Barclays Global Retail and Commercial Bank (GRCB) India, part of the global Barclays Group, has upgraded its ‘Online Banking’ service, with National Electronic Funds Transfer (NEFT) facility – reported in Business Standard.
By using NEFT service, introduced by Reserve Bank of India, Barclays account holders can now transfer small value payments from one branch to another, without any delays or procedural hassles over a secure platform. The funds will be transferred to the beneficiary’s bank using the Reserve Bank of Payment Interface (PI).
The bank claimed that online banking customers will have a daily transfer limit of INR49,999, and the transactions will be processed in two batches with a turn-around time of 24 hours.
Ram Gopal, interim managing director, GRCB, said, “With Online Banking, our customers can now access banking services instantly anytime and anywhere at their convenience. This is an important step towards providing yet another value added service.”
Barclays Global Retail and Commercial Banking (GRCB) includes UK Retail Banking, Barclays Commercial Bank, Barclaycard, GRCB Western Europe, GRCB Emerging Markets and GRCB Absa.
