Hot Deal How to transfer 6 Lac Rs without incurring NEFT fee?

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How to transfer 6 Lac Rs without incurring NEFT fee?
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Hi, I need to transfer Rs 6 Lacs from Hdfc bk account to another account. Since both NEFT n IMPS r charged, is there a way to do this through some fintech app (BHIM etc) free of cost? Would appreciate any guidance @DealSeeker @TrickyTimer @A2Zdeals

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PLEASE DELETE… sorry for posting this in the wrong forum @Nigel

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@maxdealer
Try UPI but you have to transfer as per max limit day by day, you can’t transfer 6 lacs at one go.

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@maxdealer

(1) UPI transactions are limited to max 1 lac per day.

(2) IMPS transactions are limited to max 2 lac per transaction (not sure about the daily limit).

(3) BHIM transactions are limited to max 20K per day.

(4) Your only appropriate options are NEFT and RTGS. It would likely cost about Rs.50 to send 6 lacs in a single transaction via RTGS. Do NOT try to save these 50 or so rupees. Avoid the hassle and risk when you are dealing with such amounts.

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In case time is not the constraint, issue cheque and lodge in the clearing.
Free of charge.

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RTGS – Outward From Rs 2 Lacs to Rs 5 Lacs – Rs 25 (exclusive of taxes) per transaction Above Rs 5 Lacs- Rs 50 (exclusive of taxes) per transaction

Even 2 RTGS OF
2+4 will attract charges of Rs 50 total.+ tax.

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Alpha.Barood wrote:

In case time is not the constraint, issue cheque and lodge in the clearing.
Free of charge.

+1

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Alpha.Barood wrote:

RTGS – Outward From Rs 2 Lacs to Rs 5 Lacs – Rs 25 (exclusive of taxes) per transaction Above Rs 5 Lacs- Rs 50 (exclusive of taxes) per transaction

Even 2 RTGS OF
2+4 will attract charges of Rs 50 total.+ tax.

true.
posted the HDFC charges link in the other thread.
( https://cdn2.desidime.com/assets/textile-editor/icon_evil.gif why not merged, God knows).

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If the bank is same, the cheque is best and free option. u can ask your branch manager to clear it within 30 mins.
I normally use this method. ICICI to ICICI

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sasasasa wrote:

If the bank is same, the cheque is best and free option. u can ask your branch manager to clear it within 30 mins.
I normally use this method. ICICI to ICICI

icici to icici is free bro https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif
same to same bank its free bro https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

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Thx all for making this an active discussion topic https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif guessing its relevant and useful to multiple people

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ICICI has no charge on NEFT, as far as I know.

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I am wondering if you have 6 lacs to transfer then why worrying about 60 rs charge. you must be aware that all banks have Anti money laundering tools and you may be flagged on those parameters if you do transactions just below the AML limits and account may be frozen unless you provide relevant proofs. Why face the hassle for saving nominal charge

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vicks619 wrote:

I am wondering if you have 6 lacs to transfer then why worrying about 60 rs charge. you must be aware that all banks have Anti money laundering tools and you may be flagged on those parameters if you do transactions just below the AML limits and account may be frozen unless you provide relevant proofs. Why face the hassle for saving nominal charge

Agreed. Will Transfer full amt via NEFT. Today closed anyway

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vicks619 wrote:

I am wondering if you have 6 lacs to transfer then why worrying about 60 rs charge. you must be aware that all banks have Anti money laundering tools and you may be flagged on those parameters if you do transactions just below the AML limits and account may be frozen unless you provide relevant proofs. Why face the hassle for saving nominal charge

N I was asking bcoz actually I need to mk high value transactions pretty often , so if there is a way to skip charges , then y not help myself (n others) https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif

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maxdealer wrote:

N I was asking bcoz actually I need to mk high value transactions pretty often , so if there is a way to skip charges , then y not help myself (n others) https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif

than go for Cheque.

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If it is same bank, local or other city .. transfer by cheque over the bank counter, free of charge
Other bank, deposit in account through clearing .. free of charge. takes 24 hrs i.e second day after 7pm it clears.rs
NEFT -same day before bank close --rs 2/- per lakhs+taxes (my bank charges Rs 20 slab up to 6 lakhs.) It is foolish to calculate penny amounts when we need big services…..

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maxdealer wrote:

N I was asking bcoz actually I need to mk high value transactions pretty often , so if there is a way to skip charges , then y not help myself (n others) https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif

upgrade your savings account in banks, some banks give these features for free if u can maintain average balance. for example, icici gives me neft , rtgs atm withdrawals free anytime for 1 lakh average balance

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