This tutorial will help you know how to transfer money from HDFC to other bank account. By the the same instructions, you can send money from HDFC to HDFC bank.
HDFC Fund Transfer facility lets you transfer money from HDFC Bank to any other bank account. You can send money from HDFC to HDFC or other bank accounts like SBI, PNB, ICICI, Axis and the like banks. To transfer funds from your account to other, you’ll need to activate net banking or mobile banking service of the bank.
If you’re an HDFC online banking user then you can easily send money to your loved ones anytime, anywhere. If you’ve not activated HDFC netbanking service then don’t despair, just read this post, “How to activate HDFC net banking service from home?” and then come back to read this post to know how to transfer money from HDFC to other bank online.
Those who have not activated net banking service of the bank cannot send money online. So, follow the instructions given below only if you’re an HDFC online banking user.
If you hesitate to use online banking service then you should read this post ‘Is online banking safe?‘ In today’s fast-paced world everyone should use net banking service, it’s very time saving. You can check your account balance, transfer fund, download account statement, request cheque book, pay credit card bill, redeem credit card reward points, open or close fixed deposit account, stop cheque payment, and avail many more banking services.
Let me quickly show you how to transfer money from HDFC to other bank account.
HDFC Fund Transfer
Steps to send money online from HDFC Bank:
For your convenience, I’ve divided HDFC fund transfer process in 4 parts:
- Activate HDFC net banking service (Skip if already activated)
- Activate HDFC fund transfer or third party transfer facility
- Add beneficiary in HDFC Bank, to whom you want to send money
- Transfer money from HDFC Bank to the beneficiary’s account
Watch above video to know to send money from HDFC to other bank. Video covers all the steps mentioned above except net banking activation. If you don’t understand Hindi then you can read on to know HDFC fund transfer process.
1. How to activate HDFC net banking service
As mentioned above, to transfer money from HDFC to other banks, first you’ll need to activate net banking service of the bank. In my recent post, I’ve showed you how to activate HDFC net banking service from home. Or if you understand Hindi then watch above video.
2. Activate HDFC fund transfer or third party transfer facility
If you’re an active user of HDFC net banking, but have not transferred funds before then first you’ll need to activate Third Party Transfer or HDFC Fund Transfer facility. It’s very easy! Just follow the steps given below to do so.
After logging in to your HDFC online banking account, from the navigation menu, click on Funds Transfer and then click on Register Now.
On the next page, you can read all terms and conditions for using Third Party Transfer facility. After reading the T&C, scroll down and click on the box next to “I accept Terms & Conditions,” and then click on Confirm button.
Next, you’ll be able to see list of your active debit cards, simply click on one that is handy at the moment.
Enter you ATM PIN that you use to withdraw money from ATM machine in front of “ATM PIN of the above Card” field. Then enter your debit card’s expiry date (you can find it on your card). Subsequently, click on Confirm.
Again, click on Register Now.
Click on the box next to “Mobile no.” and then hit Continue button.
Next, you’ll receive an OTP message on your registered mobile number. Simply, enter the OTP security code in the given field and then press Continue button.
On the next page, you’ll be asked to select authentication image and message. These things are very important for your online account’s security. Next time when you will login to your account then you should see these two things on the login page. If any of these does not match then don’t login.
After selecting these two things, click on Modify and then Proceed to Step 2.
In the next step, you’ll be asked to select five questions and enter their answers. You can select any five questions of your choice. Upon selecting all questions and entering their answers, click on Proceed to Step 3.
Are you feeling exhausted?
I can understand that it’s time consuming but it is for your account security and to safe it against any fraudulent activity. So, it’s worth the trouble.
BTW, we’ve successfully activated Third Party Transfer or HDFC Fund Transfer facility. Now it’s time to add a beneficiary in HDFC Bank whom we want to send money.
Note: Third Party Transfer can take up to 30 minutes for activation.
3. Add beneficiary in HDFC net banking
To transfer money from HDFC to other bank account or HDFC itself, first, you’ll need to add a beneficiary in your HDFC Bank; to whom you want to send money. So let me show you how to add beneficiary in HDFC net banking account.
Click on Funds Transfer and then Request. Thereafter, click on Add a Beneficiary. Next, click on Go button underneath the “Transfer within the bank” button if your beneficiary’s account belongs to HDFC bank.
Or click on Go button underneath the “Transfer to other bank” button if your beneficiary’s account belongs to other bank account like SBI, ICICI, Axis, PNB, and the like.
In the next step, enter beneficiary’s account details. To enter IFSC code, hit Click here link and then enter IFSC code of the beneficiary’s bank. After entering all the details, hit Add button. Note: Email ID is an optional field, you can let it blank.
Click on Confirm button.
Select your mobile number and hit Continue button.
Next, you will receive an OTP message on your registered mobile for confirmation. Simply, enter the OTP and click on Continue.
That’s it, we have successfully added beneficiary. Now wait till your beneficiary gets approved from your bank. You can transfer funds to the beneficiary after successful approval.
Now you’re ready to send money from HDFC Bank.
4. How to transfer money from HDFC to other bank
Once your beneficiary gets approved from your bank, you can transfer money to him or her. Just follow the steps given below to send money from HDFC bank to other bank accounts.
Click on Funds Transfer. Then pick a payment method to transfer money from your HDFC Bank. If you don’t know which one to pick then read the following lines.
- Transfer within the bank: If your beneficiary’s account belongs to HDFC bank then select this option. You can send any amount ranging from Re. 1 to Rs. 25 Lacs per day.
- IMPS P2A – Instant Transfer (Recommended): You can pick this payment method to send money from your HDFC bank to any other bank account. This facility is available 24 hours therefore you should choose this if you want to send money to someone urgently.
- Transfer to other bank (NEFT): NEFT is almost similar to IMPS. The only difference is that it has time slots to transfer money which means fund transfer may take from 2 hours to 24 hours or more.
- Transfer to other bank (RTGS): You can use RTGS to transfer funds from your account to other accounts. But, minimum transaction should be 2 Lacs.
I recommend you to choose IMPS if you’re transferring money from HDFC to other bank or choose Transfer within the bank; if payee’s account is in HDFC Bank.
First of all, select your bank account and then in front of Beneficiary select a beneficiary to whom you want to send money.
In Amount field, enter the amount you want to send for instance in this tutorial I sent Rs. 4000 to the beneficiary.
Remarks field is optional. However, you can enter some text there.
In the end, tick checkbox next to “I have read and accepted the Terms and conditions.”
Now, hit Continue button to send money from HDFC Bank.
On the next page, check all details carefully and then click on Confirm.
Tick box next to Mobile number and hit Continue button.
Enter OTP message in the given field and click on Continue.
That’s it. You’ve successfully transferred money from HDFC to other bank account.
If you’ve chosen IMPS then money will be transferred within few minutes. Other HDFC fund transfer methods may take long time.