With an increase in digital banking, Indians increasingly rely on electronic fund transfers over traditional methods such as cash, cheques, debit cards, or credit cards. Punjab National Bank (PNB) offers a variety of electronic fund transfer modes, including UPI, NEFT, IMPS, and RTGS, to cater to customer needs.

Electronic fund transfer refers to transferring funds from one bank to another over the Internet using computer-based systems. This blog will showcase how to use the PNB RTGS form to transfer funds from your PNB bank account. Scroll below. 

What Is The PNB RTGS Form?

Real-time Gross Settlement, or RTGS, is a payment method through which banks send money from one account to another of an RTGS-enabled bank. RTGS allows for immediate settlements of high-value transactions, usually above Rs. 2 lakh, ensuring secure and quick transactions. 

RTGS utilises a continuous and real-time settlement system, where each transaction is settled as soon as the instruction is received individually. It is an ideal transfer method for expensive transactions that you need to settle immediately. Transactions are settled within 2 hours, and the payment details are quickly updated for beneficiaries. 

Punjab National Bank offers the RTGS payment method online and offline. You can transfer funds via RTGS using PNB net banking or mobile banking or by submitting a PNB RTGS form at a bank branch. This lets you transfer large sums of money without any hassles. 

How To Download The PNB RTGS Form?

RTGS transactions can be carried out offline by anyone unfamiliar with the online process. This ensures that those without a mobile phone or internet connection can still transfer funds.

You can go to your nearest PNB branch to obtain the RTGS form or go to the official website to download the PNB RTGS form PDF. You can print out this form and submit it at the bank after completing the details. Here’s how you can download the RTGS form:

• Go to the official website of Punjab National Bank. 
• On the homepage, click ‘Download Forms’ in the top menu. 
• Among the list of forms provided for various purposes, find the RTGS form and click on the PDF link. 

You will get a PDF copy of the PNB RTGS form. Print it and start filling in the details. 

How To Fill The PNB RTGS Form?

The PNB RTGS form has two sections. The left part is the customer copy, which is torn and returned to the customer by the bank. Meanwhile, the right part contains the beneficiary and sender details. Follow the given steps to fill out this form:

• Download and print the RTGS form by following the steps below.
• Begin by writing the date and amount to be transferred (in words and numbers) in both sections. 
• Then, select the mode of transfer (RTGS) and strike down the options that aren’t applicable. 
• Write your name, account number, bank name, branch name, IFSC code and cheque details (if you are paying with a cheque). 
• Finally, double-check all the information and include your signature, name, address, and contact details. 
• Visit your nearest PNB branch along with the duly filed RTGS form and identification documents. Submit the form to the bank teller or customer service desk.

Once your request gets approved, the bank will transfer the required funds to your chosen beneficiary. 

PNB RTGS Form PDF Download

All customers opting for RTGS fund transfers must download the PNB RTGS form online to initiate the process by searching for it on their official website. 

PNB RTGS Documents Required

Here are some of the documents you may need to fill out a PNB RTGS form:

• A cheque leaf of the beneficiary 
• Your PNB passbook 
• Duly filled RTGS form along with necessary details 
• Identification documents as requested by the bank staff (PAN, Aadhaar, Voter ID, etc.)

PNB RTGS Form Signature

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

PNB 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.

How To File PNB RTGS Form Online

Customers can file RTGS forms online using PNB's net banking and mobile banking services. Here is how you can transfer funds via RTGS through net banking and mobile banking:

Mobile Banking: Follow these steps on the PNB One mobile application:

• Open and log in to the PNB One app. 
• Click ‘My Payee’ and ‘Add Payee’ on the bottom right.
• Choose if your beneficiary is from PNB or another bank. 
• Enter the beneficiary details, including bank details and account number. Then, set the limit amount and the number of transactions. 
• Click on ‘Add’, reconfirm and enter the TPIN to proceed. Confirm again with OTP. 
• Go to the home screen, and click ‘Transfer Fund’ followed by ‘Transfer Funds to Beneficiary’.
• Select the beneficiary (who you just added) and enter the amount to transfer. 
• Select the mode of payment (RTGS) and frequency (one-time/recurring). 
• Confirm the details and enter your PIN and OTP to transfer funds. 

Net Banking: Following is the way to transfer funds using the net banking services of PNB: 

• Log in to the PNB net banking portal with your username and password. 
• Click on the ‘Transactions’ tab and then ‘RTGS’. 
• Select both your account number and the beneficiary's account number. 
• Enter the amount to transfer, the frequency of transfer (one-time/recurring), and standard remarks. For recurring payments, you must select the frequency (daily, monthly, weekly, quarterly, half-yearly or yearly) and the number of instalments. 
• Click on 'Continue', then enter the transaction password and OTP. Finally, enter the OTP and click on 'Submit'. 

PNB RTGS Charges And Timings 

Since December 2020, Punjab National Bank has made RTGS transactions available 24x7, 365 days a year, with no exceptions for holidays or Sundays. The bank charges specific transaction fees for RTGS services, exclusive of GST. Inward transactions are free of charge, while outward transactions incur different costs based on the account type and transaction amount. 

For transactions from a current account at the branch, the price is Rs. 24.50 for amounts between Rs. 2 lakh and Rs. 5 lakh and Rs. 49.50 for transactions exceeding Rs. 5 lakh. For online transactions from a savings account, the charge is Rs. 24 for Rs. 2 lakh, Rs. 5 lakh, and Rs. 49 for amounts above Rs. 5 lakh. Online transactions from a cash credit (CC) or overdraft (OD) account are similarly charged Rs. 24 for Rs. 2 lakh and Rs. 5 lakh and Rs. 49 for transactions over Rs. 5 lakh.

RTGS is a safe and secure system of transferring funds from Punjab National Bank to any bank with no maximum amount cap. The facility allows you to send funds offline via a bank branch using a PNB RTGS form or online via PNB’s net banking or mobile banking services. Moreover, the system is available 24*7*365 without any restrictions on timings or holidays.

All of these advantages make RTGS an ideal choice for bulk transfers. However, you must be careful when entering the beneficiary's account number, as transactions cannot be reversed if you send funds to the wrong account. Therefore, having the beneficiary's cheque or passbook details with you is a good idea. 

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