The following should be ensured while putting through a funds transfer transaction using RTGS –
Originating and destination bank branches are part of the RTGS network.
Beneficiary details such as beneficiary name, account number and account type, name and IFSC of the beneficiary bank branch should be available with the remitter.
Extreme care should be exercised in providing the account number of the beneficiary, as, during processing RTGS transactions, the credit will be given to the customer’s account solely based on the account number
provided in the RTGS remittance instruction / message.
Responsibility to provide correct inputs in the payment instructions, particularly the beneficiary account number information, rests with the remitter / originator.