How to Check NEFT Transaction Status With Reference Number?

byMehak BaglaLast Updated: August 9, 2024
Check NEFT Transaction Status with Reference Number

Key Takeaways:

  • The NEFT UTR number is a 16-digit unique identifier essential for tracking NEFT transactions.
  • The UTR number can be found on the online banking confirmation screen, printed receipts, or in your account statements.
  • The UTR format “XXXXNYYDDDNNNNNNNN” includes the bank code, NEFT server identifier, year, day, and a unique ID.
  • Allow at least 2 hours before checking the status of your NEFT transaction for processing time.
  • Ensure the IFSC and beneficiary details are accurate to prevent transaction failures.
  • Failed NEFT transactions are refunded to the sender's account automatically.
  • Paytm UPI is an alternative to NEFT, offering instant transfers without needing to add beneficiaries first.

When you initiate an NEFT (National Electronic Funds Transfer) transaction, the bank assigns a unique reference number, also known as the Unique Transaction Reference (UTR) number. This reference number can be used to track the status of your NEFT transaction. 

Table of Contents Show
  1. What is a Reference Number?
  2. How to Check NEFT Transaction Status with Reference Number?
    1. 1. Internet Banking
    2. 2. Mobile Banking App
    3. 3. Contact Your Bank
  3. Where Can You Find the Reference Number?
  4. What is the Format of a NEFT UTR Number?
  5. NEFT Transaction Status- Points to Consider
  6. Paytm UPI – Another way to Perform Bank-to-Bank Transfers

This blog explains the process to check NEFT transaction status and a lot more about it.

What is a Reference Number?

An NEFT reference number, also known as a Unique Transaction Reference (UTR) number, is typically 16 digits long. It is a unique identifier assigned to each NEFT transaction. It’s like a tracking code that allows you and your bank to monitor the progress of your money transfer. You’ll find this number on your transaction receipt or online banking confirmation screen.

How to Check NEFT Transaction Status with Reference Number?

1. Internet Banking

This is often the most convenient way to check your NEFT transaction status. Here’s what to do:

  • Login to your bank’s internet banking portal using your credentials.
  • Navigate to the “Transactions” or “Account Statement” section.
  • Look for the NEFT transfer you want to track and find the corresponding UTR number.
  • Click on the transaction or UTR number to view the status. This will typically display whether the transaction is “initiated,” “pending,” “successful,” or “failed.”

2. Mobile Banking App

Many banks offer mobile banking apps that allow you to check your account activity and transaction history. Here’s the process:

  • Open your bank’s mobile banking app and log in securely.
  • Navigate to the “Transactions” or “Account Activity” section.
  • Find the NEFT transfer you’re interested in and locate the UTR number.
  • Tap on the transaction or UTR number to view the status. Similar to internet banking, it will indicate the current stage of your transfer.

3. Contact Your Bank

If you’re unable to access internet or mobile banking, you can always contact your bank’s customer care service. Here are the options:

  • Phone: Call your bank’s customer care number and speak to a representative. You’ll need to provide your account details and the UTR number for the transaction you want to track.
  • Branch Visit: You can also visit your bank branch in person. Speak to a customer service representative and provide them with your account information and the UTR number.

Additional Tips

  • Keep your UTR number handy: Always make a note of the UTR number when you initiate an NEFT transaction. This will be crucial for tracking the status later.
  • Allow processing time: NEFT transactions typically take anywhere between 2-24 hours to be processed, depending on the bank and time of day. Don’t panic if you don’t see an update immediately.
  • Check for SMS or Email Alerts: Some banks offer SMS or email alerts for NEFT transactions. These alerts may include the UTR number and the status update.

Where Can You Find the Reference Number?

You can find your NEFT UTR number in a couple of places depending on how you initiated the transfer:

  1. Online Banking Confirmation Screen: If you initiated the NEFT transfer through your bank’s online portal, you’ll likely find the UTR number displayed on the confirmation screen immediately after the transaction is complete. This screen will often show a summary of the transfer details, including the recipient’s information, amount transferred, and the unique UTR number.
  2. Transaction Receipt: If you initiated the NEFT transfer through a physical bank branch, you’ll receive a printed receipt as confirmation. This receipt will typically include the transaction details, including the recipient’s information, amount transferred, and the UTR number.
  3. Account Statement: Even if you don’t have the initial confirmation screen or receipt, you can still find the UTR number later. Look for the NEFT transaction in your online bank statement or a physical copy you may receive. The UTR number will be associated with the specific NEFT transfer details.

What is the Format of a NEFT UTR Number?

