RTGS (Real Time Gross Settlement) is a digital money transfer system where the money is transferred within 30-60 minutes time span. Yes Bank is also offering this electronic payment option to its account holders. RTGS is beneficial for transferring a high volume of funds in the least amount of time. The minimum amount which can be transferred using RTGS services is Rs 2 lakhs. Yes Bank account holders can perform RTGS transactions by filling the Yes Bank RTGS Form.
These transactions take place on a real time basis and are carried out directly on the books of Reserve Bank of India. For this reason, once the payment is made, the same cannot be revoked. Yes Bank RTGS transactions are flexible and account holders can perform it online from the comforts of their home or office. They can visit the bank website or mobile app of Yes Bank to initiate online RTGS transactions. Senders can also visit the bank branch, fill up the Yes Bank RTGS Form and deposit cash or cheque to initiate RTGS; there is also option of direct debit from the bank account. If the account holder is depositing cash, a pay slip must be submitted along with the RTGS form.