ICICI NEFT (National Electronics Funds Transfer)

ICICI NEFT Timing

Presently, All NEFT transactions are processed by ICICI from 8 a.m. to 6.30 p.m. from Monday to Saturday. Please note that NEFT transactions will not be processed on 2nd and 4th Saturdays as they are usually bank holidays.

Process to Transfer Funds through NEFT from ICICI to any Bank

Step1: To transfer funds from an ICICI bank account to another bank account, log on to the ICICI bank website and respective internet banking account

Step 2: Proceed to the ‘Payments & Transfer’ section and choose the ‘Fund Transfer’ option

Step 3: Go on to click the ‘Other Bank Account’ option

Step 4: Choose the respective payee, the account holder to whom the transfer has to be made

Step 5: Provide various other details in the given columns such as fund amount and any transaction remarks if any

Step 6: Key in ATM or debit card details

Step 7: A confirmation number will be displayed as soon as the payment has been made successfully

Please note that in order to transfer funds to another person’s account, he/she has to first be a registered payee in your internet banking account. If NEFT transfer is being done for the first time to an account holder, the first step is to register the payee.

Step-by-Step Process to NEFT from ICICI Mobile App

To transfer funds using NEFT through the iMobile Pay app, follow these steps:

• Log in to the iMobile Pay app.
• Go to ‘Funds Transfer’ > ‘Transfer to Other Bank (NEFT)’.
• Select the payee or add a new one with IFSC code.
• Enter the amount and remarks.
• Review and confirm using OTP or MPIN.
• A confirmation message will appear once the NEFT is successful.

How to Pay Credit Card Bill Through ICICI NEFT

1. Step1: Login to the internet banking facility from any devices
2. Step 2: Choose the ‘Add Beneficiary’ option and add the respective bank that has issued your credit card
3. Step 3: Key in other details of the card such as branch, city, etc.

1. Step 4: Proceed to select transaction code
2. Step 5: Ideally, all NEFT payments through this mode will be processed within 1 working day.

Limitations of ICICI NEFT

1. Slow process: It takes time to process NEFT transactions because it can be done only during the working hours of the bank, unlike other payment methods.
2. Bank holidays: The service will not be available during bank holidays, making it very inconvenient during emergencies.

Details Needed for NEFT Transfer via ICICI Bank

1. The 16-digit beneficiary account number
2. Payee name
3. IFSC code

Benefits of ICICI NEFT

1. Reliable process: The NEFT facility offered by ICICI is very reliable and backed by the Reserve Bank of India (RBI). There no risk involved in this process and it can be used without any hassle.
2. Reasonable fee: The transaction charges for NEFT transactions are cost effective and reasonable. For more details on NEFT charges, please refer to the fees and charges table above.
3. Regulated by Reserve Bank of India (RBI): The RBI backs NEFT transactions across the nation. The system was introduced in 2005 to allow users to transfer funds without any issues from one NEFT-enabled bank to another.

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