REMITTANCE & COLLECTIONS FACILITIES -->
electronic remittance services
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| Electronic Remittance Services |
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To ensure efficient and enduring safety for your payments and receipts, Vijaya
Bank offers Electronic Remittance Services. These services are available in the metropolitan cities
of Calcutta, Delhi, Mumbai and Chennai, apart from other large city centres.
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The ECS (Credit) and ECS (Debit/Rapid) services are offered free of cost to
all our customers.
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ECS (Credit Clearing)
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No more postal delays, missing warrants and delays in depositing warrants
received into your account
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Our ECS (Credit) enables credit of dividend warrant/interest payments due to
you from companies and institutions to your account promptly and automatically on due dates.
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You are required to give an option for ECS (Credit) to the company from whom
your payments are due, wherein you give the details of your account with us - branch, type of
account, account number. Your dividends/interest credits from companies in which you have invested
will be automatically credited to your account through ECS (Credit).
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Institutions like UTI, ICICI, and Tata Finance among others have already
commenced using ECS to make dividend payments. Considering the advantage to the investor and the
company, more companies are expected to follow suit.
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ECS (Debit/Rapid)
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No more waiting for the bill and no more wasting precious time and no more
hassles of going to the collection center.
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Our ECS (Debit/Rapid) service helps payment of bills an easy process. Through
ECS (Debit/Rapid), your electricity, water and telephone bills can now be directly debited to your
account, as and when you are billed.
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All you do is give a one time option to your utility company, including your
account details and then, the bills are sent not you but for direct debit to your account. And all
you receive is the periodical debit advice with the bill.
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To avail of this, you need to give the option letter to your utility company
and see that sufficient balance is maintained in your account to cover the bill amount.
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ECS (Debit/Rapid) is being used for electricity and telephone bill payments in
Mumbai and Chennai. The service is expected to be extended to all major city centres in due course
and shortly in the cities of:
Bangalore, Pune, Hyderabad, Delhi, Calcutta, Ahmedabad.
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Centres where ECS is extended:
Mumbai, New Delhi, Calcutta, Chennai, Ahmedabad, Hyderabad, Bangalore, Pune, Kanpur, Nagpur,
Jaipur, Chandigarh, Patna, Bhubhaneshwar, Guwahati and Thiruvananthapuram.
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Centres where ECS will be extended:
Lucknow, Coimbatore, Amritsar, Ludhiana and Baroda.
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ECS Payment - Returned unpaid through SB A/c is Rs.22/- per occasion. If
returned unpaid through CA/OD/CC A/c Rs.29/- per occasion.
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Electronic Funds Transfer: NEFT /RTGS
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NATIONAL ELECTRONIC FUNDS TRANSFER (NEFT
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( An electronic payment channel for funds transfer )
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National Electronic Funds Transfer (NEFT) system is an electronic funds
transfer system introduced by Reserve Bank of India (RBI) to facilitate banks to transfer funds
electronically from one customer account of a participant bank / branch to another customer account
of any other participant bank / branch. NEFT system uses the concept of centralised accounting system and gets
operated online. NEFT system also uses the state-of-art technology for communication,
security, etc. with the aim of offering better customer service.
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At present there are 6 time zones in which customers can transfer their funds
in NEFT on week days and 3 time zones on Saturdays.
The time zones are 9.00 AM, 11.00 AM, 12.00 Noon, 1.00 PM, 3.00 PM and 5.00 PM. The messages received from the Member Banks up to the above time zones are
consolidated and sent to Reserve Bank of India for inter-change and sending to the recipient
bank/branch for crediting to the recipient customer. The beneficiary gets the credit on the same day if the funds are remitted
in any time zone before 2.00 PM and on the next day latest for the remittances sent
after 2.00 PM time zone.
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A bank customer (i.e. sender) willing to avail of the remittance facilities
offered by a sending branch shall submit a NEFT application form authorising the
sending branch to debit the his account and transfer funds to the beneficiary specified in the NEFT
application form. The sender’s request for transfer of funds shall contain no condition other
than date on which funds transfer process should be initiated. One of the important information required for sending / receiving funds
transfer in the NEFT is Indian Financial System Code (IFSC) of the sending bank/branch and the
receiving bank/branch besides other details like name of bank, name of branch, sender’s name,
beneficiary’s name, sender’s account number, and beneficiary’s valid account number.
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There is no minimum and maximum amount criteria for effecting funds transfers
through NEFT. Customers can send any amount in multiples of rupees. In view of minimum amount criteria stipulated for RTGS, NEFT comes very handy for those
customers who want to send less than Rs. One lakhs funds transfer.
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Vijaya Bank has facilitated NEFT remittance / funds transfer facility in all
its Core Banking Solution Branches (CBS) .
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Customers can utilize NEFT as a good substitute remittance mode compared to
the traditional mechanism of DD, MT, etc. Desirous customers may contact any nearest
branch or the branch where they hold the account with Vijaya Bank Core Banking enabled
branches, for more details and to make use of NEFT facility. Facility is allowed
only for account holders of the Bank. Non-customers/Cash Customers are not allowed to use this
facility.
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Charges for NEFT are :-
o Rs.1/- per thousand or part
thereof.
o Minimum Rs.25/- and Maximum
Rs.2500/-
o RBI Charges, levied if any. (At
present there is no RBI Charges)
Please click the text below / links below for details / downloads on
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For any clarification, please send your mail to
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REAL TIME GROSS SETTLEMENT (RTGS)
( A quick mode to online funds transfer )
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Real Time Gross Settlement System (RTGS) is an Electronic Payment System – set
up, operated and maintained by Reserve Bank of India, for use by the all participating Indian Bank
Branches, to enable funds transfer and settlement, on real-time basis. Vijaya Bank is a
member of RTGS.
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TIMINGS FOR CUSTOMERS to submit RTGS requisition
: between 9.00 am to 4.00 pm - weekdays
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between 9.00 am to 12.00 noon - on Saturdays.
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RTGS timings for processing at RBI - from 9.00.am to 4.30 pm.
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RTGS system supports (a) customer related funds transfer and (b) Inter bank
funds transfer, amongst member bank branches participating in RTGS. Customers can send
and receive funds by way of RTGS messages. It is one of the quickest mode of funds transfer available
both for the Corporate and Individuals.
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As per the current rules of the remittance under RTGS, any amount which
is more than Rs.1.0 lakh (Rupees One Lakh), can be sent / received through RTGS.
One of the important information required for sending / receiving funds transfer in the RTGS
is Indian Financial System Code (IFSC) of the sending bank/branch and the receiving
bank/branch besides other details like name of bank, name of branch, sender’s name, beneficiary’s
name, sender’s account number, and beneficiary’s valid account number.
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Vijaya Bank has facilitated RTGS remittance / funds transfer facility in all
its Core Banking Solution Branches (CBS) .
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Customers can utilize RTGS as a good substitute remittance mode compared to
the traditional mechanism of DD, TT etc. Desirous customers may contact any nearest branch or
the branch where they hold the account with Vijaya Bank Core Banking enabled branches, for
more details and to make use of RTGS facility. Facility is allowed only for account holders
of the Bank. Non-customers/Cash Customers are not allowed to use this facility.
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Charges for RTGS are :-
o Rs.1/- per thousand or part
thereof.
o Minimum Rs.100/- and Maximum
Rs.2500/-
o RBI Charges, levied if any. (At
present there is no RBI Charges)
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Please click the text below / links below for details /downloads
For any clarification, please send your mail to
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