Learn more about the Real Time Gross Settlement Service from TMB.
TMB was one of the earliest adopters of RTGS facility in India and currently all our branches are RTGS enabled. Under this system funds can be transferred between two RTGS enabled bank branches irrespective of the bank and the location of the branch.
Tamilnad Mercantile Bank Ltd has implemented ANY BANK / BRANCH Money Transfer facility to its customers with RTGS payment mode on Jan 14, 2005. Using this facility, one can receive / send payment from/to any other bank immediately who is a member of RTGS, located across the country. Every branch of our bank has a distinctive RTGS Code and the same can be seen in the RTGS / NEFT / IFSC / MICR Codes page.
RTGS facilitates quick funds transfer and settlement among the banks, for both Inter bank and Customer transactions. It reduces the settlement risk, as payments are made online. This system is very much helpful not only for banks but also for customers, as payment / receipt is adjusted on the same day on real time basis.
In RTGS, Gross Settlement takes place continuously between 9.00 AM to 4.30 PM and return time is allowed within one and a half hours from the time of receipt of payment.
Presently, in India, 120 Banks have started RTGS transactions with more than 62258 branches. On Jan 14, 2005, TMB started this facility with 45 of its branches. The scheme has been receiving good response from the public and the number of transactions through RTGS is on the increasing trend. So TMB decided to have 100% RTGS status for customer transactions and to enable all its branches under RTGS from Jul 08, 2005. TMB is the First Bank in Tamilnadu and 3rd in India to have 100% RTGS enabled branches. It is possible for the reason that, TMB has already networked all its 509 branches, all the 7 Regional Offices, Extension Counters and Head Office under the “Finacle” platform provided by the renowned software major “Infosys”.
Through RTGS one can send / receive payments across the country to / from any bank / any branch provided sending bank as well as receiving bank are members of RTGS and their branches are RTGS enabled with IFSC Code.
Our Bank’s Customer Facilitation Centre for RTGS / NEFT is functioning in the below mentioned address:
The Chief Manager, RTGS / NEFT Cell
Tamilnad Mercantile Bank Ltd
# 269/2-4, I Floor, Avvai Shanmugam Road, [Llyods Road]
Royapettah, Chennai 600 014. Ph.: 044 2813 1091 / 2813 1092
Fax: 044 2813 1015, Mobile: 0 986 598 5309, Email: [email protected]
To know about the Customer Facilitation Centres of other Banks, please click this link: Facilitation Centres of Other Banks