RBL Bank, one of the country’s fastest growing private sector banks, has launched a new and more convenient mode of funds transfer called P2C (Pay to Contact). RBL mobile banking users can transfer funds to their mobile contacts by merely entering the phone numbers irrespective of the beneficiary bank accounts.
P2C is available across all three platforms — Android, iOS and Windows.
A user has to log into the Bank’s mobile banking app, select the P2C option, and enter the mobile number of beneficiary and the amount to be transferred. A one-time password (OTP) is sent to the user, and post-validation, the transaction is completed. P2C can be availed of for a maximum amount of Rs 10,000 per day. A user need not know details of the beneficiary bank account.
The beneficiary, in turn, will receive a link to claim the amount. This is valid for three days.
P2C will facilitate swift and secure transfer of funds to a beneficiary. Additionally, a user can check the status of all funds transfer in the P2C history report.
RBL Bank is a technology-driven bank that is continuously looking to enhance banking experience for its customers.