Fund Transfer
The Fund Transfer APIs enable easy money transfer services between Bank accounts in India. It facilitates ease in the transfer process using technology solutions like NEFT, RTGS and IMPS mode of payments.
APIs
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This service is used to initiate a fund transfer (FT/NEFT/RTGS) via web. API Contains required payment details along with the OTP for validation purpose, API will validate OTP & Beneficiary account with preconfigured account
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This service is used generate Instant OTP .
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Remitter Fetch API facilitate the fetching of remitter details.
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This API is used to enquire the Account details of the Federal Bank customer based on the Account Number provided in the input. It reveals the details like Customer Name, Account Type, Account Status and Balance of the customer.
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The IMPS API could be used to do a nominal value transaction of Rs 1/- ( referred as Penny drop), which in turn can be used to validate 2 aspects before making payments into the new beneficiary account.
- It fetches the name of the account in the other Bank
- It also gives a confirmation whether the fund transfer to that account will be successful or not (we can rule out a credit-freeze scenario in that account)
Remitter should provide the Account Number and IFSC details of the beneficiary whose account needs to be validated. This API will further initiate the transaction to a beneficiary
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In any transaction processing system, some transactions might fail abruptly, or the client may not receive the response during the stipulated time and the call times out. The transaction enquiry API can be used to enquire the status of any Transaction – identified by the Org_ReferenceId.
API responds with the status, and status reason of the transaction identified by Org_ReferenceId. -
This API is used to validate the UPI Virtual ID (VPA - Virtual Payment Address) of the beneficiary before initiating any payment using UPI Channel.
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This Service is used for transferring the money to a bank account across any banks in India via UPI Channel using UPI VPA (Virtual Payment Address).
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Real-Time Gross Settlement (RTGS) is a fund transfer system maintained by the RBI, which enables fund transfer from one bank to another, on a real-time and gross basis. The real-time settlement means transactions are settled as soon as they are processed. The transactions are settled on a one-to-one basis, which means the system will not club or bundle a transaction with another. This is one of the fastest possible ways to transfer money, between Banks in India. RTGS is a better option for high-value transactions, that need immediate clearing. The RTGS service window for customer transactions
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National Electronic Funds Transfer (NEFT) is an electronic funds transfer system maintained by the RBI. It enables Bank customers to transfer funds from any bank branch to any individual having an account with another participating bank branch. The fund transfer is not real-time but takes place in batches that get settled on half-hourly time slots. It means that if the transaction gets initiated after the settlement, it is required to wait until the next settlement time. NEFT does not impose any minimum or maximum limits on the amount to be transferred. The NEFT Fund Transfer API accepts the
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The Immediate Payment Service (IMPS) provides a robust and real-time fund transfer solution, offering an instantaneous, 24x7, interbank electronic fund transfer service, that could be accessed on multiple channels like Mobile, Internet, ATM, SMS, Branch, etc. This facility is provided by the NPCI. To use IMPS for fund transfer, both Remitter, as well as Beneficiary, need to register their mobile number with the respective Bank account and get MMID (Mobile Money Identifier). To cater to a scenario where the Beneficiary’s mobile number is not registered with any Bank Account, IMPS funds transfer
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This Service is used to enquire Beneficiary Details .
Plans
In order to subscribe, you must create an account or sign in.
Basic Plan
100 calls per 52 weeks
Basic Plan
15 APIs including
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Account_Enquiry_API 1.0.0
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Account_Statement_API 1.0.0
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Balance_Enquiry_API 1.0.0
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FundTransfer_IMPS_API 1.0.0
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FundTransfer_IntraBank_API 1.0.0