages on 13 October 2026.

RBI, FAQs on the National Electronic Funds Transfer (NEFT) System (updated as on 2 September 2024) Supports NEFT is owned and run by RBI; 24x7x365 in half-hourly batches; no RBI limit on amount, banks may set their own; Rs 50,000 cap on cash remittance by walk-in persons; details needed to add a beneficiary; no charge on inward credit; no charge for online NEFT from savings accounts since 1 January 2020; maximum charges for other outward NEFT; credit or return within two hours of batch settlement; penal interest at repo rate plus two per cent; credit solely on account number; tracking through the bank's Customer Facilitation Centre; "NEFT-Return" entry; credit-push only; Nepal remittance; NEFT help desk email
RBI, FAQs on the Real Time Gross Settlement (RTGS) System (updated as on 31 October 2022) Supports RTGS settles each transaction in real time; payments final and irrevocable; 24x7x365 since 14 December 2020; minimum Rs 2,00,000 and no maximum; inward free, outward capped at Rs 25 and Rs 50 exclusive of tax; details needed; credit solely on account number; beneficiary bank to credit within 30 minutes; return within one hour or end of RTGS business day; compensation at repo rate plus 2 per cent; no future dated transactions; UTR is a 22 character code; RTGS help desk email
RBI circular, Harmonisation of Turn Around Time (TAT) and customer compensation for failed transactions using authorised Payment Systems (20 September 2019) Supports Definition of a failed transaction; T is the calendar day of the transaction; IMPS auto-reversal by the beneficiary bank latest on T+1 and Rs 100 per day beyond that; compensation to be paid suo moto without a claim; TAT is the outer limit; customer may go to the Ombudsman
RBI circular, Introduction of beneficiary bank account name look-up facility for RTGS and NEFT Systems (30 December 2024) Supports UPI and IMPS already let a remitter verify the beneficiary name; banks to offer name look-up for RTGS and NEFT in internet banking, mobile banking and branches no later than 1 April 2025; shown when adding a beneficiary and for one-time transfers; re-verification of saved beneficiaries; remitter may proceed if the name cannot be shown; free of charge
RBI press release, Statement on Developmental and Regulatory Policies (8 October 2021) Supports IMPS is run by NPCI and provides 24x7 instant domestic funds transfer through internet banking, mobile apps, branches, ATMs, SMS and IVRS; SMS and IVRS limit of Rs 5,000 per transaction; proposal to raise the limit to Rs 5 lakh
NPCI, IMPS circulars page Supports Official list of IMPS circulars from which the NPCI documents below were opened
NPCI circular IMPS OC 103 (11 October 2021), Enhanced Per Transaction Limit for IMPS Transactions from Rs 2 Lakh to Rs 5 Lakh Supports IMPS per transaction limit of Rs 5 lakh for all channels except SMS and IVR
NPCI circular IMPS OC 119 (31 October 2023), Enablement of Simplified IMPS Supports IMPS works by account number plus IFSC or by mobile number plus MMID; mobile number plus bank name transfers; remitter banks must give beneficiary validation before a transaction
NPCI circular IMPS OC 115 (26 May 2023), Revision of Dispute TAT for IMPS Supports For a wrong IMPS transfer the customer complains to their own bank; the remitting bank raises the dispute with the beneficiary bank on NPCI's system; wrong credit chargeback can be raised within 45 days and the beneficiary bank has 25 days to accept or reject; no action within time is deemed acceptance
NPCI circular IMPS OC 133 (21 July 2026), Revision of Wrong Payment Reversal Request Supports From 15 August 2026 a dedicated Wrong Payment Reversal Request category exists between banks; reasons for rejection include insufficient balance in the recipient's account and the recipient not being reachable for debit confirmation
RBI, FAQs on the Reserve Bank Integrated Ombudsman Scheme, 2026 Supports Complain to the bank first; Ombudsman after 30 days or an unsatisfactory reply; cms.rbi.org.in; contact centre 14448

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