The Fund Transfer API enables ERP platforms to initiate single or bulk payouts to vendor bank accounts via Open.
Note :
- Please Find Enterprise Connected Banking Error Code Details here
- Always perform the balance fetch before initiating a transfer to avoid failures due to insufficient balance.
Below are the bank timings and limits for the different transfer modes from ERP's Connected Banking platform.
| Transfer Mode | Amount Limit | Processing Hours |
|---|---|---|
| IMPS | Upto ₹5 lakhs (per transaction) | Credited immediately on all days 24x7. |
| NEFT | Upto ₹2 lakhs (per transaction) | Credited within 2 hours between 8:30 a.m. and 6:30 p.m. on NEFT working days. |
| RTGS | More than ₹2 lakhs (per transaction) | Credited within 30 minutes between 7:30 a.m. and 5:00 p.m on RTGS working days. |
NEFT/RTGS working days - All days except 2nd Saturdays and Sundays and all NEFT/RTGS working days.
Fund Transfer Transaction Types:
Fund Transfer Transaction Types
| transaction_types_id | name |
|---|---|
| 2 | NEFT |
| 3 | RTGS |
| 4 | IMPS |