What is Video KYC & How Does it Work?
Posted on Wednesday, September 25th, 2024 |
Tired of bank queues just to open a savings account? Video KYC is here to save the day! Opening a savings account typically involves a lot of steps, with one of the most crucial being the Know Your Customer (KYC) process. This is a mandatory procedure for banks to prevent identity theft, financial fraud, and…
Read moreWhat is the Difference Between NEFT, RTGS, and IMPS?
Posted on Wednesday, September 25th, 2024 |
When it comes to transferring money, several electronic methods make the process fast and efficient. Three of the most used systems are NEFT (National Electronic Funds Transfer), RTGS (Real-Time Gross Settlement), and IMPS (Immediate Payment Service). The Reserve Bank of India (RBI) introduced NEFT and RTGS systems, whereas IMPS was launched by the National Payments…
Read moreWhat is an IMPS Reference Number and How to Track IMPS Transactions?
Posted on Wednesday, September 25th, 2024 |
Have you ever performed an online transfer and wondered, “What is an IMPS number and how to check IMPS transaction details?” Immediate Payment Service (IMPS) is a fast and convenient mode to transfer funds. You receive a unique IMPS reference number when you perform an IMPS transaction. This number is essential for tracking your transactions…
Read moreWhat is IFSC Code? Full Form, Importance and How to Find
Posted on Wednesday, September 25th, 2024 |
IFSC code is a code that uniquely identifies a bank branch and is important for making financial transactions. This 11-character code assists in routing fund transfers efficiently and accurately via NEFT, IMPS, and RTGS systems. Without the right IFSC code, your electronic payment could be delayed or even fail. To perform electronic payments, you must…
Read moreDemand Draft: Meaning, Types, How It Works, and Benefits
Posted on Monday, September 23rd, 2024 |
Have you ever faced a situation where a cheque or cash payment was not accepted? For instance, many educational institutions require payment through a Demand Draft (DD) instead. Curious to learn more about how demand drafts work and why they are a preferred method of payment. Continue reading as we delve into the details of…
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