Neft Advantages And Disadvantages

Advantages of NEFT

  • NEFT is an easy, secure and quick online money transfer system.
  • It is convenient to use NEFT for transferring funds to any bank account.
  • NEFT operations are available 24/7 which makes it very convenient.
  • No limit on the amount of money that can be transferred through NEFT.

Disadvantages of NEFT

  • Sometimes it may take up to 24 hours for the money to be transferred.
  • The maximum amount that can be transferred per transaction is Rs.2 lakh.
  • It is not possible to transfer large amounts of money through NEFT.
  • Some banks may charge a fee for using NEFT.

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