How to Check NEFT Transaction Status With Reference Number?

The Unique Transaction Reference number (UTR) or simply, reference number is a unique number generated for every transaction to recognize transactions involving fund transfer. The UTR number is created by the bank that facilitates the transaction. This blog talks about how you can check NEFT transaction status with reference number in complete detail.

Where can you find the UTR Number?

The UTR number, termed as ‘Reference Number’ can be found in the detailed bank statement, under the ‘online banking’ section.

To know about the reference number of any transaction, you must click on the ‘transaction details’ or ‘narration’ in your bank account statement. Upon clicking, the details of the specific transaction will be displayed. For the available details, the UTR number can be easily identified by its format.

Check NEFT Transaction Status with Reference Number

The UTR number can be used to further check NEFT transaction status. To do so, you need to contact the NEFT Customer Facilitation Centre (CFC) of your respective bank. You can find the details of these banks on your banking websites.

Once you manage to contact the CFC of your respective bank, you must provide them with some details related to your NEFT transaction such as your UTR (Unique Transfer Reference) Number, date of transaction, name of bank, etc.

After using your details, the concerned authorities will share the status of your NEFT transaction with you.

How can your check NEFT Transaction Status- Some other ways

There are multiple other ways to check NEFT status than using a reference number. Some of those are explained below-

  • SMS

When you initiate a transaction via NEFT, you have to add the receiver as a beneficiary as one of the first steps. To do so, you have to enter your name, email address and mobile number. Providing these details will help you get notified of your transaction status. As soon as the money is credited to the receiver’s bank account, you will receive an SMS notifying you of the same.

  • Email

After you have added the beneficiary for your NEFT transaction, you are asked to provide your email address. It is important to provide your email address so as to stay notified of all your NEFT transactions. Once the receiver receives the funds that you have transferred to his/her account, you will receive an email stating the successful NEFT transaction.

  • Visiting the Bank

Generally, NEFT transactions are settled within two hours of initiating the transaction. You can use any of the above-mentioned ways to check NEFT status. However, if neither of these ways help you with the status of your NEFT transaction, and it has been more than 2 hours that you have processed the transaction, you may choose to visit the bank physically to check NEFT status.

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-

  • It is advised that you wait for at least 2 hours after processing your NEFT transaction before you check NEFT transaction status
  • Your NEFT transaction will not be processed if you have provided the incorrect IFSC
  • While there are very little chances of an NEFT transaction being unsuccessful, there is still a possibility that your NEFT transaction might fail. Hence, it is important that you provide the correct information at the time of adding a beneficiary for your NEFT transaction
  • you don’t need to worry about an unsuccessful NEFT transaction, irrespective of the reason behind it. If the transaction amount gets deducted from your bank account but does not get credited to the receiver’s account, you will receive the amount back to your account
  • You may reach out to your bank if your transaction status is still unknown or unclear after waiting for 2 hours

How to Transfer Money through NEFT?

Transfer of funds via NEFT is simple and convenient. Here’s what you need to do-

  • Log in to the your internet banking account
  • On the main page, click on ‘Fund transfer’
  • From the drop down menu that appears, select ‘NEFT’
  • Note that you need to ‘Add beneficiary’ to the list of beneficiaries in your account if you haven’t done so already
  • To add a new beneficiary, you need to click on ‘Add beneficiary’ option on the page
  • Enter the beneficiary’s required information such as his/her name, bank account number, IFSC, etc.
  • Click on ‘Confirm’ or ‘Add’
  • To authenticate this step, you will be asked to enter the OTP sent to your registered mobile number
  • After doing so, your action would be processed. It will take around 24 hours to add a beneficiary
  • Once the beneficiary is added to your account, you need to select the beneficiary details (to whom you need to send the money) from your list of beneficiaries
  • Enter the amount that needs to be transferred and confirm your transaction
  • Click on ‘Confirm’ and the amount will be transferred from your bank account to the other’s
How can I check my NEFT status?
You can check your SMSs or emails to check NEFT status. As soon as the money is credited to the receiver’s bank account, you will receive an SMS or an email notifying you of the same.
Are there any additional charges on NEFT transactions?
There were some additional charges on NEFT transactions until December 2019. However, with effect from January 2020, RBI ordered all banks not to charge any additional charges on online transactions made via NEFT.
How much time does it take to settle NEFT transactions?
All NEFT transactions can be settled within 24 hours. The actual time required for the settlement of these transactions, however, may vary from bank to bank.
What are NEFT transfer timings?
Until December 2019, NEFT transactions could be performed only 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 cannot be performed on Sundays. However, starting January 2020, NEFT transactions can be performed at any time, on any day and from anywhere.
What is the maximum amount required for NEFT transactions?
While RBI does not impose any maximum limit on the maximum NEFT amount transfer limit, certain banks may have their own restrictions on the maximum amount that can be transferred.
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