Organization : Andhra Bank
Service Name : National Electronic Funds Transfer
Applicable State/UT: All India
National Electronic Funds Transfer : http://www.andhrabank.in/English/RetailNeft.aspx
Website : http://www.andhrabank.in/English/Home.aspx
National Electronic Funds Transfer :
National Electronic Funds Transfer (NEFT – On line Funds Transfer to other banks) Called AB Xpress
Related : Andhra Bank Travel Cards : www.statusin.in/20719.html
What is NEFT?
National Electronic Funds Transfer (NEFT) is a funds transfer mechanism where transfer of money takes place from one bank to another on the same day . In other words, this is an electronic payment processing environment wherein transactions are settled as soon as they are processed.
Who can avail this facility
Only customers of the branch where they are having Savings/Current Accounts
In what way it is beneficial to the Customers
Customer can remit funds to the account of another bank branch. The funds are transferred instantaneously at nominal charges
Min Amount for Transfer : Rs.1
Max Amount for Transfer : No Limit
Charges :
| Inward Transaction | Free |
| Outward Transaction Slab | Charges not exceeding |
| Upto Rs.10,000/- | Rs. 2.50 per transaction |
| Upto Rs.1 lakh | Rs. 5.00 per transaction |
| Above 1 lakh to 2 lakh | Rs. 15.00 per transaction |
| Rs.2 lakh and above | Rs. 25.00 per transaction |
What the customer must have for remittance
** IFSC of the bank branch to which the remittance to be made (IFSC is 11 characters code)
** Beneficiary account number, Name and Address (to whom the remittance is intended to )
** Approach the branch with the above details
How to get the IFSC of the branch :
** It is available on the cheque leaf supplied by the bank
** Can also get from the branch
What is the time frame for reaching the funds at the other end?
Within 2 hrs of remittance on the same day
Cut off time for remittance through NEFT ?
Monday to Saturday : 08:00 hrs to 19:00 hrs
NEFT works on all days except on 2nd & 4th Saturday of the month, Sundays and National Holidays
Importance Account Number :
Outward :While remitting the funds, Account Number of the beneficiary is to be mentioned correctly in the voucher (to whom the remittance is intended to ).
Inward : While seeking remittance from other bank Customers it is mandatory to quote your 15 Digit Finacle Account Number compulsorily.
Helpline :
For further details and redressal of NEFT complaints, please contact at following address:
Andhra Bank, Service Centre,
11, Homi Modi Street, Bansilal Building
Fort, MUMBAI 400 001
Phone : 022-22610228/22610106
email: neftcell [AT] andhrabank.co.in
About Us :
“Andhra Bank” was founded by the eminent freedom fighter and a multifaceted genius, Dr. Bhogaraju Pattabhi Sitaramayya. The Bank was registered on 20th November 1923 and commenced business on 28th November 1923 with a paid up capital of Rs 1.00 lakh and an authorised capital of Rs 10.00 lakhs.
To become a significant player, providing full range of banking services through innovative customer centric products and to maximize stake holders’ value.
To work together towards delivering excellent customer service by leveraging on technology and human resources to attain world class performance standards.
Contact Us :
Andhra Bank
5-9-11, Dr Pattabhi Bhavan,
Secretariat Road, Saifabad
Hyderabad 500 004. Telangana