Friday, 27 September 2013

How to Transfer Money from Punjab National Bank to Other Accounts


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Modern banking facilities allow you perform major banking activities right from your home or office. Banks provide many platforms to perform banking activities from anywhere and anytime like; SMS banking, USSD based banking, mobile banking, tele banking, and internet banking etc. Now it’s possible to transfer funds using online banking services provided by the banks.

In this tutorial, we’ll be discussing on how to transfer funds from PNB bank to other banks using PNB net banking service. Punjab National Bank allows its customers to transfer funds using internet banking, SMS banking, or mobile banking service. Read on to know how to send money using PNB online banking service.
Transfer funds from PNB to other banks

You would require:

1. PNB Net Banking: This service should be activated on your account.
Note: If you are not a PNB net banking user then click here to know how to activate PNB internet banking service online.
2. Beneficiary Details: You should have beneficiary’s (person whom you want to send money) account details such as bank name, account number, IFSC code etc.

Steps to transfer funds from PNB bank account to other bank account –

To transfer funds from your bank account to other you would need to set up transaction limits and you have to add receiver (person whom you want to send money) as a beneficiary. Subsequently you can send money to him/her in real-time (depending on payment method).
To make this whole process easy and understandable for you, we have divided it into three parts; which are:
  1. Set Transactions Limits
  2. Add beneficiary
  3. Send Money

A) Set Transactions Limits -

  1. Access your PNB e-banking service using your login credentials.
  2. After Logging In, from the side panel, look for set limits (See screenshot below) link under my shortcuts tab.
  3. Click on set limits and then a page will appear on your computer screen.
  4. At user limits page, enter maximum limits for your transactions. See below screenshot;
PNB set limits
  1. You would need to set limits for NEFT, PNB to PNB, RTGS, Credit card, e-Commerce etc. Here is a quick glance:
    • Within PNB transfers: Set maximum amount that can be transferred from your PNB account to other PNB account.
    • RTGS transactions: You can send minimum ₹2 Lacs using this payment method. There’re no upper limits. Therefore, enter ₹2 lacs or more in the RTGS box.
    • Credit card payments: Set desirable amount for this segment.
    • NEFT transactions: You can enter up to ₹10 lacs (Approx.) here. This payment method can be used to transfer 1 rupee to ₹10 lacs (Approx.).
    • e-Commerce transactions: Set maximum limits for e-shopping or bill payments etc.
    • You can read this post to under it better “cashless payment systems in India
  1. After setting up limits, hit continue/submit button.
  2. In the next step, you will receive one time password (OTP) on your register mobile number. Just enter the OTP and press submit button.
  3. That’s it. Now move to part B.

B) Add beneficiary

Note: This is a one time process which means you do not need to repeat it to transfer funds next time to the same beneficiary.
  1. After setting up limits, from the navbar, move your mouse cursor on ‘Transactions’ and select manage beneficiary.
PNB add beneficiary
  1. Click on select to open drop down menu and select first or second option: a) Add within PNB Payee – Select it if beneficiary’s account belongs to PNB bank. b) Add other bank payee – Select it if beneficiary has other bank’s account like SBI, HDFC, ICICI etc.
Adding PNB bank beneficiary
  1. Hit ‘OK’ button.
  2. In the next step, a form will appear on your computer screen. Just enter a nickname for the payee.
Add PNB bank payee
  1. Enter account number of the beneficiary and hit ‘validate’ button. Check account name and father name of the payee if they’re correct then move to next column and then enter details pertaining to the account. Complete the form and press continue button.
  2. In the next page, check payee’s account details like account number, name, father name etc and subsequently enter your transaction password.
  3. Upon entering the password, click on submit button.
That’s it. Beneficiary has been added. Repeat the same process to add more beneficiaries. Now proceed to part C.

C) Send Money

  1. After adding payee successfully, move your cursor on transactions and select one required option for example;
    • To transfer to PNB accounts – Select own account or other PNB account.
    • To transfer funds to other bank accounts – Select an option under ‘to transfer funds to other bank accounts’ to send money to other bank accounts like SBI, HDFC, AXIS, ICICI etc.
Send money using PNB NEFT
  • Confuse: Which option to choose?
    • IMPS: To transfer up to ₹50,000.
    • IMPS using MMID: If you have MMID number of the payee then opt this option to send him/her up to ₹50,000.
    • NEFT: This is most preferable payment method. You can select it to transfer any amount between ₹1 to ₹10 lacs (Approx.).
    • RTGS: Select this option to send more than ₹2 lacs.
  • Note: You can select any payment method that suits to your needs. We have selected NEFT in the next steps. Also, above fund transfer limits may vary therefore contact PNB bank for clarification.
  1. After selecting NEFT or appropriate payment method, you will be forwarded to next step where you will be asked to select a payee and amount that you want to transfer.
Do PNB NEFT to transfer funds
  1. From Initiate NEFT Payment page, select a ‘From Account’. Basically, it should be your account number.
  2. Select ‘To Account’. Select beneficiary whom you wish to transfer money.
  3. Enter amount.
  4. Select date. You can choose when to send money.
  5. Select maturity instructions; one time or recurring.
  6. Write a remark; if any. Just add anything like payee name, purpose of transaction, etc.
  7. Now, click on continue.
  8. Thereafter, verify all the details and then enter transaction password.
  9. Congratulations! Payment has been sent to the payee successfully. You can download confirmation receipt by pressing on ‘OK’ button.
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5 comments:

  1. Thanks for sharing good and helpful article with us. This is very helpful for me.
    Remit money

    ReplyDelete
    Replies
    1. Your welcome and i appreciate your feedback....

      Delete
  2. Amazing , here we have a very useful information for the account holders. Thank you

    ReplyDelete
  3. Can I transfer money from my account to another bank account ?
    How much time it will take to be transferred ?
    After transferring can I able to withdraw the amount from that account at the very same time ?

    ReplyDelete
    Replies
    1. Dear Anas Taqi,
      Certainly you can transfer funds from your bank account to other.
      There are no conditions to do so. Just login to your internet banking page and choose fund transfer.
      It is called Electronic fund transfer and it has basically three types IMPS, NEFT, and RTGS. You will find these three options under fund transfer.
      Use:
      IMPS to transfer up to Rs. 10,000
      NEFT to transfer up to 10 lacs.
      There are no limits of transfer for RTGS but minimum cap is 2 lacs.
      Above three fund transfer modes are real-time and time slot basis therefor credit depends upon the mode you choose.
      Yes, you will be able to withdraw the amount as soon as it's credited.

      To understand it better please copy and paste following link into your browser's address bar "http://www.maapsworld.com/2016/11/5-types-of-online-payment-and.html"

      Delete

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