In the event of delay in return of funds transfer instruction for any reason whatsoever, the beneficiary bank shall refund the amount together with interest (at current RBI LAF Repo Rate plus two percent) till the date of refund. In the event of any delay or loss on account of error, negligence or fraud on the part of an employee of the beneficiary bank in the completion of funds transfer pursuant to receipt of payment instruction by the beneficiary bank leading to delayed payment to the beneficiary, the beneficiary bank shall pay compensation (at current RBI LAF Repo Rate plus two percent) for the period of delay. The bank is not bound by any notice of revocation unless it is not in compliance with the security procedure. The payment instruction shall become irrevocable once it is executed by the bank. The sender / originator shall ensure availability of funds in his / her account or remit cash while issuing the payment instruction to his / her bank. The sender / originator shall be bound by any payment instruction executed by the bank if the bank had executed the payment instruction in good faith and in compliance with the security procedure, provided that the sender / originator shall not be bound by any payment instruction executed by the bank, if he proves that the same was not issued by him and that it was caused either by negligence or a fraudulent act of any employee of the bank. NEFT transaction cost:The cost of an NEFT transaction is zero.īasic rights and obligations for a customer initiating an NEFT transaction (sender/originator), as defined by RBI: The sender or the originator shall be responsible for the accuracy of the particulars given in the payment instructions and special care should be taken for account number of the beneficiary, etc. NEFT transaction timings: NEFT services are available on all working days. Under this Scheme, individuals can electronically transfer funds from any bank branch to any individual having an account with any other bank branch in the country participating in the Scheme. National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Can I see which Merchants accept payment via Airtel Money Wallet near me? List of boards are mentioned in the list on the app. Please pay 3 days before your due date to avoid any late payment charges by your biller.
Note: It takes 3 days for your utility bill payments (electricity, water, gas) to be processed. Your previous transactions will also be displayed when you select 'Bills' or 'Utilities' This enables you to repeat your most frequent transactions with a single click! Now all you have to do is select the one you wish to repeat and confirm with your mPIN. You will get an instant SMS confirming the transaction. On the transaction screen, enter the required information and confirm with your mPIN. Select the type of Bill you’d like to pay under this tab, Mobile/ Landline/ Data Card/ Electricity/ Gas/ Insurance, and proceed to the transaction screen. Tap on the 'Pay Bill' tab in the Payments Bank section. Airtel Money Wallet lets you pay your Bills (Postpaid, Landline & Data Card) & Utilities (Electricity/gas/water & Insurance) by using your wallet.
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