You may still have to visit your bank branch for making high-value transactions2 min read . Updated: 10 Sep 2020, 10:53 AM IST
- Banks put a cap on daily fund transfer in order to limit the risk of the customer in case of a wrongful transaction or fraud.
- However, as per RBI regulations, there is no cap on the amount of money one can transfer through NEFT and RTGS.
The covid-19 pandemic is spreading rapidly as cases spike with each passing day. With social distancing becoming the new normal, customers may find it difficult to carry out high-value transactions through the bank’s mobile application or website because banks impose a limit to mitigate risks.
Select your Category