NEFT, RTGS now available for Post Office accounts

 NEFT, RTGS now available for Post Office accounts
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Mangaluru, June 15, 2022: Transferring fund to the Post Office Account has been made easy with the Department of Posts launching NEFT/RTGS facility to its Account Holders.

Now, traditional Post Office Savings Account holders can get both inward and outward NEFT/ RTGS transfer facility to their Post Office Accounts. This implies that now Post-Office Account holders can transfer amount in their Savings Account to other Bank Accounts through NEFT / RTGS and they can transfer amount from other Bank accounts to their Post Office Savings Account through NEFT / RTGS.

Under the ‘One India, One IFSC code scheme’, one IFSC code “IPOS0000DOP” has been allotted to traditional Post Office Accounts of any Post Office across India.

Benefits of this service are listed as below:

  • The POSB Accounts like NSC, KVP, PPF, SSA, 1,2,3, and 5 TD Accounts, Senior Citizen Savings Scheme, Monthly Income Scheme can be opened through funds transfer using NEFT /RTGS instead of presenting the cheques for realization and then opening of accounts.
  • Subsequent deposits for SSA / PPF can also be credited using NEFT / RTGS facilities.
  • NEFT / RTGS facilities are also provided to POSB Accounts holders at Branch Offices. The NEFT / RTGS forms provided by POSB Account holders at Branch Offices can be forwarded to any Account Office and avail NEFT /RTGS facility.
  • To ascertain correct IFSC code of any bank for performing NEFT /RTGS using Net Banking/Mobike Banking APP, following procedure may be noted:
  • Select ‘search IFSC Code’
  • Then select Bank Name: INDIA POST PAYMENT BAN
  • Select State: DELHI
  • District: NEW DELHI

Thereafter , the IFSC Code “IPOS0000DOP” can be ascertained.  

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