In today’s fast-paced world, transferring money online has become a necessity. IDFC First Bank provides a seamless and secure way to transfer funds using NEFT (National Electronic Funds Transfer) through its mobile banking app. Whether you need to send money to a friend, pay for services, or manage business transactions, NEFT offers a reliable option for both small and large amounts.
This step-by-step guide will help you understand the entire process, starting with adding a beneficiary to your account and then transferring money via NEFT. With just a few taps on your smartphone, you can enjoy hassle-free banking and ensure your money reaches its destination quickly and safely.
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How to NEFT Transfer in IDFC First Bank Account from Mobile Banking
Are you looking to transfer money using the NEFT method from your IDFC First Bank account via mobile banking? This guide will walk you through the process, starting with adding a beneficiary (payee) and then initiating a seamless NEFT transfer.
Step 1: Add the Beneficiary Bank Account as a Payee
Before initiating an NEFT transfer, you need to add the recipient’s account details to your IDFC First Bank mobile banking account. Here’s how to do it:
(1) Log in to the IDFC First Bank Mobile App: Open the app and tap on the Bank Transfer option.
(2) Choose the Recipient’s Bank: On the next screen, select the bank where the beneficiary holds their account and proceed.
(3) Enter Payee Details: Provide the beneficiary’s account number, IFSC code, and name on the subsequent screen.
(4) Select “Add Payee & Transfer Later”: Confirm the details and tap Proceed.
(5) Verify with OTP: Enter the OTP sent to your registered mobile number and submit the request.
(6) Success! The payee has been added.
Important Notes:
(1) For newly added payees, you can transfer up to ₹30,000 within the first 24 hours using NEFT.
(2) After 24 hours, the transfer limit increases up to ₹20 lakh.
If you plan to transfer a large amount exceeding ₹25,000 (up to ₹20 lakh), wait for the 24-hour cooling-off period after adding the payee.
Step 2: Transfer Money via NEFT from IDFC First Bank Mobile Banking
Once the payee has been added, you can transfer money using the NEFT payment method. Follow these steps:
(1) Navigate to Bank Transfer: Open the mobile app and go to the Bank Transfer option.
(2) Select the Payee: Choose the added payee from your list of beneficiaries and proceed.
(3) Enter the Transfer Amount: Specify the amount you wish to transfer (up to ₹20 lakh). Then select Pay Now.
(4) Choose NEFT as Payment Method: Select NEFT from the available options and tap Pay.
(5) Authenticate with MPIN: Enter your MPIN to confirm the transaction.
(6) Congratulations! Your NEFT transfer is successful.
Key Details about NEFT Transfers
(1) NEFT transfers are processed within 1 hour, ensuring quick and secure transactions.
(2) A confirmation SMS will be sent to your registered mobile number once the funds are credited to the recipient’s account.
By following these steps, you can easily transfer money using NEFT from your IDFC First Bank account. Whether you need to transfer small or large amounts, the mobile banking app offers a user-friendly platform for seamless transactions.