Real Time Gross Settlement (RTGS)

Real Time Gross Settlement is a funds transfer mechanism where transfer of money takes place from one bank to another on real time and on gross basis. This is the fastest possible mode of money transfer through bank channel available in India. Presently, there are over 45000 bank branch enabled for remitting and receiving funds through RTGS. RTGS is primarily for large value remittances. The minimum amount to be remitted through RTGS is Rs.1.00 Lakh. The customer intending to remit money through NEFT has to submit an application with particulars of IFSC ( Indian Financial System Code) of the beneficiary Bank/Branch, full account number and name of the beneficiary. Union Bank offers RTGS facility to its customers through all its 2400+ branches. The bank has completely waived service charges on all RTGS remittances and as such the facility is free to our customers. RTGS remittance service for customer transactions is available from9.00 hours to 15.30 hours on weekdays and from 9.00 hours to 11.00 hours on Saturdays. Under this facility money will be credited to the beneficiary account instantly on real time basis. nline RTGS

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Union Bank is launching online RTGS, which allows transfer of funds (Above Rs.1,00,000) to more than 35,000 other Bank Branch Accounts across the country. Union Bank offers Internet Banking facility to all CBS branch customers of the Bank. All our Retail and Corporate customers can open Internet Banking account. The users of Internet Banking can just login to www.unionbankonline.com and complete a one-time registration & confirmation of the third party bank account and transfer funds. System will automatically deduct applicable service charges & service tax from the account. The money will reach Payee's bank within the time stipulated by Reserve Bank Of India. i.e., 9.00 AM to 4.00 PM on normal working days and 9.00 AM to 12.00 noon on Saturdays Fund Transfer transactions need to be authenticated by the user at the time of making the transfer by entering transaction password. All transactions on http://www.unionbankonline.co.in are highly safe & secure.

Forget about writing out & sending cheques/ DD's or Pay Orders to the payee for amounts above Rs.1,00,000/-. Free from the worry of instruments lost / misplaced in transit. Transact from the comfort of your home or office through Internet Banking of Union Bank. Transfer money to over 35,000 RTGS enabled branch of any Bank in India. =======================

NEFT & RTGS - Fund Transfer to other Bank Accounts : Both NEFT & RTGS modules are available as a single module inside our Internet Banking application. So you have to login to our Internet Banking Service, go to "Transfers" menu and select "NEFT/RTGS Transfers" option. : You have to Register & confirm your beneficiary before making any fund transfer. This registration & confirmation process is one time activity. Our system sends Tracker ID to you as SMS for beneficiary confirmation. : Transaction amount less than Rs.1,00,000 will be treated as NEFT transaction, otherwise you will have to select NEFT or RTGS option for inter-bank fund transfer. : NEFT Operating Hours : Monday to Friday - 9.00 Hrs to 18.00 Hrs and Saturday - 9.00 Hrs to 12.30 Hrs. RTGS Operating Hours : Monday to Friday - 9.00 Hrs to 16.20 Hrs and Saturday - 9.00 Hrs to 13.20 Hrs. : NEFT Charges : Rs.5.00 per transaction for amount up to Rs.1,00,000. Rs.25.00 per transaction for amount more than Rs.1,00,000. RTGS Charges : Rs.25.00 per transaction for amount up to Rs.5,00,000. Rs.50.00 per transaction for amount more than Rs.5,00,000.

ABOUT US

Our Profile The dawn of twentieth century witnesses the birth of a banking enterprise par excellenceUNION BANK OF INDIA that was flagged off by none other than the Father of the Nation, Mahatma Gandhi. More Our Vision To become the Bank of first choice in our chosen areas by building beneficial and lasting relationship with customers through the process of Continuous improvement. More Corporate Mission Our corporate mission to gain market recognition in chosen areas by building effective strategies. More Board of Directors Our board comprising of eminent individuals who are experts in diversified fields of Banking Like Retail, SME, and Technology etc. More Cheif Vigilance Officer Report any breach of ethics to our Chief Vigilance Officer .... More Organizational Structure Our Bank has a lean three-tier structure. The delegated powers have been enhanced. The decentralised power structure has accelerated decision-making process and thereby Bank quickly responds to changing needs of the customers and has also been able to adjust with the changing environment. More Technology Union Bank of india has accepted this challenge and has positioned itself to opportunities

that technology has throwm open. The opening up of the conomy together with near total decontrol from the regulatory authorities has added impetus to our efforts More CODE OF BANKS COMMITMENT TO CUSTOMERS This is a voluntary Code, which sets minimum standards of banking practices for banks to follow when they are dealing with individual customers. It provides protection to you and explains how banks are expected to deal with you for your day-to-day operations. More
Banking Ombudsman Scheme - 2006

We are covered by Banking Ombudsman Scheme - 2006 of Reserve Bank of India. More Compensation Policy Genuine claims arising out of erroneous and unwanted direct debits made to the customers account due to frauds/mistake or fault in the system will be disposed of expeditiously. More Grievance Redressal Policy There is well-established public grievances machinery in our bank functioning at three levels i.e. Branch, Regional and Central Office level. All complaints received at every level is immediately acknowledged, redressed and final reply is also given to the complainants. More Model Code Fair lending practices to provide professional, efficient, courteous, diligent and speedy services in the matter of retail lending.. More Model Code for Collection of Dues Fair practices especially with regard to collection of dues and repossession of security More Cheque Collection Policy Guidelines for time frame for the collection of outstation and local cheques. More Risk Management Union Bank of India (UBI) has taken various initiatives for strengthening the risk management practices and has a comprehensive risk management program being implemented More

Our Training System Union Bank has one of the best training systems in India. Our staff college at banglore More