J&K bank offers Real Time Gross Settlement (RTGS) payments and collections as a speedy, convenient, cost-efficient and secure method to move large value funds across the country. This offering is based on Reserve Bank of India's (RBI) RTGS payment system.
 

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.
 

• RBI’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 31,000+ bank branches participate in NEFT (as at October 07)

• 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