Mumbai: Barclays Global Retail and Commercial Bank (GRCB) India, part of British banking group Barclays, on Wednesday said it has enhanced its online banking service with National Electronic Funds Transfer (NEFT) facility.
Through this, Barclays account holders can conveniently transfer funds faster to any bank account in India over a secure platform, a release said.
The funds will be transferred to the beneficiary’s bank using the Reserve Bank’s payment interface. Customers who have registered for online banking services would need to provide relevant details of the beneficiary bank to initiate the transaction, the release said.
There will be a daily transfer limit of Rs49,999 and the transactions will be processed in two batches with a turnaround time of 24 hours or the same working day depending on the batch in which the transaction is captured.