More About Payments & Other Credit Cards
Yes, you can schedule an RTGS transaction in advance. It can be done three days prior to the payment date.
Unfortunately, the RTGS system of payment can only be availed through RTGS-enabled banks located within India.
RTGS is a payment service used for higher value transactions and does not have a maximum amount. The RTGS minimum amount is ₹2 lakh.
If not by cheque, RTGS payments can be done by depositing cash at an RTGS-enabled bank branch. Alternatively, you can opt to avail NEFT transfer online via netbanking.
The RTGS full form in banking parlance is Real-Time Gross Settlement. It refers to the real-time transfer of funds from one bank account to another. When you avail the service, the money is debited from your bank account and instantly credited to the beneficiary account electronically. The processing of payments in RTGS occurs individually and not in batches.