Our Services

Real Time Gross Settlement (RTGS)

Vysya Co Operative Bank has sub membership for RTGS with Axis Bank. ”RTGS” stands for Real Time Gross Settlement. RTGS system is a funds transfer mechanism where transfer of money takes place from one bank to another on a “real time” and on “gross” basis. This is the very quickest possible money transfer system through the banking channel. Settlement in “real time” and the transactions are settled as soon as they are processed. “Gross settlement” means the transaction is settled on one-to-one basis without clustering with any other transaction. As this money transfer takes place in the books of the Reserve Bank of India, the payment is considered as final and irrevocable. The minimum amount to be remitted through RTGS is 2.00 lac. There is no upper ceiling for RTGS transactions. RTGS eliminates settlement risk. The volume of RTGS transactions is increasing rapidly.

National Electronic Fund Transfer (NEFT)

Vysya Co Operative Bank has direct sub membership for NEFT with Axis Bank, NEFT is an electronic payment system to transfer funds from one account to another, between NEFT participant bank branches in India. in which transactions are settled in batches. It is a risk free, secure and reliable mode for transfer of funds of any amount.

Lockers

Lockers Facility can avail by an individual in his own name or More than one person in their joint names after obtaining required agreement & KYC Documents.

• Bank Provides Safe Deposit Locker Facilities To Keep Your Valuables At A Safe And Secured Place.
• Nomination facility available and Mandatory.
• Available Locker Deposit/ Lease amount are as Listed Below

 1

B  (Small Size)

Rs.10000/-

2

M (Medium Size)

Rs.30000/-

3

A  (Big Size)

Rs.50000/

SMS Alerts

Bank provides SMS Alerts by way of push mode facility. Once registering for our SMS alerts services customers shall receive Various Premium Alerts Such as

Push Mode Alerts

  • Account Transaction Alerts.
  • Cheque Returns.

CTS Clearing

As an initiative of gradually shifting towards paperless banking based on technology implementation of CTS clearing systems is adopted by all banks as per the guidelines issued by NPCI, RBI.

  • No physical movement of cheques, drafts etc.
  • Chance of frauds can be minimised
  • Process becomes speedy and time saving.

Demand Draft

Demand Draft

Demand Draft is way for remitters to transfer money

A demand draft is more secure than a normal cheque as it can only be credited to a specific payee's account, and a customer can only be reimbursed under indemnity if the draft is lost or stolen.

Transactions Charge

The structure of charges that can be levied on the customer for Demand Draft is given below:

Issue of Demand Draft / Pay Order / Bankers / Cheque

Our Branches PAY Order

By transfer Or by Cash

Up to Rs. 20,000/-

Rs. 25/-

Above Rs. 20,000/-

( Rs. 25/- + 0.60 Rs. Per thousand)

DD-AXIS/SBI/KVBT Bank/Other

 

Up to Rs. 20,000/-

Rs. 25/-

Above Rs. 20,000/-

( Rs. 25/- + 1.00 Rs. Per thousand)

 

 

 

DD / Pay Order Cancellation Charges :

i

Drawn on our Branches

Rs.  90/- per instrument

ii

OTHER Banks

Rs. 180/- per instrument