Citibank NEFT

Citibank, which is one the leading Foreign Bank also provides an electronic method of fund transfer through internet banking by various modes such as NEFT, RTGS and IMPS. If you want to transfer funds through Citibank NEFT, you need to have required bank details, including the IFSC code of the recipient's Bank. There is no cap on the minimum and maximum amounts of funds that can be transferred. However, in cases when there is in-person cash-based remittance within India, the maximum cap is ₹ 50,000.

Citibank NEFT or National Electronic Funds Transfer is the inter-banking facility maintained under RBI to transfer funds within the country. It is based on Deferred Net settlement which means the amount is credited in hourly batches along with the other payments for all the requests received in 30 minutes.

To transfer funds through Citibank NEFT to another bank account, you need to follow the below-mentioned steps:

• Next, click on "To Other Bank Account"- "Make Payment Now" in front of the payee name and select "Immediate Transfer (IMPS)" mode to transfer funds using IMPS method.
• Accept the terms and conditions and now click on the "Confirm" option.
• Now under the Banking tab click on "Transfer Funds" from the sidebar.
• Login to Citibank online and enter information such as payee account number and IFSC code to add as a payee.
• Now, choose the account, enter the amount, and click on "Continue".
• If you want to make payment using NEFT/RTGS method, enter details of the beneficiary bank, branch and location or provide the IFSC code, to identify the destination branch.
• Now the bank will send an OTP. Use the OTP to authorize the payee and complete the transaction.

To make credit card bill payment through Citibank NEFT, follow the below-mentioned steps:

• Firstly log in to the internet banking account by entering your user name and password.
• Add your credit card as the beneficiary to make the credit card bill payment. You can find this option under third party transfer.
• Now, provide the IFSC code of the credit card and enter the 16-digit Citibank Credit Card number in place of the account number.
• Next, enter the bank name and enter the bank address of the credit card company/bank and click the submit button to make payment.

There are no transfer charges to receive money through NEFT. However, the person doing the transactions may have to bear certain charges depending on the Bank. The NEFT money transfer facility is available for NRE/ NRO accounts in the country.

Transaction Type	NEFT Charges
Mobile and Internet Banking	Nil
Bank Branch	Nil

To transfer funds through Citibank NEFT, you would require the following details.

• Name of the beneficiary
• Amount to be transferred
• Customer’s account number
• Name of the beneficiary’s Bank
• IFSC code of the Bank’s branch
• Account number of the person making the payment.

You can transfer funds through Citibank through mobile/internet banking or by visiting the bank branch. The users can transfer funds through NEFT, as mentioned below:

Banking Days	NEFT Timings
Monday to Friday & Working Saturday	24*7

As per the RBI guidelines, there is no cap on minimum amount and maximum for fund transfer through Citibank NEFT. However, you can transfer up to ₹ 25 Lakhs on Citibank NEFT, through Citibank Internet Banking.

The system of NEFT fund transfer provides the following features and benefits for fund transfer to the customers:

• NEFT Limit: There is no minimum limit for fund transfer under NEFT.
• Transfer Modes: You can transfer funds through NEFT by offline and online methods. To transfer funds offline, you need to visit the bank, and you can also transfer funds through net banking.
• No risk: As all NEFT transactions in India are regulated by the RBI, hence making it a highly reliable channel.
• Reliable and efficient process: It is very easy and convenient to transfer funds through Citibank NEFT.
• Cost-effective: The processing fee and charges are very low for Citibank NEFT and hence is one of the most common channels to send funds.

✅What is the charge for Citibank NEFT?

If you want to transfer funds through Citibank NEFT, you need to bear charges based on your transaction amount. While the charges for NEFT fund transfer through mobile/internet banking are Nil, you need to bear transaction charges of Nil, if you want to do NEFT fund transfer through Citibank branch.

✅What is NEFT transfer in Citibank?

Citibank, which is one of the leading Foreign Bank, provides an electronic method of fund transfer based on deferred net settlement wherein the amount is credited in hourly batches along with the other payments for all the requests received in 30 minutes.

✅How much time does it take for NEFT transfer in Citibank?

All transactions done through Citibank NEFT are credited in hourly batches. So all requests received in 30 minutes are credited together.

✅How much money can be transferred through Citibank NEFT in a day?

There is no limit for the minimum and maximum amount that can be transferred through Citibank NEFT.