Canara Bank NEFT Process & Timings

*Please note that second Saturdays will be holidays

Benefits

1. Safe and secure
2. Most trusted electronic money transfer method
3. Reliable and user-friendly
4. Cost-effective

Limitations

1. Service cannot be availed on bank holidays
2. Transactions are not settled in real-time
3. Batch-wise processing can get time consuming
4. Money will not be credited to the payee immediately.

Canara Bank NEFT Fees & Charges

*Other charges such as taxes may be charged

Process to Transfer Money using Canara Bank NEFT (Online Banking)

Step 1: Log into Canara Bank net banking and enter the respective user ID and password

Step 2: The next step is to go to the 'Payments' section and click on it. Now tap the 'Transfers' option that can be found on the left hand corner

Step 3: Under the transfers tab there will be many options displayed, including 'NEFT'. Proceed to choose 'NEFT'

Step 4: Click on 'Make New Payment' and select the account from which the payment has to be made

Step 5: Now go on to choose the beneficiary. It is important to note here that the payee/beneficiary needs to first be added to continue with this step

Step 6: If the beneficiary is registered you can select the name and all details will be automatically filled in the columns

Step 7: The next thing to do is to key in the amount you wish to transfer and choose the currency type as 'Indian Rupee'. You can save this as a template and keep it for future use at this stage.

Step 8: Once all details are filled, verify the same and click on 'Save and Submit'

Step 9: The last step is to complete the transaction by entering a 'Transaction Password' or OTP. Once the payment is made, a reference number will be displayed on the screen.

How to Use NEFT on Canara Bank Mobile App?

1. Step 1: Download the mobile app 'CanMobile' and register for the same by providing basic details such as phone number and bank details
2. Step 2: Enter User ID and 6-digit MPIN to log in to the CanMobile home page
3. Step 3: Click on the 'Funds Transfer' option and choose 'NEFT'
4. Step 4: Fill in payee/beneficiary details and submit.

How to Pay Credit Card Bills via Canara Bank NEFT

1. Step 1: The first step is to log in to the Canara Bank internet/net banking account
2. Step 2: The credit card should be added as a payee/beneficiary by providing all details such as account number, IFSC code. In case of credit card the following details will be applicable:

1. Step 3: Once the beneficiary is activated, initiate a fund transfer transaction and click 'Submit'
2. Step 4: Ideally, it will take around 2 to 3 working days for the payment to be processed

How to Add a Beneficiary/ Payee through Net Banking

1. Step 1: Log into Canara Bank net banking and enter the respective user ID and password
2. Step 2: Go to the home page and click on 'Beneficiary Maintenance', which can be found under the 'Funds Transfer' menu
3. Step 3: Choose 'Add Beneficiary' and choose the type of transaction, For NEFT click on 'Transfer to Other Bank (NEFT/IMPS)'
4. Step 4: Select 'NEFT' under transaction type and fill details such as beneficiary name, account number, IFSC code, bank name and branch name
5. Step 5: Verify all details and click on 'Add'. This will redirect you to the 'Verify' page
6. Step 6: Check if all beneficiary/payee details are right and then click 'Confirm'
7. Step 7: In the final step, you will be redirected to the 'Transaction Initiation Authorisation' page, where you have to enter 'transaction password or OTP', and click 'Submit'
8. Step 8: The confirmation page will be displayed along with the transaction reference number.

How to Register a Beneficiary for NEFT in Canara Bank

Before initiating an NEFT transaction online, you must add the payee/beneficiary:

• Log in to Canara Bank Net Banking.
• Navigate to Funds Transfer > Add Beneficiary.
• Enter beneficiary details like name, bank account number, and IFSC code.
• Authorize the addition using OTP or transaction password.
• Wait for 30 minutes to 4 hours (depending on bank policy) for activation.

Once activated, you can proceed with NEFT transfers.

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