Online Money transfer in India

Demonetisation brought great changes in India. Demonetisation not just changed notes but even changed the way we make payments. Various digital payment methods came into lightfor cashless money transaction. Nowadays, there are different methods which are being used for transactions,such as NEFT, RTGS, e-wallets, UPI and many more.

1. UPI :

Unified Payments Interface (UPI) provides the facility for money transfers from smart phones. One just needs UPI enabled applications in any smartphone for transactions using Virtual Payment Address. It is instantaneous method for fund transfers which requires no IT skills. This method does not depend on banks’ working hours for transferring the amount.  Moreover, UPI does not have transaction charges.

There are also some limitations of UPI. Firstly, the maximum amount of money transfer is Rs. 1 lakh. Secondly, it does not provide international transactions.

2. NEFT :

The National Electronic Fund Transfer is one of the most widely used method to transfer funds from one bank account to another. This method works on deferred settlement basis i.e, the money is transferred in batches. To transfer money, both customer bank branches should be NEFT-enabled. Every bank has set a limit for NEFT transfer.In addition, there is no minimum amount limit of money transfer but maximum amount is not more than Rs10 lakh.
Only limitation of this method is that money transfer is not instantaneous. Even this facility is only convenient on banks’ working days.

3. RTGS :

The Real Time gross settlement (RTGS), that provides large amount of money transfers. The banks should be RTGS enabled,it roughly takes 30 minutes. The money transfer amount limit is minimum Rs. 2 lakh and it has no upper limit.But,the fund transfer is available only in working hours of respective banks. The time taken to transferring the money is based on real time. Moreover, one can avail the services of international transfers. But ,this method is requires some transaction cost for fund transfers

For more info, visit:http://paymonk.com

https://en.wikipedia.org/wiki/Payment_and_settlement_systems_in_India

226 thoughts on “Online Money transfer in India”

  1. Having rеad this I believed it was very informative. I appreciate yоu finding the time and effort to put this informative article together.

    I once again find myself spending way too much time both reading and posting comments.
    But sо what, it was still worth іt!

  2. Wonderful work! That is the kind of information that should be shared around the internet.
    Disgrace on the search engines for now not positioning this post higher!
    Come on over and seek advice from my web site . Thank you =)

  3. This is very interesting, You are a very professional
    blogger. I have joined your feed and look forward to looking for
    more of your fantastic post. Additionally, I’ve shared your site in my social networks liverpool trøje salg

  4. Great blog! Do you have any tips for aspiring writers?
    I’m hoping to start my own blog soon but I’m a little lost on everything.
    Would you suggest starting with a free platform
    like WordPress or go for a paid option? There are so many
    choices out there that I’m completely confused .. Any ideas?
    Thanks a lot!

  5. Many thanks spending some time to discuss this important, I find myself really do onto it and furthermore enjoy looking over read more about doing this idea. Whenever capabilities, simply because pull off skills, might you imagination bringing up-to-date a internet page by using extra info? This is a good choice for people.

  6. Nice blog! Is your theme custom made or did you download it from somewhere?
    A design like yours with a few simple adjustements would really make my blog
    jump out. Please let me know where you got your design. Appreciate it

  7. I am extremely inspired with your writing skills and also
    with the format in your weblog. Is that this a paid theme
    or did you customize it your self? Anyway keep up
    the excellent high quality writing, it is uncommon to look a great weblog like this
    one these days..

  8. What i do not understood is in reality how you’re no longer actually much
    more well-appreciated than you may be now. You’re very intelligent.
    You know therefore considerably relating to this subject,
    made me for my part believe it from so many various angles.
    Its like men and women are not fascinated unless it is
    something to do with Woman gaga! Your personal stuffs nice.

    At all times handle it up!

  9. I just want to say I am very new to blogs and truly savored you’re web site. More than likely I’m likely to bookmark your website . You amazingly come with superb articles and reviews. Regards for sharing your webpage.

  10. I wish to show thanks to this writer for rescuing me from this particular instance. Just after scouting throughout the online world and coming across tips that were not powerful, I thought my entire life was done. Living without the strategies to the problems you’ve sorted out by means of the website is a critical case, and the ones which may have negatively affected my career if I hadn’t come across your web page. Your primary capability and kindness in dealing with a lot of things was helpful. I don’t know what I would’ve done if I had not come upon such a subject like this. I can also at this point look ahead to my future. Thank you very much for the skilled and sensible guide. I will not think twice to recommend your site to any individual who desires guide on this subject matter.

