Real Time Gross Settlement (RTGS)

Real Time Gross Settlement (RTGS) System is set up, operated and maintained by Reserve Bank of India to enable funds settlement on real-time basis across Banks in the country. Allahabad Bank is a member of RTGS with various branches (as per Annexure - A) offering this facility across the Country.

The main benefit of the RTGS is that the payee Bank and their customers receive funds with certainty, or so-called finality, during the day, enabling them to use the funds immediately without exposing themselves to risk.

You can now remit money to any of the over 62,000 designated branches all over India which will reach the beneficiary the same day, within hours.

Eligibility

Allahabad Bank offers instant remittance facility through RTGS to both corporate and individual customers for transfer of funds from their accounts with us to customers of other Bank branches, which are RTGS enabled. Incidentally, Allahabad Bank customers can also receive funds from other RTGS enabled Bank branches.

Branches covered

Presently more than 890 branches of Allahabad Bank, as mentioned in the list (Annexure-A) are offering this facility.

Requirement

Allahabad Bank customer who is willing to transfer the funds will be required to provide the IFSC Code (a number allotted to each participating Bank branch) of the branch where the funds are to be transferred, along with other details of the beneficiary - name, account number, etc. If they are to receive funds from others, they can inform the details like IFSC Code (of the branch of Allahabad Bank where account is maintained), account number, etc to the sender.

Benefits to Customers

1. Transfer of funds on the same day
2. No courier/postal charges
3. No physical loss or material changes while in transit
4. Fully secured
5. Savings on interest cost
6. Better cash management

Charges

Please contact any of our listed bank branches for availing the RTGS facility

Annexure-A

Click here for List of Branches participating in RTGS

   The RTGS Cut-Off Time is as under:

Customer Payment	Mon - Fri	09.00 to 16.30 Hours
	Sat	09.00 to 13:30 Hours
Inter- Bank Payment	Mon - Fri	09:00 to 18:00 Hours
	Sat	09:00 to 15:00 Hours

Please note that the timings are subject to change as per RBI notification.