State Bank of India (SBI) money transfer through bank branchįor transactions made by way of visiting a bank branch, SBI charges a fee of Rs 2.5 (plus GST) per NEFT transaction up to Rs 10,000. For amounts above Rs 5 lakh, the bank charges a fee of Rs 10 per transaction, according to the bank's website In case of money transfer through RTGS, SBI charges Rs 5 per transaction for an amount between Rs 2 lakh and Rs 5 lakh. For transfers above Rs 2 lakh, SBI charges a fee of Rs 5 (plus GST) per transaction. For amounts between Rs 10,000 and Rs 1 lakh, SBI charges Rs 2 (plus GST), and Rs 3 (plus GST) for amounts between Rs 1 lakh and Rs 2 lakh. State Bank of India (SBI) money transfer onlineįor transactions made through net banking or mobile banking, SBI charges a fee of Rs 1 (plus GST) per NEFT transaction of an amount up to Rs 10,000. (Read: How NEFT, RTGS, IMPS transactions w ork) Explained below are various transaction charges levied by SBI, ICICI Bank, HDFC Bank and Axis Bank for money transfer services NEFT, RTGS and IMPS: In major banks today, a fee of Rs 55 per transaction (excluding GST) is charged for any of these services. Banks charge a fee for providing the NEFT, RTGS and IMPS services. For example, you can send money from your bank account in a bank, let's say State Bank of India (SBI), to your friend's account in another bank, say ICICI Bank. Online money transfer or wire transfer refers to remittance of funds from one bank account to another bank account - not necessarily in the same bank - without the intervention of banking staff. NEFT, RTGS and IMPS services are provided by most banks today. Need to make a money transfer online? National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) are three options available today.

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