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Are there any special precautions I need to take while making RTGS transactions?

Curious about RTGS

Are there any special precautions I need to take while making RTGS transactions?

Yes, there are some precautions you can take while making RTGS transactions:

1. Make sure that the beneficiary's account details are accurate, including the name of the account holder, account number, and IFSC code of the bank branch.

2. Verify the amount to be transferred before initiating the RTGS transaction to avoid errors.

3. Ensure that your bank account has sufficient funds to cover the transfer amount, along with any applicable fees.

4. Keep a record of the transaction reference number and the acknowledgement receipt provided by your bank after initiating the RTGS transfer.

5. Be cautious of fraudulent activities such as phishing scams or calls asking for your personal information or bank details.

6. Avoid using public WiFi or unsecured internet connections for making RTGS transactions to prevent any unauthorized access to your account information.

7. If you notice any suspicious activity or unauthorized transactions in your account, notify your bank immediately to prevent any further loss.

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