different type of payment method the are used frequently

1. PAYMENT METHORD
By
DEVANSH BHATI

2. METHORDS OF PAYMENT
• RTGS
• NEFT
• DEMAND DRAFT
• CHEQUE

4. RTGS
• The full form of RTGS is "Real Time Gross Settlement". RTGS can be
defined as "the continuous (real-time) settlement of funds transfers
individually on an order by order basis (without netting)"
• In India, transfer of funds with RTGS is done for high value
transactions, the minimum amount being Rs 2 lakh.
• In some countries the RTGS systems may be the only way to get same
day cleared funds and so may be used when payments need to be
settled urgently

5. PROCESS OF RTGS

6. NEFT
• National Electronic Funds Transfer (NEFT) is a nation-wide payment
system facilitating one-to-one funds transfer .
• Under this Scheme, individuals can electronically transfer funds from
any bank branch to any individual having an account with any other
bank branch in the country participating in the Scheme.
• NEFT settles fund transfers in half-hourly batches with 23
settlements occurring between 8:00 AM and 7:30 PM on week days .
• NEFT/RTGS provide flexibility and convenience to departments and its
stakeholders and it should definitely be one of the payment options.

7. Transaction or service charges for NEFT
Transaction Charges NEFT
Amounts upto Rs 10,000 Rs 2.50 + Applicable GST
Amounts above Rs 10,000 and upto Rs
1 lakh
Rs 5 + Applicable GST
Amounts above Rs 1 lakh and upto Rs
2 lakh
Rs 15 + Applicable GST
Amounts above Rs 2 lakh and upto
Rs 5 lakh
Rs 25 + Applicable GST
Amounts above Rs 5 lakh and upto
Rs 10 lakh
Rs 25 + Applicable GST

8. PROCESS OF NEFT

9. DEMAND DRAFT
• A demand draft is a negotiable instrument similar to a bill of
exchange.
• A bank issues a demand draft to a client (drawer), directing another
bank (drawee) or one of its own branches to pay a certain sum to the
specified party (payee).
• Demand drafts can only be made payable to a specified party, also
known as pay to order.

11. DEMAND DRAFT REQUEST FORM.

12. CHEQUE
• A cheque or check is a document that orders a bank to pay a specific
amount of money from a person's account to the person in whose
name the cheque has.
• This mode of payment mode has the highest importance in money
transfer as far as legal methods are considered.As payment by cheque
is always in legal records
• A counter check is a bank cheque given to customers who have run
out of cheques or whose cheques are not yet available. It is often left
blank — hence sometimes called a "blank check", though this term
has other uses — and is used for purposes of withdrawal.

14. CLEARING OF A CHEQUE

15. Thank you