POSB account holders can use the NEFT/RTGS service starting from May 31, 2022. This feature is currently under trial
POSB RTGS/NEFT: The Department of Posts (DOP) has launched NEFT and RTGS service for post office savings account holders to do digital transactions. These facilities have been started under the supervision of the Ministry of Communications. POSB account holders can use the NEFT/RTGS service starting from May 31, 2022. Currently the trial of this feature is going on.
According to a statement, the Department of Posts said, “This is with regard to the rollout of NEFT/RTGS facility for POSB accounts which is going to be operational for POSB account holders from 31.05.2022. NEFT/RTGS to POSB account holders.” Publicity about the facility may be made through notice boards of all post offices in public areas.
NEFT/RTGS Charges and Limit on Post Office Savings Account
– Rs 2.50 + GST for transactions up to Rs 10,000
– Rs 5 +GST for transactions above Rs 10,000 and up to Rs 1 lakh
– Rs 15 +GST for transactions above Rs 1 lakh and up to Rs 2 lakh
– Rs.25 +GST for transactions above Rs.2 lakh
Key Features of NEFT and RTGS Facility
- No charges are levied for outward NEFT transactions initiated through e-banking and m-banking channels.
- The minimum and maximum charges per transaction for NEFT remittance over the counter are Rs.1 and Rs.15,00,000.
- The limit for outward NEFT through e-banking and m-banking channels is Rs 2,00,000 per transaction.
- Its daily transaction limit is five. The daily transaction limit for outward NEFT initiated through e-banking and m-banking service is Rs.10,00,000/-.
- There is a time variable transaction capping for e-banking and m-banking to reduce the risk of fraud.
How to complain in Post Office NEFT/RTGS?
- Complaints can be made through India Post customer care number 1800 2666 868.
- A complaint can be lodged under Financial Services, Savings Bank Service in India Post website https://www.indiapost.gov.in/VAS/Pages/ComplaintRegistration.aspx.
- Through SP-CRM in any post office branch.
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