National Electronic Fund Transfer Code (NEFT)
National Electronics Fund Transfer (NEFT) is a nationwide electronic fund move service that makes it simple and secure to transfer money from one bank account to another.
Benefits of Fund Transfer using NEFT -
Real Time Gross Settlement Code (RTGS)
The Central Bank of India makes use of RTGS to lessen the risk associated with any high value transactions. Threats will always exist, despite the fact that banks and financial institutions have very high-security procedures in place to protect the information of their customers.
Benefits of RTGS -
Indian Financial System Code (IFSC)
Indian Financial System Code is referred to as IFSC code. It is an identification code with 11 digits. This code is made up of both letters and numbers. The bank is represented by the first four alphabetic characters, followed by the number 0 and the following six characters, which are often numeric but could also be alphabetic.
Benefits of IFSC code -
Society for Worldwide Interbank Financial (SWIFT Code)
A financial institution usage of a globally recognised code is known as a SWIFT code. The code identifies a specific financial institution globally. It has between 8 and 11 digits:
Benefits of SWIFT code -
These codes are mostly used for sending money between banks, particularly for international wire transfers, as well as for other types of messaging.