Financial institutions in India continuously innovate fund transfer methods to meet the evolving needs of individuals and businesses. Over time, digital payment modes like UPI, net banking, mobile banking, and NEFT have gained widespread popularity in India. However, RTGS (Real Time Gross Settlement) remains a preferred choice for high-value transactions due to its speed and security.

In this blog, we will guide you through the process of carrying out offline RTGS transactions with the Bank of India. Learn how to download, fill out, and submit the Bank of India RTGS form to transfer funds seamlessly through a bank branch.

What Is The Bank Of India RTGS Form?

The Bank of India RTGS form is a mandatory document for initiating high-value offline fund transfers via RTGS from a BOI branch. Customers can obtain it at the branch or download it from the bank’s website, fill in the required details, and submit it along with the payment to complete the transaction.

How To Download The Bank Of India RTGS Form?

You can get a physical RTGS form by visiting your nearest bank branch and requesting a remit application form. Alternatively, you can go to the bank's official website and download this form by following these steps:

• Go to the Bank of India official website and select ‘English’. 
• Scroll to the bottom of the homepage until you find ‘Other Links’ and click ‘Downloads’.
• Select ‘Certification Format, Digital Transactions’ > ‘Digital Transaction & Forex Forms’ > ‘RTGS/NEFT Application Form’.
• Click on the download option to print a copy of the Bank of India RTGS form PDF.

How To Fill The Bank Of India RTGS Form?

Start by downloading the BOI RTGS form from the bank’s official website and getting a clear printout of the form with clear and legible text. Then, follow the given steps to fill out this form:

• Write the date and branch name.
• Fill out the remitter’s details, including your name, account number (through which you will transfer funds) and type of account. 
• Fill out the beneficiary section by writing down the beneficiary’s name, account number, bank name, branch, branch address and IFSC code.
• Write the amount you want to transfer in figures and words.
• Fill in your mobile phone number and sign the form. 

Remember to fill all details in block letters and avoid writing on other parts of the form without consulting the bank representative. Ensure to double-check all details and submit the Bank of India RTGS form along with any required documentation and payment.

Bank Of India RTGS Form PDF Download

To initiate the process, all customers opting for RTGS fund transfers must download the Bank of India RTGS form online. You can refer to the link given below: 
Bank Of India RTGS Application Form

Bank Of India RTGS Documents Required 

As the remitting customer, you need to furnish the following details accurately:

• Beneficiary’s name
• Bank name and branch of the beneficiary
• IFSC code of the receiving bank branch
• Beneficiary’s account number
• Amount to transfer
• Your account number 
• Sender to receiver message (if you have any) 

While banks usually don't require any documents from customers, you may need to furnish your PAN card for transactions above a certain threshold. Moreover, you need to ensure that all beneficiary details are precise or risk loss of funds. You may want a cheque leaf from the beneficiary's bank. 

Bank Of India RTGS Form Filling Sample

Here is a sample of an unfilled BOI RTGS form taken from the official website:

Bank Of India RTGS Form Signature

Signatures play a crucial role in authenticating the transaction. Ensure your signature matches the one registered with your Bank of India account. Any discrepancy may result in the rejection of your form.

Bank Of India RTGS Form Download In Excel

While the standard RTGS form is in PDF format, you may not find an Excel version. However, you can create an Excel template based on the PDF form to streamline the filling process.

Bank Of India RTGS Charges 

Bank of India offers RTGS money transfers with specific charges based on the transaction mode. Both inward remittances and transactions on outward remittances made via the internet and mobile banking are free for both savings account holders and CD, OD, or CC account holders. However, for transactions conducted through a bank branch, a fee of Rs. 25 is applicable for amounts ranging from Rs. 2 lakh to Rs. 5 lakh, while transactions exceeding Rs. 5 lakh are charged Rs. 49 per transaction.

Bank Of India RTGS Timings 

The Reserve Bank of India allows RTGS transactions 24x7x365. However, individual banks, including the Bank of India, have fixed their timings for RTGS transactions. The following are the applicable timings for BOI RTGS transfers:

• On any given working day (Monday-Saturday): 8:00 a.m. to 4:30 p.m. 
• 2^nd and 4^th Saturdays and bank holidays: Not applicable 

Transfer requests sent outside the working hours are settled on the next working day. 

Things To Remember For Bank Of India RTGS

If you are transferring funds via Bank of India’s RTGS service, remember to go through the following points:

• The transaction is only processed if the beneficiary's bank account is in an RTGS-enabled bank. Otherwise, it will be rejected.
• You can only transfer funds from your bank account and not via cash or cheque. 
• Unlike NEFT, the beneficiary bank does not require the account holder's name, and the transfer is solely based on the beneficiary’s account number provided in the RTGS form.
• As payments are instant, there is no option to track transaction status. However, both the sender and receiver will receive positive confirmation after the funds have been transferred. 
• If you don’t receive a confirmation after transferring funds, you can contact the Bank of India’s call centre for an update.
• If the beneficiary does not receive the funds for some reason, the beneficiary bank must reverse your transaction within one hour. You will receive the refund in your bank account.

For offline money transfers of Rs. 2 lakh and above, you can use Real Time Gross Settlement (RTGS) to transfer funds instantly and seamlessly. To make a payment, you can visit the nearest bank branch and ask for a Bank of India RTGS form. Alternatively, you can download this form from the bank's official portal and get a printout. Then, file it at the bank branch to finalise your payment. 

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