Andhra Bank waives RTGS/NEFT charges

Hyderabad: Andhra Bank on Saturday announced the enforcement of waiver of charges on transaction using the RTGS system and also the processing charges levied by RBI for transactions processed in NEFT system from July 1 this year.

In order to provide an impetus to digital funds movement, Reserve Bank of India has decided that with effect from July 1, 2019, processing charges and time varying charges levied on banks by RBI for outward transactions undertaken using the RTGS system and also processing charges levied for transactions processed in NEFT system are waived.

Bank General Manager K S D Siva Vara Prasad in a statement said, "accordingly, while passing on the benefits to our customers for undertaking transactions using RTGS/NEFT systems, we have revised the charges from July first."