HDFC Netbanking help

[LaatSahab]

Folks, I recently got Third party transfers activated on my Netbanking account of HDFC.

Now please help me out by explaining' as to how to use it, I mean which option to choose when I want transfer funds in:

1. HDFC account of person of another city, different HDFC branch?
   
2. HDFC account of person of same city, means same HDFC branch?
   
3. Account of person of some other bank, means different bank of different city and such?
   

Please explain the whole deal to me. :huh:

 

[manu1991]

For 1 and 2 Use the first option , for 3 use the second option .

 

[qxsilvr]

To transfer within HDFC - Use Transfer within the bank option (regardless of city)

To transfer to some other bank - Use the Transfer to other bank / Credit Card Payment (Using NEFT) option

 

[amol_cool]

1. Transfer to ANYONE with HDFC regardless of branch,city - Use first option

2. To Transfer to ANYONE with any bank - Use second option

 

[PhOeNiX]

1. Transfer within the bank

This option is for transferring within the same bank, that is HDFC. The branch and the location of the branch are irrelevant as long as it is an HDFC account.

2. Transfer to other bank (Using NEFT)

This option is for transferring to another bank using a NEFT transfer (National Electronic Funds Transfer (NEFT) system is a nation wide funds transfer system to facilitate transfer of funds from any bank branch to any other bank branch.) This option usually takes around 24-48 Hours to reflect, as it goes via RBI and then to the recipients account.

More info here
Reserve Bank of India

3. Transfer to another bank (Using RTGS)

This is a faster way of transfer to another bank as the transfer is instant, but is possible only for a sum above Rs 1Lac and also there are specific times when it is transferred. For normal payments, i would recommend avoiding this.

More info here
Reserve Bank of India