Safe and Secure Ways for Online Money Transactions

You are completely crawling in the internet era where anything and everything becomes easy go. Money transactions especially in the business world, which happens on daily basis needs to be easy and secure. Through they are several online money transaction processes existing in current not all seems to be well secured because of increasing cyber thefts. Here are the ways to transfer your money in a safe and secure than you do by drafts and cheques.

Online Money Transactions

You may be directing all your incoming cashes to your bank account. Likewise, you can also drop money at ease from your account to your recipient account within India by using two super-systems called NEFT and RTGS. These 2 ways are more safe and secure even if you go wrong (mistake in name or account. number) while transferring, gets back your cash absolutely to your account.

NEFT

One smart way for safe and secure online money transaction is via National Electronic Funds Transfer (NEFT) is acronym of NEFT. Transferring money through NEFT doesn’t have limit on amount. But it is advisable to go up to Two lakh rupees. Even more you can choose the other way (RTGS) for high amount transactions. While transferring money from your account to recipient account, NEFT will not make it in an instant. These instructions stores in the system processes on hourly basis (9am-7pm on weekdays and till 1 pm in Saturdays). You need to have a bank account with the transferring bank. But in this case it is limited to transfer to the maximum of 50,000 rupees.

RTGS

RTGS is the acronym of Real-Time Gross Settlement which is the secure and smart way for large money transactions. Here cash transferred is processed on real-time as the acronym suggests. Transferring money through online via RTGS goes simply easy yet well secure.

How to Make Cash Transfers With Them?

To send money online with these safe way transactions you need to make necessary approach to your bank by applying in a particular form. Most banks have come up with this facility of cash transactions that is made via net banking. You need to fill up clearly name, account number, bank name, branch and Indian Financial System Code (IFSC) of the cash recipient. IFSC code will be denoted as mentioned in the every leaf of receiver’s cheque book. If the money transactions end up with mistake regarding name and account number, transaction gets cancelled and cash remains on your account. Now drive your online transactions in a safe and secure way.