What is transaction reference number in NEFT?

Unique Transaction Reference number
A UTR or Unique Transaction Reference number is a reference number for identifying an NEFT, IMPS or RTGS transaction. Every bank in India uses UTR numbers for all local modes of money transfer and they are beneficial for recipients in case there has been no recent update or credit corresponding to your transaction.

How does NEFT reference number look like?

It is a unique number that is generated for recognizing any fund transfer and is created by the bank that facilitates the transfer. You will find the UTR number in your bank statement listed as Ref no under the transaction details. It may look something like XXXXR520190109599036XX.

What is reference number in money transfer?

A reference number is a unique identifier assigned to any financial transaction including those made using a credit or debit card. The reference number is created technologically and designated for a single transaction.

How many digits are there in Neft number?

It’s a 11-digit code with the first 4 alpha characters representing the bank, and the last 6 characters representing the branch.

How to make Neft transaction?

Please note that to make NEFT transaction, you need following details of the beneficiary account – Name of the Account Holder, Account Number, Payee Bank Name, IFSC Code of the branch. E.g. Once transaction is complete, you will receive the UTR No. from the bank which can be quoted for any query later regarding the transaction.

What is the UTR number for NEFT transactions?

For every successful NEFT transaction, your Bank will provide a UTR number (Unique Transaction Reference No.). For example, if you do the a NEFT transaction with a branch of Union Bank of India, the Union Bank of India will provide the UTR No. to you which can be used to track the transaction later.

When do the terms and conditions of Neft come into force?

1) These Terms and Conditions shall come into force as soon as a request for transfer payment through NEFT is made by the customer and/ or a security procedure is established by mutual agreement between the Bank and the customer.

What is the maximum amount that can be transferred via NEFT?

There is no upper or lower limit on the amount that can be transferred via NEFT. You can begin with an NEFT transfer with Rs. 1. There is only a single limitation on the amount of one-time transaction through cash mode, which is Rs. 50,000. Depending on each bank, timings and settlement period for each transaction could be different.