  11. I like what you guys are up also. Such clever
    work and reporting! Keep up the excellent works guys I have incorporated you guys
    to my blogroll. I think it will improve the value
    of my website :).

  12. I hardly drop responses, however i did a few searching and wound up here Online Money transfer in India –
    Paymonk Blogs. And I actually do have a couple of questions for you
    if you do not mind. Could it be just me or does it look like some of the comments look as if they are left by brain dead
    visitors? 😛 And, if you are posting at other
    online social sites, I’d like to follow everything new you have to post.
    Would you make a list of the complete urls of your social
    sites like your linkedin profile, Facebook page
    or twitter feed?

  13. I think everything published made a great deal of sense.
    However, think about this, suppose you typed a catchier title?

    I am not suggesting your information is not good., however what if you added a title to possibly grab folk’s attention? I mean Online Money transfer in India
    – Paymonk Blogs is a little vanilla. You could look at Yahoo’s home page and see how they create news headlines to get people interested.
    You might add a related video or a picture or two to grab readers excited about everything’ve got to say.
    Just my opinion, it could make your posts a little
    bit more interesting.

    Here is my webpage; diagram (http://haa.su/Xqa)

  14. I think what you posted made a bunch of sense. However, what about this?
    what if you typed a catchier post title? I am not saying your
    information isn’t good, but suppose you added a post title that grabbed people’s attention? I mean Online Money transfer in India – Paymonk Blogs is a little plain. You ought to look at Yahoo’s home page
    and see how they write news headlines to grab people interested.
    You might add a related video or a related pic or two to get people interested about what you’ve got to say.
    In my opinion, it could make your blog a little livelier.

    Feel free to surf to my webpage :: exam [Noella]

  15. As I site possessor I believe the content material here is rattling wonderful ,
    appreciate it for your hard work. You should keep it up
    forever! Good Luck.

    Also visit my web-site – soft; 9m.no,

  16. I like what you guys are up too. Such smart work and reporting! Carry on the excellent works guys I have incorporated you guys to my blogroll. I think it will improve the value of my website :).

  17. Somebody essentially lend a hand to make significantly posts I’d state. This is the first time I frequented your web page and up to now? I amazed with the research you made to make this particular post amazing. Wonderful job!

  18. I’ve been browsing online more than three hours today, yet I never found any interesting article like yours. It is pretty worth enough for me. Personally, if all webmasters and bloggers made good content as you did, the web will be a lot more useful than ever before.

  19. I must thank you for the efforts you’ve put in writing this blog.
    I’m hoping to view the same high-grade content from you later on as well.

    In truth, your creative writing abilities has inspired me to get my own blog now
    😉

  20. I have been browsing online more than 3 hours today, yet I never found any interesting article like yours. It’s pretty worth enough for me. In my opinion, if all webmasters and bloggers made good content as you did, the internet will be much more useful than ever before.

  21. We’re a group of volunteers and opening a new scheme in our community. Your website provided us with valuable info to work on. You’ve done an impressive job and our whole community will be thankful to you.

  22. Hello There. I found your blog using msn. This is an extremely well
    written article. I will make sure to bookmark it and come back to read more of your useful information. Thanks
    for the post. I will certainly return.

    Have a look at my website soft (cutt.ly)

  23. I simply couldn’t depart your web site before suggesting that I extremely enjoyed the standard information an individual supply in your visitors? Is gonna be again often in order to investigate cross-check new posts.

  24. Excellent website. Lots of useful information here. I’m sending it to a few buddies ans additionally sharing in delicious. And of course, thanks in your sweat!

  25. You are so interesting! I do not believe I’ve read through something like that before. So nice to discover another person with original thoughts on this issue. Really.. thanks for starting this up. This site is something that is needed on the web, someone with a bit of originality!

  26. I blog often and I seriously appreciate your information. The article has really peaked my interest. I will bookmark your website and keep checking for new information about once per week. I subscribed to your Feed too.

