How to transfer large sum of money quickly?

[Aakash Malhotra]

How can I transfer large sum of money say 1 lakh upwards instantly from 1 bank account to another account?
imps doesn't work because it takes 30 mins to add payee before you can actually transfer the amount.
upi doesn't work because they have daily and transaction limits.

lets say you want to trade and want to transfer amount of 2 lakh to sellers account and transaction time limit is 30 mins, how will you do it?
lets say you want to make a payment in hospital or something , how will you transfer that amount? debit cards have limits as well right?

 

[shashankb]

There are cards which have limit of 2 Lac and above per day with POS machine. Hospital has POS machines usually. Almost all

Source-- HDFC Bank

Dynamic Limit enables you to use your Debit Card over and above your Daily Shopping Limit on select merchant categories. The categories on which dynamic limit is applicable are Airlines, Education, Electronics, Medical, Travel, Tax Payments and Insurance. The mentioned categories are categorized as select merchant category for the purpose of this document

Eg. You are holding HDFC Bank Rewards Debit Card and want to pay Education Fees of 4 Lakhs. You have more than sufficient balance in your A/C. But the Daily Shopping Limit on your Debit card is 2.75 Lakh. In a normal scenario your transaction would have failed but due to dynamic limit feature on your HDFC Bank Rewards Debit Card, the transaction will be successful and you would enjoy a smooth payment experience.

 

[pranav sharma]

better use credit card with 10l limit on some pos

 

[Aakash Malhotra]

and what about online transactions?

 

[igloo]

RTGS or NEFT ?

 

[ijsa]

IMPS does not need 30mins cool off period, if transfer to Ad-hoc beneficiary... It is instant. But I guess limit is 2L.


Source

 

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[Sushubh]

every bank has its own rules regarding this. idfc does not support ad-hoc instant payments when i last checked. also 50K limit for first 24 hours after 30 minute wait after adding a beneficiary.

 

[varkey]

ICICI also lets you transfer immediately after adding the payee if done from the iMobile app.

 

[ijsa]

every bank has its own rules regarding this. idfc does not support ad-hoc instant payments when i last checked. also 50K limit for first 24 hours after 30 minute wait after adding a beneficiary.

I do not have IDFC account but this is what they put on their website.


Source