We personally feel that NEFT is the best form of revolution which has taken in Indian economy as it has given us a freedom to transact from our bedroom. However myopic views of banks are making it difficult for a retail user to execute transfers. Have a look at the charges below:
For outward transactions under RTGS mechanism, banks charge Rs 30 for electronic transfer of Rs 2 lakh to Rs 5 lakh and Rs 55 for amounts above Rs 5 lakh.
NEFT charges range between Rs 5 and Rs 25.
We do hope that good sense prevail and these charges are abolished.