The beneficiary can expect to get credit for the NEFT transactions within.....business hours.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The beneficiary can expect to get credit for the NEFT transactions within____business hours.

A	two
B	three
C	one
D	four

Explanation:

Detailed explanation-1: -The beneficiary bank must credit the beneficiary’s account within 30 minutes of receiving the funds transfer message, according to the RBI FAQs. The amount will be reversed to the sender’s account by originating Bank.

Detailed explanation-2: -A standard NEFT payment will take up to two hours for the amount to be credited to the beneficiary’s account. However, in some cases, it may take more time, and it is best to check with the CFC in case of further delays.

Detailed explanation-3: -Ans: The remitter and the beneficiary can track status of NEFT transaction by contacting NEFT Customer Facilitation Centre (CFC) of their bank, respectively. Details of NEFT CFCs of banks are available on the websites of the respective banks.

Detailed explanation-4: -It takes 24 hours for the same. Once the beneficiary is added in the list, you select the same and enter the amount that needs to be transferred. Confirm the transaction and the amount will be transferred.

There is 1 question to complete.