We are living in a world where things are getting online. The most common thing which is there on the internet is the transfer of money. Thankfully to interbank fund transfer system, our life has become much simpler. Through some various methods, we are able to transfer money whenever needed. There are two ways of transferring money through the internet-– RTGS and NEFT. We will be discussing these two in detail in this article and then find out the differences between them. Also, how you are able to check the transaction status of your statements with these two methods.

What is NEFT?

Going by the full form of this, it stands for National Electronic Funds Transfer. It is an online system for transferring funds from one financial institution to another usually in banks within India. It is fast spreading as the means of sending and receiving money and replacing cheque. It is a quick, transparent and easy manner of sending your funds. Now how to check your RTGS vs NEFT transaction status? You would be able to know if your transaction has been completed through:


  • SMS


It is one of the most efficient methods of checking about the status of your NEFT transaction. It is very easy and instant.


  • E-mail


Email is also a feature which is through which you can also get the status of your transaction.


  • Contact the bank


In case you are finding it difficult to get in touch with the transaction status, you can directly contact your bank and ask for everything you want to know.

What is RTGS?

Going by the full form of this, it stands for Real Time Gross SettlementIt is a funds transfer system where money is moved from one bank to another in ‘real-time’ and on a gross basis. The word real time here means that the movement of funds will be done instantaneously, there will not be any waiting or lagging in that. Not only this, if you want the fastest means of transferring funds electronically, it is suggested. 


  1. The minimum of Rs. 2 lakhs is the permissible amount in RTGS while there is no minimum of the amount of money which is needed to be transferred through NEFT system. There is no limit of the maximum amount of money to be transferred in both the systems.
  2. There are the retail timings of transferring money in both the systems. For RTGS, it is Monday through Friday – 09:00 hrs to 16:30 Hrs and Saturday – 09:00 hrs to 13:30 Hrs. For NEFT, it is Monday through Friday – 08:00 hrs to 19:00 hrs, working Saturdays – 08:00 hrs to 19:00 hrs, 2nd & 4th Saturdays – no transactions.
  3. The settlement is done over batches in NEFT whereas in RTGS it is done in real time (faster).
  4. Charges as per RBI norms in NEFT, up to 10,000 – Rs. 2.5, from 10,001 – 1 lac – Rs. 5, from 1 – 2 lacs – Rs. 15, above 2 lacs – Rs. 25. In RTGS, it is Rs. 25-30 (Up to 2 – 5 lacs), Rs. 50-55 (Above 5 lacs). The charges are lower for the first half of the day.

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