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Can you tell me about Number of Digits in Account Number in Corporation Bank for National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement (RTGS)?

[Vishal Kotkar]

Corporation Bank uses 15 digits Account Number for National Electronic Fund Transfer (NEFT) and Real Time Gross Settlement (RTGS).

The 15 digit account number mechanism for NEFT and RTGS has been implemented in the Bank. The customers can now mention their existing account number in ECS format for NEFT and RTGS inward remittances.

The format for specifying 15 digit account number is as follows:

Example: For account SB02000101 at New Delhi - Greater Kailash Branch (0286), the 15 digit numeric account number is 028600102000101. Here 001 after branch code is account type mapping code.

Alpha numeric and new 15 digit account number (numeric) shall co-exist. That means the customers can either mention their account number as SB02000101 or as 028600102000101 for the above account.

RTGS Timings:
Customer Payment Session:
Weekdays: 0800 hrs to 1630 hrs
Saturdays: 0800 hrs to 1630 hrs
InterBank Payment Session:
Weekdays: 0800 hrs to 2000 hrs
Saturdays: 0800 hrs to 2000 hrs
The RTGS Transaction Timings:

RTGS Transaction Upto 3.30 pm After 3.30 pm
Rs.2 lakh to Rs.5 lakh Rs.29 [25+4 tax] Rs.35 [30+5 tax]
Above Rs.5 lakh Rs.57 [50+7 tax] Rs.63 [55+8 tax]

NEFT Timings:
Weekdays: 0800 hrs to 1900 hrs
Saturdays: 0800 hrs to 1900 hrs
Service Charges to be levied on all NEFT transactions done through all channels
With effective from 09/06/2014
Inward NEFT: NIL

Outward NEFT
Value Band Charges (exclusive of service tax)
Amounts up to Rs.10, 000/- Rs.2.50
Amounts from Rs.10, 001 to Rs.1 Lakh Rs.5.00
Amounts above Rs. 2 Lakh Rs.25.00