The acronym “RTGS” stands for Real Time Gross Settlement. RTGS is a funds transfer system which involve transfer of funds from one bank to another. RTGS is the fastest medium of transferring money. In RTGS the transaction are settled immediately or as soon as they processed. The transaction is not subjected to any waiting time. In RTGS, transactions are processed continuously throughout the RTGS business hours defined by Reserve Bank of India (RBI). With effect from December 14, 2020 there is no no more business hours defined for RTGS transactions, RTGS service is now available 24x7x365. The RTGS system is primarily for large value transactions. The minimum amount to be remitted is Rs 2 Lakh. There is no upper ceiling for RTGS transaction.
ICICI Bank RTGS form allows customer to transfer large value transactions from one bank account to another. It is the fastest medium of funds transfer. The funds are settled on real time basis or gross basis. The minimum amount that can be remitted through ICICI bank RTGS form to be remitted is Rs 2 lakh whereas, the maximum limit is Rs 10 lakh per day. ICICI Bank RTGS form is available at all branches at ICICI Bank PAN India.
RTGS Charges of ICICI Bank
For Online medium:
If the RTGS Transaction is initiated through online modes (i.e. Internet Banking, iMobile app, Mera iMobile app and Pockets app) then the charges is Nil.
If RTGS trasaction is initiated at any ICICI Branch then the charges levied by ICICI Bank are as follow:
Amount above Rs 2 lakh upto Rs 5 lakh – Rs 20 + Applicable GST
Amount above Rs 5 lakh upto Rs 10 lakh – Rs 45 + Applicable GST