Is RTGS NEFT really free now?

Is RTGS NEFT really free now?

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Deal Newbie
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As per recent RBI order is NEFT and RTGS free now ?because the bank sites still showing charges. I am having accounts in UCO bank and SBI banks both sides are showing charges have anyone tried please share details

7 Comments  |  
8 Dimers
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Deal Lieutenant
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i suppose HDFC shows the charges as free for online NEFT RTGS

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Deal Cadet
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Most banks wont revert charges unless you complain

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Deal Cadet
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Its not free for you. RBI used to levy charges for every neft/rtgs to bank and now they have exempted the bank to pay any charges in hope that Bank will pass the benefit to customer. Now it is upto bank they remove the charges or not. AFAIK Sbi removed the charges and canara bank decreases the service charge levied on the tranx

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Deal Cadet
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ICICI still showing the charges on their website.

Tenor %281%29
Deal Cadet
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interesting, i was never charged for neft in yes bank and hdfc bank.

Johnny sins approval
Deal Cadet
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Rahil42 wrote:

Its not free for you. RBI used to levy charges for every neft/rtgs to bank and now they have exempted the bank to pay any charges in hope that Bank will pass the benefit to customer. Now it is upto bank they remove the charges or not. AFAIK Sbi removed the charges and canara bank decreases the service charge levied on the tranx

I m still paying charges for NEFT with SBI as well as Canara Bank.

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Deal Subedar
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UPI is free for all banks.
I use digibank for free NEFT and UPI for free transfer from ICICI to digibank.

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