Waiver of Odd Hour Restrictions for NEFT and RTGS Transactions for Internet Banking
What are Odd Hours in Internet Banking? 🕛
In internet banking, “Odd Hours” refer to time periods during which transaction limits are imposed on NEFT and RTGS transfers. These restrictions primarily apply at night, affecting both retail and corporate customers.
| Transaction Type | Time Range | Retail Customers Limit | Corporate Customers Limit |
|---|---|---|---|
| NEFT | 7 PM to 8 AM | Up to ₹2 Lakhs | Up to ₹10 Lakhs |
| RTGS | 10 PM to 8 AM | Up to ₹5 Lakhs | Up to ₹10 Lakhs |
Waiver of Odd Hour Restrictions ✅
To facilitate customers who require higher NEFT and RTGS transaction limits during odd hours, Canara Bank has introduced an option to waive these restrictions. This waiver is granted based on customer requests and business requirements on a case-by-case basis.
How to Apply for Waiver of NEFT & RTGS Odd Hour Restrictions 📋
Customers who wish to avail this waiver must submit an application form at their nearest Canara Bank branch. Upon approval, the restriction will be lifted, allowing transactions beyond the standard odd-hour limits.
Related: Mobile Banking for Minors
Application for Waiver of Odd Hour Restrictions 📝
Date:
From:
Name:
Address:
To:
The Manager
Canara Bank
Branch: __________________
Sub: Request for waiver of odd hour limit restrictions for internet banking transactions for my/our Net Banking User ID/s………………………
Dear Sir/Madam,
I am having an account with your Branch bearing No: …………………… I have availed internet Banking facility on the above said account and my Internet Banking user ID is …………………… I/We hereby request you to waive NEFT & RTGS odd hour limit restrictions for the net banking user IDs…………………… and allow us to do Internet banking transactions 24×7 at par with limit package permitted.
I/We acknowledge the risk involved in using internet Banking without ODD hour limit restriction, however, I/we opt to waive ODD hour transaction limit restriction for my internet Banking facility.
Yours Faithfully,
Name & Signature of Customer
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