Bajaj Finserv App

Money transfers and online transactions have become a vital part of our lives. It's all about making quick payments without any hassle, isn't it? Today, we have multiple payment options like RTGS, IMPS, UPI, and various digital wallets. Among these, understanding how RTGS and IMPS work and knowing which is better for your money transfers is crucial. Moving forward, we'll involve other necessary elements like how to check UPI ID and talk about the detailed process of RTGS payment. RTGS: Real Time Gross Settlement RTGS, Real Time Gross Settlement, is a direct payment system. It means that the money is transferred from one bank account to another in real-time and without any waiting period. RTGS method is typically used for high-value transactions, and the minimum amount must be above INR 2 lakhs. You can perform RTGS transactions 24x7 by going to your bank or using your internet banking portal. IMPS: Immediate Payment Service On the other hand, IMPS, short for Immediate Payme...

In today's world of financial technology, where transactions are executed seamlessly and securely, understanding the concept of a payment becomes imperative. A payment refers to the transfer of value from one party (payer) to another (payee) in exchange for goods, services, or both. Payments can be made through various mediums such as cash, cheques, debit cards, credit cards, or digitally through wallet online and UPI money transfer. Digital Payment Methods The digital e-wallet online, known as a mobile wallet, is a kind of electronic card that is employed for transactions made online through a computer or a smartphone. Its utility is on par with a real wallet availed by the individual. This innovative method of payment , addressing the question what is payment , enables consumers to make an online transaction by click of a button. On the other hand, Unified Payments Interface (UPI) money transfer is a system that powers multiple bank accounts into a single mobile application, merg...

The scope of online transactions has widened drastically in the last decade. Enabled by the National Electronic Funds Transfer (NEFT) system, Make in India campaign has launched digital solutions like the Unified Payments Interface (UPI) and Immediate Payment Service (IMPS). But, what is the NEFT money transfer limit, and how do these digital payment solutions compare? NEFT is a payments system enabling funds transfers from one bank to another without requiring physical cheques or cash. By the Reserve Bank of India's decree, there are no restrictions towards the NEFT money transfer limit. One can transfer any amount from as low as Re.1 to whichever extent they wish. The only limitation is the amount that one's bank permits, governed by its fund transfer policies. Undertaken in a half-hourly settlement, NEFT transactions occur on a Deferred Net Settlement basis at settled times throughout each day. Unlike UPI and IMPS, that process fund transfers in real-time, NEFT's half-ho...

Understanding the fundamentals of verifying a reference number for transactions is a vital skill to acquire in today's digital world. The reference number check verifies that each transaction has a unique identifier, offering a traceable proof of payment. Moreover, today's digital payment platforms facilitate such transactions with the utmost ease and security, Bajaj Finserv BBPS platform being a prime example. But do we fully comprehend this process? How can we unblock ATM cards if they get blocked due to security concerns in the process? What is a Reference Number? Simply put, a reference number is a unique set of numbers or letters provided by a bank or financial institution post a transaction, regarding the execution of a payment. It offers a simple yet effective way of tracking transactions and providing proof of payments. Displayed on bank or credit card statements, these numbers come in handy when a customer wishes to raise a dispute or chargeback. Executing a Reference ...

Changing your ATM card PIN can seem daunting if you’re not familiar with the process. Nevertheless, updating your PIN regularly will protect you from the unexpected risk. This article presents a comprehensive guide on how to change your ATM card PIN. Steps to Change Your ATM Card PIN Firstly, it is vital to understand that changing your ATM card PIN involves a simple process that varies slightly from bank to bank. You can alter your PIN through the bank's mobile application, ATM, or website, or by calling customer service. If you're wondering how to change ATM card PIN , these channels provide convenient options depending on your preference and the services offered by your bank. One of the most common methods is to change your PIN at the ATM. Here are the general steps: 1. Insert your card: Start by inserting your ATM card into the machine. 2. Enter your current PIN: You will then need to input your existing ATM PIN. 3. Select the “PIN change” option:   After verifying your P...

  The banking sector has been transforming rapidly. Real Time Gross Settlement (RTGS) transactions, one of the innovative banking features, have made sending money convenient, simple and instant. In 2024, everyone is seeking means to speed up their RTGS transaction time to enable faster and seamless money transfers. This article presents seven compelling ways to facilitate quicker RTGS transactions. 1. Use of Updated Banking Software Financial institutions should employ the latest banking software with high processing speed. Updated software not only enhances the efficiency of transactions but also reduces the RTGS transaction time . Reliable software also ensures the system is error-free ensuring the success of every transaction. 2. Proper Internet Connectivity Excellent internet connection is a non-negotiable mantra for speeding up RTGS transactions. Banks should invest in high-speed internet to prevent delays that stem from weak connections. Customers too need to ensure that the...

  In the ever-evolving landscape of the digital age, Quick Response (QR) codes have cemented their space as a potent tool equipped with revolutionary implications, boosting seamless digital transactions. Originating in the automobile industry in the 1990s, QR codes have evolved through ages to infiltrate various industrial sectors due to their ability to encode ample information in a small, two-dimensional space. In the ever-evolving landscape of the digital age, Quick Response (QR) codes have cemented their space as a potent tool equipped with revolutionary implications, boosting seamless digital transactions. Originating in the automobile industry in the 1990s, QR codes have evolved through ages to infiltrate various industrial sectors due to their ability to encode ample information in a small, two-dimensional space. Understanding QR Codes QR codes consist of squiggly black squares on a white background, quickly readable through a smartphone camera. These unique patterns can sto...

  With the rise of digital transactions, the Unified Payments Interface (UPI) has become a cornerstone of Indian financial technology. A simplistic, fast, and fail-proof platform, UPI enables instant money transfer across multiple bank accounts online. Yet, alongside its convenience come the inevitable difficulties and complaints related to the UPI transactions. Common Issues From failed transactions to wrong receiver issues, such complaints often create roadblocks for users. However, remember that every problem has a solution. With proper steps, these complaints can be effectively resolved. This article aims to shed some light on how to resolve UPI transaction complaint effectively. Preliminary Checks Firstly, acknowledge that not all the complaints related to UPI transactions are due to faults in the system. More often than not, they occur due to issues like low connectivity, typing errors, application glitches, and more. Therefore, before proceeding with the complaint, it is al...