The Unique Transaction Reference (UTR) number for a NEFT (National Electronic Funds Transfer) transaction follows a standard 16-character format. The UTR number is structured as follows: 

“XXXXNYYDDDNNNNNNNN”

Let’s break down the format:

  1. XXXX – The first 4 characters represent the 4-digit bank code, which is the same as the first 4 digits of the IFSC (Indian Financial System Code) for the bank.
  2. N – The 5th character represents the NEFT server identifier.
  3. YY – The 6th and 7th characters represent the last two digits of the year in which the transaction was processed.
  4. DDD – The 8th, 9th, and 10th characters represent the day of the year the transaction was processed, ranging from 001 (January 1st) to 365 (December 31st).
  5. NNNNNNNN – The last 8 characters represent the unique transaction reference number, which the bank determines.

For example, a NEFT UTR number could be:

123H230061000001

In this case:

  • 1234 is the bank code
  • H indicates the branch server processed the NEFT transaction
  • 23 represents the year 2023
  • 061 represents the 61st day of the year (March 2nd)
  • 00001 is the unique transaction reference number

The NEFT UTR number serves as a unique identifier for the transaction and can be used to track the status of the transfer and resolve any issues that may arise.

NEFT Transaction Status- Points to Consider

Before you get worried about the status of your NEFT transaction, it is important that you consider the following points-

  • Wait 2 Hours: Hold off on checking the status for at least 2 hours after processing your NEFT transaction. It takes time for them to be processed.
  • Double-Check IFSC: Incorrect IFSC code (bank code) will cause your transaction to fail. Ensure you have the right one before initiating the transfer.
  • Accuracy is Key: While NEFT failures are rare, providing accurate beneficiary information is crucial. Double-check account details to avoid delays.
  • Refunds for Failed Transactions: Don’t worry if your NEFT fails. If the money gets deducted but not credited, it will be refunded to your account.
  • Contact Your Bank: If the status remains unknown or unclear after 2 hours, reach out to your bank’s customer service for assistance.

Paytm UPI – Another way to Perform Bank-to-Bank Transfers

Paytm UPI is another convenient way to perform instant bank-to-bank transfers in addition to NEFT and IMPS. Here are the key points about using Paytm UPI for money transfers:

  • Paytm UPI allows you to transfer funds from your bank account to any other bank account instantly and securely.
  • To use Paytm UPI, you need to create a UPI account on the Paytm app by linking your bank account. Your UPI ID will be automatically generated, typically in the format of your mobile number@paytm.
  • You can transfer money using Paytm UPI by entering the recipient’s mobile number, scanning their QR code, or using their UPI ID. The recipient can be selected from your phone contacts as well.
  • Enter the transfer amount, select the bank account to use, and enter your UPI PIN to authenticate the transaction. The money will be instantly transferred to the recipient’s account3.
  • Paytm UPI has a daily transfer limit of ₹1 lakh and is free of charge. It offers a convenient alternative to traditional methods like NEFT which require adding beneficiaries and waiting for approvals.
  • Paytm keeps a record of all your UPI transactions, allowing you to easily track the status of your transfers.

Disclaimer: The purpose of this blog is to simplify complex processes for readers’ understanding. Please note that some information and screenshots provided may become outdated or change over time. However, we strive to keep our blogs updated and relevant to provide accurate and helpful information.

Mehak Bagla is a financial Content Writer with over 3 years of work experience in the industry. She is a passionate writer with professional approach in digital marketing. In her spare time, Mehak loves to write, travel, and listen to music.

FAQs

How can I check my NEFT status?

To check your NEFT status, you can refer to your SMSs or emails. Once the money is credited to the receiver's bank account, you will receive an SMS or an email notification.

Are there any additional charges on NEFT transactions?

No, there are no additional charges on NEFT transactions. As of January 2020, RBI has instructed banks not to levy any additional charges on online transactions made through NEFT.

How much time does it take to settle NEFT transactions?

NEFT transactions are typically settled either immediately or within 2 hours. However, the actual settlement time may vary from one bank to another.

What are the NEFT transfer timings?

Previously, NEFT transactions could only be performed between 8:00 AM and 6:30 PM from Monday to Friday, and between 8:00 AM and 12:30 PM on Saturdays. NEFT transactions were not available on Sundays. However, since January 2020, NEFT transactions can be performed at any time, on any day, and from anywhere.

What is the maximum amount allowed for NEFT transactions?

While the Reserve Bank of India (RBI) does not impose a maximum limit on NEFT transaction amounts, individual banks may have their own restrictions on the maximum amount that can be transferred. It is advisable to check with your bank for any such limitations.

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