How Bank Transfer Money to Another Bank

The Banking sector has gone through a vast development phase and the scene today is that most of the banking customers are happy and 100% contended with the services any particular bank provides after Bank IFSC code is given to them. Some of the major banks are offering lucrative services, and deals in order to please and attract as many customers as they can.

Here, we are discussing some of the finest banks in India including Bank of Baroda. A customer must know Bank of Baroda IFSC code as this would simplify the money transfer process of the two participating banks.

TransferMoney to Another Bank Account

If you are one of the privileged customers of Bank of Baroda, then hopefully, you don’t need to an introduction to the quality of services this bank offers in order to take customer satisfaction level to a level that is beyond any customer’s imaginations.

Internet Banking is one of the easiest and convenient services supported by Bank of Baroda. This facility can be used to transfer money from BOB to any other bank like Punjab National Bank, State bank of India, IDBI, HDFC, OBC, Indian Bank, IOB, etc. You need to visit this bank branch personally, simply at your home and enjoy the magic of Internet banking either on your desktop or Mobile.

Net Banking is quite an easy way of transferring money from one bank to another. You need to be a master of computers or the Internet; you will be guided by the set of instructions that will pop up when you start entering your Bank of Baroda IFSC code. If you want to learn some basics to how money is transferred to the other bank, and then we are here to guide you in this direction.

Let us move Step-wise to Transfer Funds to another account
Once you have added the other person as a beneficiary in your BOB online banking portal. You can now start transferring funds from your account to another account.

  • The first step of money transfer is going to ‘Funds Transfer’ and then click the option that says ‘Non-Bank of Baroda Account Transfer ‘for transferring money to other bank accounts.
  • This will display the list of the beneficiaries that you have added in your account. Now click on the beneficiary name where you want to send the money.
  • You can see the details of beneficiary as well by clicking the option of ‘Get Beneficiary Details’.
  • Enter ‘Payment Account‘, ‘Payment Remarks like the details and total amount you would be transferring.
  • You have the option of scheduling the payment and incase, you don’t want to, and then click ‘Pay’.
  • This will direct you to a page that asks for your authenticity by checking user ID and Password for the transaction. Click on the option ‘OK’.
  • This completes the payment process.
  • A payment transfer receipt will be given, you can save it and take print out later on.
  • This amount will be automatically transferred to the beneficiary account within hours.

Now you have successfully learned the complete process of money transfer to the other banks. Hope you find this information useful.