Make Payment (Transfer Money )

Transfer Money enables the user to initiate payment from his bank account to any other bank account without visiting the bank enjoying from the ease of his home through digital banking. Payments are categorized on the basis transfer to account within the bank, outside the bank and beyond geographical boundaries. When the transfer is to an account within the bank it is an internal transfer. Transfer to an account outside the bank, but within the country is called a Domestic transfer. A transfer to an account outside the country is called an International payment. This categorization takes places when a customer saves the payee bank account details during payee maintenance.

The customer can initiate a money transfer when the payee to whom transfers are required to be made are registered in the system.

Application provides a one solution to the customer through Transfer Money to cater their requirement of different types of payments. The customer has provided a single screen of Transfer money for their internal, domestic or international payments.

Transfer money allows the user to make payments:

• To Existing Payees
• User's own account

Transfer to new payees is done using the payee’s email id or the mobile number.

How to reach here:

Dashboard > Payments > Payments > Make Payment

Make Payment - Existing Payee

Using this option you can transfer funds from your account to already added payee's account within the bank, within the country or outside the country.

To transfer the money to existing payee:

1. In the Transfer Type field, select the Existing Payee option.

Field Description

Field Name	Description
Transfer Type	Payee to which transfer needs to be done. The options are: Existing payee My Accounts (User's own account)
Existing Payee Below fields appears if the Existing Payee option is selected in Transfer Type field.
Payee	Payee to whom fund transfer needs to be done and the nick name to identify the account for fund transfer.
Account Type	Type of account associated with the payee.
Account Details	The details of account associated with the payee.
Account Name	Name of the payee in the bank account.
Bank Details	Address of the payee 's bank account.
Transfer From	Source account from which the funds is to be transferred.
Balance	Net balance in the selected account.
Amount	Amount to be transferred along with the currency. This field appears if you select the payee from the Payee list. Note: CurrencyA generally accepted form of money, including coins and paper notes, which is issued by a government and circulated with in an economy. changes as per the type of transfer.
View Limits	Link to view the transaction limits for the user.
Transfer When	Specify when to transfer funds. The options are: Now: payment on the same day Later: payment on a future date.
Correspondence Charges	The party bearing the charges for transaction. The options are: Payee: transaction charges are to be borne by the beneficiary customer. Payer: transaction charges are to be borne by the ordering customer. Shared: transaction charges on the sender’s side are to be borne by the ordering customer.
Select Date	Date of transfer. This field appears if you select the Later option from the Transfer When list.
Payment Details	The purpose of the transfer.
Note	Narrative for the transaction.

2. From the Payee list, select the appropriate payee, and then the account maintained under payee to transfer funds.
3. From the Transfer From account list, select the account from which transfer needs to be done.
4. From the Currency list, select the appropriate currency for the amount to be transferred.
5. In the Amount field, enter the transfer amount.
6. In the Transfer When field, select the appropriate transfer date.
1. If you select the Now option, transfer will be done on same day.
   OR
   If you select Later option in the Transfer On field, select the appropriate future date for transfer.
7. From the Correspondence Charges list, select the appropriate option.
8. From the Payment Details list, select the appropriate purpose of transfer.
9. Click pay.
   OR
   Click Cancel to cancel the transaction.
10. The Review screen appears. Verify the details, and click Confirm.
    OR
    Click Cancel to cancel the transaction.
11. The success message appears along with the reference number.
    Click Done to complete the transaction.
    OR
    Click to mark the transaction as favorite. The favorite transaction is added. For more information click here.
    OR
    Click to repeat the transaction. For more information click here.

Make Payment - My Accounts

Using this option you can transfer funds to your own accounts within the same bank.

To transfer the money to own account:

1. In the Transfer Type field, select the My Accounts option.

Field Description

Field Name	Description
Transfer Type	Payee to which transfer needs to be done. The options are: Existing payee My Accounts (User's own account)
Transfer To	Payee account where the funds need to be transferred.
Balance	Net balance in the selected account.
Transfer From	Source account from which the funds is to be transferred.
Balance	Net balance in the selected account.
Amount	Amount to be transferred along with the currency. This field appears if you select the payee from the Payee list.
View Limits	Link to view the transaction limits for the user.
Transfer When	Specify when to transfer funds. The options are: Now: payment on the same day Later: payment on a future date.
Select Date	Date of transfer. This field is enabled if the Later option is selected in Transfer when field.
Note	Narrative for the transaction.

2. From the Transfer To list, select the own account where the funds need to be transferred.
3. From the Transfer From account list, select the account from which transfer needs to be done.
4. In the Amount field, enter the transfer amount.
5. In the Transfer When field, select the appropriate transfer date.
1. If you select the Now option, transfer will be done on same day.
   OR
   If you select Later option in the Transfer On field, select the appropriate future date.
6. Click Transfer.
   OR
   Click Cancel to cancel the transaction.
7. The Review screen appears. Verify the details, and click Confirm.
   OR
   Click Cancel to cancel the transaction.
8. The success message appears along with the reference number.
   Click Done to complete the transaction.
   OR
   Click to mark the transaction as favorite. The favorite transaction is added. For more information click here.
   OR
   Click to repeat the transaction. For more information click here.

FAQs

Can I transfer funds to my mortgage or loan account held in another bank?

Yes, you can transfer the funds to your mortgage or loan account in another bank.

How do I know my payee received their funds?

Whenever payments transaction completed successfully, a contract number or a reference number will get generated. You will also receive an alert on your registered email id or mobile number.

Can I set a future date for a fund transfer?

You can set a future date for up to a month from the date of transaction. However, your account will be debited.

What happens if I have set up a future dated transfer, but don't have enough funds in my account on the transaction date for the transfer?

Future dated transfer will be declined in case of insufficient funds in the account on the given transaction date.
Please ensure that your account is properly funded on the given transaction date for the future dated transfer to be successful.

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