J&K Bank’s Important Massage
J&K Bank’s National Electronic Funds Transfer (NEFT) service will not be available from 00:00 Hrs to 06:00 Hrs on Saturday, 08 July 2023 as the Jammu and Kashmir Bank will undertake a technical upgrade of the service.
J&K Bank’s New Mpay Application 2023
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Due to upgradation of system, our NEFT services will not be available from 00:00 Hrs to 06:00 Hrs on 08.07.2023. Inconvenience regretted. JK BANK
NATIONAL ELECTRONIC FUND TRANSFER (NEFT) – FEATURES
J&K Bank offers National Electronic Fund Transfer (NEFT) payments as a speedy, convenient, cost-efficient and secure mechanism to move funds across the country. This offering is based on RBI’s NEFT system.
- BI’s NEFT guidelines mandate the beneficiary bank to credit the beneficiary’s account or return the funds, within the same day for transactions processed before a stipulated cut-off time
Smooth, safe and fastest mode of transferring money across the banks in India - There is no floor or cap on the amount of transfer in NEFT, means you can transfer from an amount as small as one rupee to any amount
- NEFT is an effective collections mechanism as funds from across the country can be collected & credited to your account on the same day
- Efficient mechanism for outstation payments and collections. Payments can be made to or received from across the country on a same-day basis
- Over 1,00,000+ bank branches participate in NEFT (as on Feb 2014)
- Efficient working capital management by enabling negotiation of better terms with suppliers and by facilitating speedy collection of funds
- Simplifies account reconciliation due to predictability of fund flow
- Savings of time and cost involved in physical dispatch of cheques to beneficiaries, deposits of cheques by beneficiaries with their banks & clearing of these cheques
- Reduces chances of frauds typically associated with paper-based payments
- For charges please refer Service Charges Schedule.
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