 "ICICI Bank RTGS services to be down for 6 hours between December 14 and 15")
RTGS transactions, both inward and outward, of the ICICI Bank would be temporarily down for six hours starting 11:55 pm on December 14 due to scheduled maintenance activity.
The bank has informed its customers via an official email notification that the RTGS transactions will be unavailable till 6:00 am on December 15.
In the meanwhile, customers can continue to use alternative payment methods such as NEFT, IMPS, or UPI through the iMobile app or Internet Banking.
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What is RTGS
According to RBI, “The acronym 'RTGS' stands for Real Time Gross Settlement, which can be explained as a system where there is continuous and real-time settlement of fund-transfers, individually on a transaction-by-transaction basis (without netting). 'Real Time' means the processing of instructions at the time they are received; 'Gross Settlement' means that the settlement of funds transfer instructions occurs individually.”
Charges for RTGS at ICICI Bank
Online transactions (via Internet Banking, iMobile Pay, or Pockets App):
Free of charge for all amounts.
Branch-initiated transactions:
For amounts above Rs 2 lakh up to Rs 5 lakh: Rs 20 + GST.
For amounts above Rs 5 lakh up to Rs 10 lakh: Rs 45 + GST.
How to send money using RTGS via ICICI Bank net banking
Visit the ICICI Bank Net Banking portal.
Log in using your credentials.
Navigate to the ‘funds transfer’ option under the ‘payments and transfer’ tab.
Click on ‘add a payee’ and choose ‘other bank payee’ as the beneficiary type.
Provide the beneficiary’s account details.
Choose the beneficiary's IFSC by selecting their bank and branch name.
Click ‘add’ and review the details.
Click ‘confirm’ to proceed.
Complete the process by entering the OTP sent to your registered mobile number.
Once authenticated, the payee will be available for transactions.