  27. I’ve been browsing on-line more than three hours nowadays, yet I never found any interesting article like yours. It is beautiful worth enough for me. In my view, if all webmasters and bloggers made good content material as you probably did, the internet can be a lot more helpful than ever before. “Wherever they burn books, they will also, in the end, burn people.” by Heinrich Heine.

  28. Great work! This is the kind of info that are meant to be
    shared around the internet. Disgrace on Google for not positioning this publish upper!

    Come on over and seek advice from my web site .
    Thank you =)

    Also visit my webpage … exam; v.gd,

  29. Hey There. I found your blog using msn. This is an extremely well written article.

    I’ll make sure to bookmark it and come back to read more of your useful information. Thanks for the post.
    I’ll definitely return.

    My web-site: answers; darknesstr.com,

  30. I have been absent for some time, but now I remember why I used to love this website. Thanks, I will try and check back more often. How frequently you update your website?

  31. Hi there! Someone in my Facebook group shared
    this site with us so I came to look it over. I’m definitely loving the information. I’m book-marking and will be tweeting this to my followers!
    Outstanding blog and outstanding design and style.

    Have a look at my website answers

  32. Keep up the superb piece of work, I read few posts on this site and I think that your website is rattling interesting and contains
    bands of good info.

    Have a look at my web site … exam

  33. This is really interesting, You’re a very skilled blogger. I have joined your feed and look forward to seeking more of your wonderful post. Also, I have shared your web site in my social networks!

  34. You actually make it seem so easy with your presentation but I find this matter to be really something that I think I would never understand. It seems too complex and very broad for me. I’m looking forward for your next post, I’ll try to get the hang of it!

  35. Its like you read my mind! You appear to know so much about this, like you wrote the book in it or something. I think that you can do with some pics to drive the message home a bit, but instead of that, this is magnificent blog. A great read. I’ll certainly be back.

  36. I really like what you guys are up too. Such clever work and reporting!
    Keep up the great works guys I’ve incorporated you guys to blogroll.

    Also visit my webpage – exams [Elaine]

  37. Hello very nice site!! Guy .. Beautiful .. Superb ..
    I will bookmark your blog and take the feeds additionally?
    I’m satisfied to seek out a lot of useful information right
    here in the put up, we need develop more techniques on this regard,
    thanks for sharing. . . . . .

    Look at my web site answers

  38. Thank you, I’ve just been looking for info about this topic for a long time and yours is the best I have came upon so far. However, what about the conclusion? Are you positive in regards to the source?

  39. Thanks, I have just been looking for info approximately this topic for a while and yours is the greatest I have discovered so far. However, what in regards to the conclusion? Are you certain in regards to the source?

  40. Thanks so much for giving everyone a very terrific opportunity to read from this web site. It is often so ideal and jam-packed with a lot of fun for me and my office mates to search your blog really three times in a week to read the fresh guides you will have. And indeed, I am at all times fascinated concerning the sensational thoughts served by you. Selected 2 ideas in this post are definitely the most effective I have ever had.

  41. Hey very cool web site!! Guy .. Beautiful ..
    Amazing .. I will bookmark your blog and take the feeds also?
    I’m happy to find so many useful information right here within the submit, we
    need work out more techniques in this regard, thank you for sharing.

    . . . . .

    Here is my web site; code (Melva)

  42. Hello my friend! I want to say that this article is amazing, great written and include almost all vital infos.
    I’d like to see more posts like this.

    my site :: exams centred; Tanja,

  43. I as well as my buddies were actually looking at the nice solutions located on your website and all of a sudden got a horrible feeling I never expressed respect to the web blog owner for them. The guys had been very interested to study them and already have actually been enjoying these things. I appreciate you for being indeed considerate as well as for considering variety of tremendous issues millions of individuals are really eager to be informed on. My personal sincere apologies for not expressing gratitude to sooner.

  44. I wish to voice my affection for your kind-heartedness for people that need help on this content. Your special dedication to passing the solution up and down was exceedingly invaluable and have continually permitted most people much like me to get to their dreams. Your new interesting instruction means a whole lot to me and further more to my fellow workers. Best wishes; from everyone of us.

  45. I like what you guys are up also. Such smart work and reporting! Keep up the superb works guys I have incorporated you guys to my blogroll. I think it will improve the value of my website :).

Leave a Reply

Your email address will not be published. Required fields are marked *