Oriental Bank of Commerce is offering the facility of wire transfer through NEFT and RTGS systems. Both these systems are employed in order to facilitate the efficient, Secure, reliable and economical system of funds transfer as well as clearing in the banking sector across the India. It offers major benefits related to paper based system of funds transfer.
(1) Customers are required to apply for funds transfer by submitting a request and filling up a form that is available in CBS Branches in addition to cheques and Debit instructions to the branch.
(2) The customer needs to submit the complete details such as beneficiaries account number, Name of the remitting Bank, IFSC code the Bank branch. The IFSC code is basically an eleven digit code that is provided to branches of banks that are participating in RTGS.
There are no charges applied for the Inward NEFT.
The fee$s For Outward Transactions is as follows:
Rs. 5 per transaction – Up to Rs. 1 Lakh
Rs.25 per transaction – Rs 1 lakh and above
There is no upper value limit for processing an individual NEFT transaction.
There are certain eligibility criteria in place for carrying the Customer Transactions
(1) The facility of fund Transfer via NEFT is available for the customers who have operative account in the Oriental Bank of Commerce such as Savings Bank, Current Account.
(2)Those customers that have CC / OD account are also eligible subject to ensuring of end use of funds.
(3) The Outward / Inward remittance is provided to the customers at all CBS branches of OBC.
(4) Customers who do not have account with Oriental Bank of Commerce cannot avail this service.
For further details about wire transfer through Oriental Bank Of Commerce, you can browse the link below.