Funds Transfers

Funds Transfers

Q. What types of funds transfer options are available?

A. There are three types of funds transfer options available:

  • Self account transfer: Use this option to transfer funds between your Deutsche Bank accounts
  • Third party transfer: Use this option to transfer funds to third party Deutsche Bank accounts
  • Electronic fund transfer: Use this option to transfer funds to other bank accounts to over 150 cities in India.

Q. Is this facility available to Non Resident Indians?

A. 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.

Q. Can I schedule a funds transfer?
A. All fund transfers can be scheduled. If the selected date is a holiday then the transfer will take place the next working day.

Q. What is a cyber receipt?
A. A cyber receipt is a printable proof provided for online Fund Transfers.

Q. Are there any charges for fund transfers?
A. There are currently no charges for using the Funds Transfer facility


Self Account Transfer

Q. What is Self Account transfer?
A. The Self account transfer option allows you to transfer funds between your Deutsche Bank accounts.

Q. How much time does it take to transfer the funds?

A. The funds are transferred to your account instantly.

Q. What is the limit for Self Account transfers?
A. There is a daily limit of Rs. 1,00,000 for Self Account transfers.


Third Party Transfer

Q. What is Third Party transfer?
A. The Third Party transfer option allows you to transfer funds from your account to any other Deutsche Bank account.

Q. How much time does it take to transfer the funds?
A. The funds are transferred to your recipient account instantly.

Q. What is the limit for third party transfers?
A. There is a daily limit of Rs. 1,00,000 for within Deutsche Bank accounts Third Party transfers


Electronic Fund Transfer

Q. What is Electronic Funds transfer?
A. The Electronic Funds Transfer (EFT) option, allows you to transfer funds to other bank accounts in over 150 cities in India where RBI has a clearing branch.

Q. How much time does it take to transfer the funds?
A. If the beneficiary bank has centralised clearing services then the funds would be available in the payee’s account the very next working day. How ever in the absence of a centralised clearing service it can take upto 3 or 4 days.

Q. What is the limit for Electronic Fund transfer?
A. There is a combined daily limit of Rs. 1,00,000 for Electronic Fund Transfers and Bill Payment.

Q. What details do I need to know in order to make a third party transfer?
A. To affect a Third Party transfer you need to keep the following information of the payee handy: name, bank’s name, city, branch, account number and account type. In case you do not know the branch, you can select the Service Branch as the designated branch. 

Q. What is a service branch?
A. A service branch is the clearing branch of a bank in the city. In case you are not able to locate the beneficiary’s branch name, you can select the service branch for the bank.