In-line with the Reserve Bank of India’s guidelines, Airtel Payments Bank customers will now be able use the National Electronic Funds Transfer (NEFT) facility at any time of the day. The facility will be available to customers on 24×7 basis even on holidays enabling then to receive or send funds to any bank from anywhere, anytime.
Airtel Payments Bank customers can transfer funds via NEFT using the banking section of the Airtel Thanks app or website of Airtel Payments Bank. They need to select ‘Transfer Money’ option followed by ‘transfer to Bank’. A screen to register beneficiary will appear. Once the beneficiary registration process is completed, customer can easily transfer the money.
Mr. Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said, “We are committed to provide customers with an efficient and smooth banking experience. We welcome the RBI mandate as it will allow our customers to easily transfer the money to any bank account at any time using NEFT mode. This will add to the overall online banking experience for the customers.”
Airtel Payments Bank offers a host of solutions like UPI, IMPS, debit card and wallet to make digital payments and money transfers.
Airtel Payments Bank, launched in January 2017, now boasts of a physical presence in all 29 states of the country through its 500,000+ banking points. Out of these, over 60,000 focus on insurance and pension products in an attempt to reach the underserved. India’s first payments bank, it currently facilitates transactions worth 500 billion annually with a user base of over 40 million customers. In addition to its physical banking points, Airtel payments Bank also offers its banking services through its Android and iOS apps. In line with the Government’s vision of Digital India and Financial Inclusion, Airtel Payments Bank is striving to take digital banking services to the doorstep of every Indian, even in the remotest of rural areas.