Proof of payment for an RTGS (Real-Time Gross Settlement) transaction is an electronic or physical transaction receipt/advice, which includes a unique Unique Transaction Reference (UTR) number. This document confirms that the funds have been successfully transferred and settled by the bank.
Once you complete an RTGS transaction, you get a transaction receipt as proof of payment. You can find the UTR number clearly mentioned on this receipt, along with the date, transaction amount, your bank account number and the beneficiary's bank account number and IFSC.
Bank Transaction Receipt
When you initiate an RTGS transaction at a bank branch, you will receive a transaction receipt that contains the UTR number along with other details, such as the amount, date, time and beneficiary account number.
The remitting customer has to furnish the following information to a bank for initiating an RTGS remittance:
To establish proof of payment for bank transfers, you need a bank confirmation showing: Payee details (bank account number and name) Payer's name.
Proof of Payment
Photocopy of a cancelled check (front and back) Credit card sales slip. Monthly credit card statement (all personal information not pertaining to the purchase should be redacted)
Proof of payment can be a receipt - either a scan or a PDF - or a screenshot from your online bank, that clearly shows the following: Your details including your name, account number and your bank's name(this refers to the person who made the payment)
Real Time Gross Settlement (RTGS)
Transfer money from your Family Bank account to any another local bank within Kenya. These transactions are completed within a minimum period of 2 hours subject to a cut-off time of 3PM.
Overview: RTGS transfers require a minimum of ₹2 lakh with no RBI maximum cap. Banks set daily limits between ₹25-50 lakh for individuals. Available 24/7 with instant settlement, RTGS suits high-value property, business, and urgent payments with enhanced security features.
Fill Out Form: Complete the RTGS form with details such as the beneficiary's name, account number, and transfer amount. 3. Provide Information: Supply your account details and the purpose of the transfer.
Cross-Border Capabilities. Fedwire is primarily limited to U.S. dollar transactions among U.S. institutions and U.S. branches of foreign banks with Fed accounts. RTGS systems are generally managed by national central banks and are typically limited to domestic transfers.
How Long Does RTGS Transfer Take? Under normal circumstances, the RTGS transfer time is real-time. As mandated by the Reserve Bank of India (RBI), the beneficiary bank receives the amount within 30 minutes of receiving the transfer message. The amount is reflected on the receiver's account within a few seconds.
No. RTGS and NEFT services are enabled only in specific bank branches across the country. A list of such RTGS / NEFT enabled branches can be obtained from the RBI website, https://rbi.org.in/Scripts/RTGS.aspx for RTGS and https://www.rbi.org.in/scripts/neft.aspx for NEFT.
RTGS offers many advantages for funds transfer: It is a safe and secure system for funds transfer. RTGS transactions / transfers have no amount cap set by RBI. The system is available on all days on 24x7x365 basis.
How to Perform an RTGS Transaction and Check its Status?
Cost-Effective: While some banks might have small fees, many offer RTGS for free, making it a budget-friendly way to send money. Peace of Mind: RTGS is legally recognized and regulated, so you can be confident that your transactions are secure and protected by law.
The Reserve Bank of India (RBI) has introduced Beneficiary Account Name Lookup Facility for RTGS (Real Time Gross Se lement) and NEFT (Na onal Electronic Funds Transfer) transac ons.
Contact Your Bank: If a transaction fails or there is a delay in crediting funds, customers should first contact their bank's customer service or visit their branch with details of the transaction, including the Unique Transaction Reference (UTR) number.
Required Details for RTGS Transaction
Sender's Account details like your account number and the branch IFSC code from which you wish to transfer the funds. Beneficiary's Account details, like beneficiary's account number, bank name, and branch's IFSC code. The amount you want to transfer.
The minimum amount for RTGS transfer is Rs. 2 Lakh. The RBI does not charge a processing fee for such transfers. It costs anywhere from INR 24.50 to 49.50 for RTGS transfers.
Proof of payment is a document that provides evidence of a bank transfer. The most common documents used and accepted are receipts, invoices, and bank statements. Ideally, the information that needs to be included in the document is: Personal Details - Your name, the name of your bank, and your account number.
Common payment documents include a receipt, bank statement, or invoice, each detailing the transaction amount and parties involved. These documents are crucial for record-keeping, dispute resolution, and compliance with financial regulations.
A proof of payment is a document showing you've sent money from your bank account. This could be a PDF of your bank statement, or a screenshot from your online bank.