Need help with a SBI neft transaction

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@ca50.. yes. But the amount of time taken to get the money deposited into your friends account is not under their control.Offline neft will cut the verification time , thats it. :)
 
15 hour wait is standard for adding new Beneficiary in SBI. Learnt this just earlier this week from SBI CC.
 
Lord Nemesis said:
Also there are no charges for NEFT either.
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no mate whether offline or online Rs 5/- is charged upto 1 lakhs

SpaceVoid said:
@ca50.. yes. But the amount of time taken to get the money deposited into your friends account is not under their control.Offline neft will cut the verification time , thats it. :)
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yeah, thats were i save time :)
Aladdin said:
15 hour wait is standard for adding new Beneficiary in SBI. Learnt this just earlier this week from SBI CC.
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umm...i am also waiting
edit: just got a message that it is activated, let see

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so finally the beneficiary name got active or verified or what ever it is. I sent the neft. when will be the money deducted from my account?
 
hdfc is 24 hours , earlier sbi verifcation was instant , the momnet you enter the high security password , it was done , now after you enter the password , the site displays a message , that it will take 16 hours to approve it , now its changed , the site displays it very clearly on top , usually its done before that time , so nothing to worry
 
now everything is done, i sent the money but i remember selecting "pay now", but still it is scheduled for tomorrow. here is the inquiry screenshot
Any inputs:S

k9ta2b.jpg
 
CA50 said:
now everything is done, i sent the money but i remember selecting "pay now", but still it is scheduled for tomorrow. here is the inquiry screenshot
Any inputs:S

k9ta2b.jpg
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NEFTs are official transactions that are routed through RBI. They take place only on working days. Monday to Friday between 9 and 5, and on Saturdays from 9 to 2. Each bank however, has their own cut-offs, which are usually upto an hour before the RBI cut off. As per RBI's mandate, the NEFT amount needs to be transferred on the same day. In your case, the debit will take place tomorrow and will be credited to the recipient tomorrow itself. Also note that the NEFT takes place 5 times in a day, I don't remember the exact timings, but I think they are something like 9, 10:30, 12, 3, and 5.
 
+1 to LN.. i was never charged anything for any of the NEFT transfers from ICICI..

@OP.. why are u so impatient.. do not be so impatient when it comes to money.. just 2 cents.. :)
 
@all, thank guys you really helped me and i learnt some new lesson today:)

kauzy said:
+1 to LN.. i was never charged anything for any of the NEFT transfers from ICICI..

@OP.. why are u so impatient.. do not be so impatient when it comes to money.. just 2 cents.. :)
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Actually i am not that impatient and if you consider me a getting impatient, then here are my reasons:P
#1st online transaction from my sbi internet banking, previously made transaction using debit card
#I bought a hdd from TE, don't want to miss it because of some delay
#i have to go to an urgent place in the morning but delayed because of this.
#can't do this transaction later, because untill sunday i will not have access to my pc and can't trust mobile.

Chill guys, everything is done, m very happy :D
 
^ Now ICICI also charge 5/- per NEFT transaction, they have instant beneficiary verification SMS procedure.

@CA50

SBI normally takes time to verify, today is NEFT holiday. Your scheduled transaction will happen tomorrow, in the mean you can edit or cancel. SBI to SBI account transfer is instant other through NEFT could take 3-48 hours.
 
CA50 said:
@all, thank guys you really helped me and i learnt some new lesson today:)
Actually i am not that impatient and if you consider me a getting impatient, then here are my reasons:P
#1st online transaction from my sbi internet banking, previously made transaction using debit card
#I bought a hdd from TE, don't want to miss it because of some delay
#i have to go to an urgent place in the morning but delayed because of this.
#can't do this transaction later, because untill sunday i will not have access to my pc and can't trust mobile.

Chill guys, everything is done, m very happy :D
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all's well that ends well.. :P
 
virus32win said:
^ Now ICICI also charge 5/- per NEFT transaction, they have instant beneficiary verification SMS procedure.
@CA50
SBI normally takes time to verify, today is NEFT holiday. Your scheduled transaction will happen tomorrow, in the mean you can edit or cancel. SBI to SBI account transfer is instant other through NEFT could take 3-48 hours.
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I think thats the nominal NEFT fees, atleast it is better then 25 bucks that sbi charge even for inter branch transfer:@
Its ok now i have notified the beneficiary about this, i hope he won't mind :)

kauzy said:
all's well that ends well.. :P
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yeah, thats right all's well that ends well.
have a great day guys :)
 
agantuk said:
NEFTs are official transactions that are routed through RBI. They take place only on working days. Monday to Friday between 9 and 5, and on Saturdays from 9 to 2. Each bank however, has their own cut-offs, which are usually upto an hour before the RBI cut off. As per RBI's mandate, the NEFT amount needs to be transferred on the same day. In your case, the debit will take place tomorrow and will be credited to the recipient tomorrow itself. Also note that the NEFT takes place 5 times in a day, I don't remember the exact timings, but I think they are something like 9, 10:30, 12, 3, and 5.
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Actually the number of NEFT settlements have increased now.

Q.8. What are the operating hours of NEFT?

Ans : Presently, NEFT operates in hourly batches - there are eleven settlements from 9 am to 7 pm on week days and five settlements from 9 am to 1 pm on Saturdays.
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^ Oh that's great, wasn't aware of it. However, I don't see any of the banks mentioning this new cut off time (7 PM). I probably need to go recheck.
 
i have a doubt..
If i add a beneficiary, and once its approved, will the approved beneficiary stays in my account after the transaction is over?

Can this approval be used for further money transfers to the same beneficiary cutting down the approval time.

Please excuse me if not framed properly
 
thatsashok said:
what about approval time in next transaction???
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The approval of beneficiary is an one time process.

From next time you'd just select the beneficiary, put the amount and NEFT. That's all.
 
^ nice . i got my internet banking last year but haven't utilized it to maximum extent. just used to check balances post PoS purchases
 
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