How to Add Beneficiary in Andhra Bank Online: Do you want to transfer money from one bank account to another? If yes, then you have reached the right place. Andhra Bank provides a wide range of services to all its bank customers. When you add a beneficiary, you will be able to Transfer Funds from Andhra Bank Account to other Bank Account. It not only allows you to transfer funds between Andhra Bank Accounts but also to Transfer Funds between Andhra Bank and Other Bank Accounts.
How to Add Beneficiary in Andhra Bank Online
Here, in this article, we will provide you all the necessary steps required to add a beneficiary and transfer funds between two bank accounts. Check our post on, Andhra Bank Credit Card Login and How to Link Aadhar Card with Your Mobile Number
How many types of Funds Transfers are available in Andhra Bank Online?
Read More: Link PAN with Andhra Bank Account
There are mainly three types of Fund Transfers available in Andhra Bank Online, they are as follows:
1. Self-Fund Transfers
2. Third Party Transfers
3. External Fund Transfers (Through NEFT)
1. Self-Fund Transfers
Using Self-Fund Transfer, you can transfer funds between two of your Andhra Bank Accounts. For Self-Fund Transfer, you don’t need any kind of beneficiary registration as you can directly pay the amount.
Follow the steps given below to Transfer Funds:
1. Firstly, Visit Andhra Bank Online website and login with your account. Then click on funds transfer and select “Internal self-fund transfer”.
2. Internal Fund Transfer consists of several options:
– Funds Transfer
– Status Enquiry
– Pending Transfers – Show all the scheduled transfers
– After this, choose both the account from and to and then Enter the Amount.
– Now click on “Make Transfer Today” or “Schedule Transfer on the date”.
– Then click on “Transfer” button.
– When Fund Transfer is completed, you can get the cyber receipt by clicking on the save button.
2. Third Party Transfer
How to do Third Party Transfer?
Third Party Transfer is one of the amazing features of Andhra Bank Account. Using this, you can transfer funds from Andhra Bank Account within Andhra Bank anywhere in India. In order to do this, a first-time customer needs to submit a prescribed application in their primary account branch. This is to be done just one time only. This can take about 5 days. After the service is being enabled for the customer, he/she can register and pay online.
Essential Steps to register for Third Party Funds Transfer
1. First of all, login to your account.
2. Then Click on Funds Transfer-> Third Party Transfer-> Make Payment.
3. Now, you will view a new page, here click on “New Payee”.
4. Now, fill the registration form in order to add a payee and then the user needs to enter Andhra Bank Account Number twice to confirm it.
5. Then, click on “Validate” and the system will check whether account no is valid or not and display the message accordingly.
6. When Validation is completed, the system will prompt you to enter Payee city and nickname. Please note that Nickname should be maximum of 20 characters without any special characters and including spaces.
7. Later, you have to click on Add Payee button. Here, the system will prompt you a message for confirmation.
8. After which you will receive Online Authorization Code (OAC) on your registered mobile number.
9. Lastly, accept all the terms and conditions and then enter the OAC and authorize the payee. Please note that authorization process should be completed within 6 hours.
Steps do to Third Party Funds Transfer
1. Firstly, login into your Andhra Bank Net Banking Account.
2. Then click on Funds Transfer-> Third Party Funds Transfer -> Make Payment
3. Now, you have to select the account from which want to make payment and enter the payment amount.
4. Later, you can make the payment on the same day using Hot Payment (click on the checkbox at bottom of page) or else you schedule a payment in future by entering a specific future date.
5. Lastly, click on the pay button and confirm the transaction by entering the transaction password.
3. External Funds Transfer
External Payee: External Payee is basically a payee other than Andhra Bank in India. Using NEFT, you will be able to do External Funds Transfer.
Steps to Register for External Funds Transfer (via NEFT)/ Register for Beneficiary
1. In order to add beneficiary to Andhra Bank, go to Funds Transfer-> External Funds Transfer-> Register Payee for External Transfer
2. Now you have to click on External Payee, to register for the payee, fill all the required details such as Payee name, Account Number, enter IFSC if you know and then enter bank branch and click on Add Payee. Lastly, the amount will be credited to the beneficiary account number given. Also, the beneficiary name will be validated.
3. You can also register for beneficiary without IFSC Code. To add beneficiary without IFSC code, select No in the radio button.
Here, you will be able to select the Bank Branch based on Bank name and city.
4. After this, please select the account type and then click on Add Payee.
5. Now, you will be able to view Beneficiary details on the screen. Now, click on Authorize Payee in order to receive OAC.
6. Lastly, you need to enter the 5-Digit OAC which you have received on your mobile number. Hence payee will be registered successfully and then the customer will be able to make payment directly. Please note that OAC process will take around 6 Hours.
Make Payment using External Funds Transfer
In order to make payment, select from which bank account, then select the Beneficiary name, Enter a valid amount, Enter payment remarks and lastly click on “Pay” button to transfer amount directly.
We hope that you got all the Essential Information about How to Add Beneficiary to Andhra Bank Online. If you liked this article, then please share it with your friends.