RTGS

RTGS (Real Time Gross Settlement) is a bank transfer for large payments, sent one by one and settled immediately.

RTGS: RTGS stands for Real Time Gross Settlement. It is used for high-value payments between bank accounts. Each payment is settled individually and immediately, not in a batch. There is a minimum amount, which is why it is used for big sums like property deals.

If you buy a flat, pay a large supplier or move savings between your own accounts, your bank may suggest RTGS. Once the funds are credited at the other bank, they are final. The receiving bank cannot just undo it, and any dispute has to be worked out between you and the receiver. Banks usually ask for the beneficiary account number, IFSC code and the exact amount before you can complete it.

For this reason big-value frauds often ask for RTGS. A fake investment adviser, a changed builder account or a fake tax officer may demand a large transfer. Slow down. For large payments, verify the receiver in person or on a known number, and check the account name in your bank app first. A calm check before pressing confirm is worth far more than any later complaint.

Tips

• Never rush a large transfer, whatever deadline you are told.
• Verify the account name and number with the receiver face to face or on a known number.
• Ask your bank about extra confirmation for high-value transfers.

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