I have made a request for fund withdrawal on 23rd February 2023 at 10:54 pm… Still now money is not credited in my account… Everytime i contact they said this is a rare issue… What should i do with that… They are saying wait for 26 th feb till 7 pm which is sunday…then how should i contact after that??
NEFT is 24x7 since 2020. I also faced issues on fund withdrawal sometime back. I had to contact dhan customer support couple of times before funds got credited in my account next day evening. As per RBI circular Dec 16, 2019 the NEFT system works like this
So am curious about this part in Dhan support articles. What am I missing @Dhan_Help @PravinJ ?
We had processed your IMPS payout instantly, but the payout confirmation of credit to the beneficiary is pending from your bank.
For certain in progress payouts of IMPS/UPI, there is a TAT of T+2/3 working days, and for RTGS & NEFT the TAT is T+1 working days for it to be cleared by the beneficiary bank. As such, the status of the payout will be updated as per the confirmation received from the bank’s end.
We appreciate your patience.
NEFT is 24 x 7 is actually incorrect, may be true for P2P, but not all payments. The processing when it goes to settlement is real-time, however most banks process the batches at their end in fixed time spots. Only after the banks process it, it will go for settlement.
We use ICICI Bank, you can see their timings here, and so it is same for other banks.
Thanks @PravinJ for the clarification. I talked to ICICI branch manager. He also said p2p NEFT transfer can happen 24x7. But tansfer from pooled institutional account via intermediary can be delayed if its a bank holiday.
Thanks Sameet… I got my money yesterday
Most welcome, even on NEFT we process multiple times in a day - about 5 or 6 times and match our cycles with Banks.
Idea always is - it’s your money, you should be able to withdraw it anytime. That’s why we got instant withdrawals.
Thanks. Please enhance the IMPS limit to Rs.500000(from Rs.100000now) since RBI has now enhanced it to Rs.500000.