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What are the steps involved in making an RTGS transfer?

Curious about RTGS

What are the steps involved in making an RTGS transfer?

The steps involved in making an RTGS transfer are:

1. First, you need to visit your bank and fill out the RTGS form.
2. Provide the details of the beneficiary's bank account, including the name of the account holder, the account number, and the IFSC code of the bank branch.
3. Provide the amount you wish to transfer and any additional information that may be required by your bank.
4. Once you have filled out the form, submit it to your bank, along with any applicable fees.
5. After the bank verifies the details, the transfer will be initiated and the amount will be credited to the beneficiary's account.

It's worth noting that some banks also allow customers to initiate RTGS transfers through their internet or mobile banking platforms. The process may vary slightly depending on the bank and the platform being used.

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