National Electronic Fund Transfer (NEFT)

NEFT is a payment system facilitating funds transfers from one bank account to another. One can access this service either by using Internet banking or by visiting the bank.

Real Time Gross Settlement (RTGS)

This is a facility used for transferring high value amounts. In real time gross settlement (RTGS), the minimum amount that can be currently transferred is Rs 2 lakh.

Customers can avail this facility from UPC Bank.

• RTGS/NEFT is one of the safest secure modes of fund transfer.
• Customer must be submitting below required Information.

Required Information

- Amount to be remitted

- Remitting customer's account number which is to be debited

- Name of the beneficiary bank

- Name of the beneficiary customer

- IFSC of receiving branch

- Account number of the beneficiary customer

Charges of RTGS / NEFT

-Free, no charge to be levied.

IFSC Code

UTIB0SUPCB1 (Fifth Character is Zero)

Immediate Payment Service (IMPS)

Immediate Payment Service was introduced in the year 2010 by the Indian government and is facilitated by the National Payment Corporation of India (NPCI). It is a service which enables you to make payments using your mobile number and completes the transactions immediately. IMPS uses the Aadhaar number or mobile number to connect to bank accounts and complete payments. Therefore, it is a secure method for transferring funds. In this article, we view the various aspects of IMPS in detail.

The Benefits of IMPS

The benefits of IMPS given to the consumers are as follows:

• The fund transfer can be done using MMID, Aadhaar number and mobile number.
• IMPS serves you with the Debit and Credit Confirmation by SMS immediately.
• Using IMPS the money will be credited in the beneficiary’s account within a few seconds.
• IMPS is safe, secure and cost-effective.
• IMPS has no minimum amount limit on transactions of funds.
• IMPS is available for 24 hours in a day and even on holidays.
• The customer can make intrabank as well as interbank payments.
• IMPS can be used on a mobile phone, internet banking and even ATMs.
• In IMPS it is not compulsory to know about beneficiary’s Account number and IFSC.

Usage of IMPS

IMPS can be utilised to avail many services. One of the government’s most recommended service *99# banking is also based on IMPS. You can apply IMPS to transfer fund through these mediums. Smartphone- Bank App

IMPS Process

IMPS utilises the mobile number or Aadhaar number to connect with a bank account. If fund transferred from one bank account to another bank account using IMPS, it initially connects you with your bank account with the help of your mobile number. IMPS differs from NEFT and RTGS, as it does not transfer funds immediately to the beneficiary’s account. It transfers the amount from your account to your mobile number. Then it transfers that fund from respective mobile number to beneficiary mobile number. And at finally from beneficiary’s mobile number to his or her account.

How to enable IMPS?

If the customer wants to transfer the fund through IMPS using mobile, then you are supposed to register for the mobile banking by filled separate application to activate the mobile banking.

If you are going to receive money through the IMPS method, the money would be credited to your account, and you will get SMS in your mobile. However, you can also get MMID from your bank to receive money quickly. MMID can be used instead of the bank account number and IFSC.

IMPS Charges

-Free, no charge to be levied.

UPI

The Uttarsanda Peoples Co.Op. Bank Ltd is live on UPI issuer mode, Now The Bank customers can link their Saving, Current accounts to UPI applications like BHIM, PhonePe, Google Pay, PayTM, Freecharge and many more….

Unified Payment Interface is a system that allows access to multiple bank accounts and services through a single device interface. You can set up your own UPI app simply through the mobile number registered with your respective bank A/c. With UPI, you can also send money to your friends and family instantly, without adding them as beneficiary first! The only eligibility requirements to link your accounts in UPI App are:

An active Savings or Current Bank Account operated as ‘Self, Either or Survivor, Anyone’.

Customer mobile number must be updated at customer and account level to link his/her accounts.

Active Debit Card linked to his/her account to set UPI PIN.

You can access various other features of your account like Balance Enquiry, Transaction History, Send/Collect Requests through the UPI App. So, what are you waiting for? Register for UPI soon!

After registration/setting UPI pin customer can do first transaction up to Rs.5ooo/- and after 24 hours of first transaction, transaction limit is Rs.50,000/- per day.