The daily debit limit is a security feature which limits the amount of money that can flow from your account in a day. You can have the following combinations of transactions in your default daily transaction limits:
- A maximum of Rs 50000 on - Fund transfers to self-linked accounts, Other Axis Bank accounts, Creation of Demand Drafts and Axis Bank Credit Card Bill Payment under Credit Card section.
- In addition to the above, a maximum of Rs 50000 on Fund transfers to Other Bank Accounts (NEFT), Bill Payments, Mobile Recharges, Creation of Virtual Cards and Direct Debit transactions (Payment made using Axis Bank Internet Banking at various merchants website).
Yes, you can increase your transaction limit online. Transactions limit upto or less that Rs.2.5 lacs will be processed instantly. Limit enhancement above Rs.2.5 lacs will be sent to branch for approval and will take some processing time.
There are 2 types of transaction limits Type I & Type II, This facility allows you to enhance/reduce your daily financial transaction limits for Type I & Type II each upto 2.5 lakhs instantly and more than Rs.2.5 lakhs within 3 working days of submission of request through Internet Banking
1. Type I : Daily Limit on funds transfers between Own Accounts, Other Axis Bank Accounts & Payment to Axis Credit card under Cards Tab
2. Type II : Daily Limit on funds transfers to Other Bank accounts(NEFT), Bill payments & Bill presentments, Payment using Internet Banking for purchases made at other websites, Online trading Transactions
There are limits on some types of transactions, which cannot be modified. The transaction limits for such transactions are as under :
- e-Wallet card : Rs. 1,00,000 per day
- Visa credit card bill payment : Rs. 50,000 per day
- Fixed Deposits : Rs. 5,000,000 per day
You can do the following types:
- Fund Transfer between your own linked accounts
- Fund Transfer to any Other Axis Bank account
- Fund Transfer to Other Bank's Account (NEFT)
Yes, this facility is available to Non-Resident Indians also. Funds can be transferred from a NRE account to another NRE / NRO / Resident account. Similarly, funds can be transferred from a NRO account to another NRO / Resident account. However, this facility is not available for transfer of funds from resident accounts to NRE / NRO accounts.
Yes Charges applicable will be shown upfront.
The funds are transferred to any Axis Bank account instantly on a best effort basis. Fund transfer to other bank is done on the same working day.
NEFT is a RBI service network which allows participating Banks and their branches to transfer funds within the network in a relatively short period of time. We have extended this service to our customers through the Axis Bank Internet Banking interface. With this you can transfer funds to various branches of most of the banks.
You need to provide following details
- Beneficiary account number
- IFSC Code
The Indian Financial System Code (IFSC) is an RBI issued code which is being used in the NEFT system to identify recipient bank branches. While selecting the payee's branch, it is essential that the IFSC code mentioned against the branch be the same as the IFSC code of the branch you want your funds to be transferred to. Our IFSC code is mentioned on our cheque books on every cheque leaf below the Bank name and address.
Payments having incorrect registration details are generally returned by the recipient bank on the second or third day of the transaction. In rare cases when the recipient bank does not revert with the funds, then a follow up is needed. Please contact us for the RBI reference number of the transaction, basis which you can follow up with the beneficiary bank.
Requests for NEFT are accepted on Holidays & Sundays (Sundays and holidays as defined by RBI) but the actual debit and the transaction is completed only in the next working day.
As per RBI directive, if a customer's account is debited on a given working day then the funds should be transferred over to RBI on the same day. RBI carries out multiple NEFT processing batches in a day in which transactions are submitted. The cut off time is set as per the last batch processed by Axis Bank. This cut off time is currently set at 18.45 pm on weekdays and 12.45 pm on Saturdays.