HDFC Bank customers take note! NEFT facility for money transfer may not be available on April 1, 2024 – here’s why

Apr1,2024



Important Update for HDFC Bank Customers: HDFC Bank has informed its customers that due to year-end financial procedures, National Electronic Funds Transfer (NEFT) transactions may not be available on April 1, 2024. If NEFT is available for some HDFC Bank customers, there may be a delay.
Therefore, individuals planning to transfer funds should avoid NEFT on Monday, i.e. April 1, 2024. An ET report said that if you are expecting salary or other payments through NEFT on April 1, 2024, expect a delay for the same reason.
HDFC Bank suggests using alternative transaction methods such as instant payment service (imp), Real Time Gross Settlement (RTGS), and Unified Payments Interface (is i) for money transfer on that day.
The bank said, “Please note, due to financial year end processes, outbound NEFT transactions may be delayed/may not be available on April 1, 2024. We request you to please complete your transactions using IMPS, RTGS, or UPI during this period. We apologize for any inconvenience that this may cause.”
For any assistance in transferring funds on April 1, customers can contact the bank's customer support team on 1800 1600/1800 2600.
Also Read |Bank Holidays April 2024: Banks will remain closed for 14 days in April 2024; See full list here
Banks will remain closed in many states on April 1, 2024 due to year-end account closing as per RBI guidelines. Most places will be inspected bank closure Except Mizoram, Chandigarh, Sikkim, Bengal, Himachal Pradesh and Meghalaya. It is advisable to check the list of bank holidays before visiting your bank branch on Monday.
Meanwhile, the Reserve Bank of India (RBI) has announced that there will be no facility for exchange and deposit of Rs 2,000 notes from April 1, 2024.
RBI has mentioned that due to annual closure of accounts, there will be no facility for exchange/deposit of Rs 2000 banknotes in 19 issue offices of the Reserve Bank of India on April 01, 2024. This service will resume on April 02, 2024.



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