- Paperless - No need to write cheques, make demand drafts and deliver them
- Anytime, Anywhere Convenience You can place a request for a fund transfer, 24*7
IBFT is a facility available on Online Banking which allows you to transfer funds from your Standard Chartered Bank savings or current account to any beneficiary account with any other bank which participates in National Electronic Funds Transfer (NEFT) clearing..
Just login to Online Banking account via www..standardchartered.co.in & choose the 'Inter Bank Funds transfer' option
Frequently Asked Qusetions
Q. Are there any transaction limits to IBFT on Net Banking?
The minimum amount for which you can use IBFT is INR 100 and currently you can use IBFT to transfer funds only up to INR 200,000 per day.Ensure that the amount does not contain any paise.[E.g. you cannot use IBFT to transfer Rs.124.12p,you can either mention the amount as Rs. 124 or Rs. 125].
Q. What information do I require to do an IBFT transaction on Online Banking?
You need the following details:
Q. What is IFSC Code? Where will I find it?
IFSC Code is a unique eleven-digit alphanumeric code number that helps in identifying a branch of any given bank in any given city.
When you ask the beneficiary his/her account number ask him/her to also give you the IFSC Code for his/her branch. IFSC Code can also be obtained from the cheque book. It is an eleven digit alphanumeric code appearing on the cheque book, generally above the serial number of the cheque.
You may also click on the "IFSC Codes" tab on the top to find the IFSC code of banks participating in the NEFT system.
Please note that even if the beneficiary branch has an IFSC code, you will not be able to transfer funds to an account held in that branch, unless that branch is live in the NEFT system.
Q. Will all banks that were participating in EFT automatically be on NEFT?
The list of banks under EFT and NEFT are not the same. While EFT covered almost all the branches of banks in the 15 cities where RBI had a clearing house, NEFT can service all the branches of a bank (provided that all its branches participate in NEFT settlement).
Q. What are the various reasons for rejecting an IBFT request?
IBFT can be rejected due to the following reasons:
The Banks participating in RBI's National Electronic Funds Transfer (NEFT) are:
|ABN Amro Bank||Deutsche Bank||State Bank Of Bikaner And Jaipur|
|Allahabad Bank||Development Credit Bank||State Bank Of Hyderabad|
|American Express Bank Ltd||HDFC Bank||State Bank Of India|
|Andhra Bank||HSBC Bank||State Bank Of Indore|
|Bank Of America||ICICI Bank||State Bank Of Patiala|
|Bank Of Baroda||IDBI Bank Ltd.||State Bank Of Mysore|
|Bank Of India||Indian Bank||State Bank Of Yes Bank|
|Bank Of Maharashtra||Indian Overseas Bank||State Bank Of Travancore|
|Barclays Bank Plc||Indusind Bank Ltd.||Synidcate Bank|
|BNP Paribas||Ing Vysya Bank||Tamilnad Mercantile Bank Ltd|
|Canara Bank||Karnataka Bank||The Federal Bank Limited|
|Catholic Syrian Bank Ltd.||Karur Vysya Bank||UCO Bank|
|Central Bank Of India||Kotak Mahindra Bank||Union Bank Of India|
|Centurian Bank Of Punjab||Oriental Bank Of Com||United Bank Of India|
|Citi Bank||Punjab & Sind Bank||The Thane Janata Sahakari Bank|
|Corporation Bank||Punjab National Bank||Vijaya Bank|
|Abhyudaya Coop Bank||Abu Dhabi Commercial Bank||Axis Bank|
|Bank of Bahrein & Kuwait||Bank of Ceylon||Bank of Rajasthan|
|Bank of Tokyo-Mitsubishi||Calyon Bank||Citizencredit Coop Bank|
|City Union Bank||Cosmos Co-op. Bank||Development Bank of Singapore|
|Dombivli Nagari Sahakari Bank Limited||Jammu & Kashmir Bank||Jankalyan Shakari Bank|
|Jp Morgan Chase Bank||Kapole Bank||Mscb|
|Mashreq Bank||New India Co-operative Bank||Nkgsb Bank|
|Nutan Nagarik Sahakari Bank||Oman International Bank||Punjab And Maharashtra Bank Ltd|
|Reserve Bank of India||Shinhan Bank||Saraswat Co-operative Bank|
|Societe Generale||South Indian Bank||State Bank of Mauritius|
|The Ahmedabad Merc Coop Bank||The Bank of Nova Scotia||The Bharat Cooperative Bank|
|The Greater Bombay Co-op. Bank Ltd||The Dhanalakshmi Bank||The Kalupur Comm Coop Bank|
|The Laxmi Vilas Bank||The Ratnakar Bank||The Shamrao Vithal Coop Bank|
|Dena Bank||Standard Chartered Bank|
Did you know?
There is no minimum balance required to open an aaSaan savings account, and you don't have to keep a specific balance in your account.