As a banker, I can tell you what is UTR number in bank. It is a unique code assigned to each banking transaction. It is primarily used to identify and track fund transfers made through the NEFT, RTGS and IMPS systems.
This number helps banks and customers trace the status of their transactions quickly and efficiently.
What is UTR No in Bank?
The UTR number is usually 16 characters long for NEFT and 22 characters for RTGS transactions. It helps both banks and customers track the status of a fund transfer. It comprises a mix of letters and numbers that indicate specific details about the transaction:
Bank Code: The first four characters represent the originating bank.
Date: The following six digits denote the transaction date.
Unique Transaction ID: The rest of the characters form a unique reference number generated by the bank.
For example, a UTR number like HDFC123456789123456789 would indicate that the transaction was initiated by HDFC Bank, and the numbers provide further details.
When sending or receiving money, the UTR number acts as a reference to confirm that the transaction has been completed successfully. If a transaction issue arises, banks may request the UTR number to trace the transaction and provide resolution.
I hope you get an idea of what is UTR number in NEFT transaction.
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What is UTR Number in Bank?
ravi
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51 days
2024-09-19T08:07:03+00:00 2024-09-19T08:07:04+00:00Comment
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