The National Electronic Funds Transfer (NEFT) is a popular banking service by which people transfer money from one bank account to another. As per the latest data released by the Reserve Bank of India (RBI), India recorded a mammoth 85 crore NEFT transactions amounting to INR 38.48 lakh crore in January 2025. Despite that, there's always confusion regarding these transactions. Most people wonder about the transaction status and the time it gets credited to the beneficiary bank account. Some people remain under the impression that NEFT transactions are credited instantly. But as it's not the case, they become concerned. With unknown reference numbers, tracking the NEFT funds transfer status becomes even more cumbersome and annoying. This leads to massive enquiries by people regarding NEFT transactions online, at bank branches and even at the customer care centre. Yet most queries remain unresolved, causing unnecessary chaos among people.

In this blog, we will explain the easy-to-use methods to check NEFT transaction status. Keep reading!

What is NEFT?

As told earlier, National Electronic Funds Transfer is a way by which people can make fund transfers from one bank account to another. They can opt for NEFT transactions via Internet banking, mobile banking, or even visit the bank branch. The process starts by adding the beneficiary's bank account number and IFSC, which stands for Indian Financial System Code, and submitting the same for verification. The verification process can take around 30 minutes to an hour to complete. Once the verification is successful, the beneficiary account will be added. Upon successful addition, you can transfer funds. The credit will happen based on a half-hourly settlement batch processing system.

The NEFT system, which is under the supervision of the RBI, was introduced by the Institute of Development and Research in Banking Technology in 2005. Before December 2020, NEFT transactions were not getting credited after banking hours and on bank holidays. Online NEFT transactions are available 24x7, whereas branch-related transactions will happen only on the working day.

NEFT transactions, when executed online, are free of charge.

How Long Does an NEFT Transaction Take?

There's no stoppage to initiating NEFT transactions. However, the credit takes time owing to a batch processing system that works on a half-hourly basis. The settlement takes place within 1-4 hours of initiating the NEFT transfer. You can initiate using Internet banking, a mobile banking app, or even at the bank branch. NEFT operations are on 24x7, including weekends and bank holidays. However, the services won't be available at the bank branch on weekends and bank holidays.

Cut-off Times for NEFT Fund Transfers

On Working Days - 7 a.m. to 7 p.m. (No Transaction Limit)

After Hours - 7 p.m. to 7 a.m. (Up to INR 1 crore per transaction)

Weekends and Holidays - 24x7 (Up to INR 1 crore per transaction)

How to Check NEFT Status Online?

Tracking the NEFT status online is easy in today's digital age. You can track NEFT status online using the reference number, SMS notification, etc.

How to Check with Reference Number?

The reference number is an alphanumeric code for an NEFT transaction. In the banking parlance, it is called the Unique Transaction Reference (UTR) number. It is used to track and verify the transaction. It is usually represented in XXXXNYYYYMMDDNNNNNNN.

XXXX - Bank Name

N - NEFT

YYYY - Year

MM - Month

DD - Date

NNNNNNN - Unique Sequence Number

You can log in to Internet banking or mobile banking app and go to the 'NEFT' section and put the UTR to find its status.

SMS Notifications to Check NEFT Status

Upon transferring money via NEFT, you receive an SMS notification from your bank with a reference number. You can use it online to find the status.

Visit the Bank Branch

In case you are not comfortable checking the NEFT status online, you can always visit the nearest bank branch and show the official there the reference number. The official will check the NEFT status with a reference number on the bank portal.

Contact the Customer Care Centre

You also have the option of contacting the Customer Care Centre. Just connect with it on the toll-free numbers and tell the official your reference number. The official will likely respond to your queries in a few minutes.

Don't Mind Using the Chatbot Service for NEFT Status

In today's age of artificial intelligence, banks are increasingly incorporating chatbots to resolve customers' queries. You can find those chatbots on the bank's official website or app. Just share the Unique Transaction Reference number and the chatbot assistant will come up with a reply in seconds.

Common NEFT Transaction Statuses and Their Meanings

NEFT transaction statuses can be - Pending, Processed, Failed or Reversed.

Pending - It means the transaction is awaiting approval from the bank or the RBI. There may be certain discrepancies owing to inaccurate beneficiary details. Inaccuracies can pertain to the beneficiary customer's name or account details. In that case, the beneficiary addition request will be denied. So, while adding the beneficiary, ensure the details are accurate. This will lead to smooth approval for beneficiary account additions.

Processed - The 'Processed' status means the NEFT transaction is processed through the settlement batch. At that point, the transaction will be verified before getting credited to the beneficiary's bank account.

Failed - This status implies that the beneficiary has not received the money. Reasons can be server downtime or some other reasons. In case of a server downtime, wait for some time. If the problem persists, visit the branch or call the customer care department. Even if the sender's account is debited and the beneficiary has not received a credit, the former will get a refund within 1-2 working hours either directly or upon a request.

Reversed - It means the money has failed to reach the beneficiary account number. The money is thus reversed to the sender's bank account. It could be due to discrepancies during the batch processing time. To know the exact discrepancies, you need to contact the bank via email, SMS, or even at the branch or customer care department.

When Will My NEFT Transaction be Credited?

NEFT transactions will be credited to the beneficiary's savings account within 1-4 hours of initiation. In case the server downtime exists while initiating the fund transfer, there can be delays. So, be patient when that's the case.

Troubleshooting Failed NEFT Transactions

Failed NEFT transactions can cause concerns for both the sender and beneficiary. In most cases, the amount will not be debited. However, some cases can see a debit. Don't press the panic button. Because the money will be refunded. However, check the reasons for a failed transaction. Contact the bank official at the branch or at the customer care centre for the same. If it's the server issue and your account has been debited, no issues! The bank official will accept your request and ensure you get a refund within 1-2 working hours. You can thus transfer later by checking the beneficiary bank name and other details.

Frequently Asked Questions (FAQs)

1. How do I track my NEFT transaction status?

You can track your NEFT status with the reference number you receive upon initiating the transaction. Enter the number while using the internet banking or mobile banking app to know the status.

2. What should I do if my NEFT transaction is delayed?

Contact the bank official with your reference number to know the reason for delays. In case the sender's account is debited but the beneficiary has not received money within the stipulated 1-4 hours, a complaint needs to be registered.

3. How long does it take for NEFT transactions to reflect?

NEFT transactions are credited within 1-4 hours based on the half-hourly batch processing system.

References

https://rbidocs.rbi.org.in/rdocs/NEFT/PDFs/RTGSNEFTJAN25CD5E02D1321249779606FFE4BADF8439.PDF

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