How To Delete Beneficiary Fund Transfer in HDFC Netbanking Account

If you are using HDFC bank for online transfer of money to another account, you should add the beneficiary details (account number and other details of receiver) first. Then you should wait till HDFC enables the new beneficiary for fund transfer. After they enable the beneficiary you can start transferring money. The time to enable beneficiary account depends on the bank policy (right now it is 12 hours). It is important to note that there is a maximum number of beneficiary registration for each type of fund transfer in HDFC bank (Currently it is 50 beneficiaries per each type of transfer). This article is about deleting a no longer needed beneficiary from your HDFC netbanking account.

Steps to Delete a Beneficiary from HDFC Account

Update (05-04-2015): It seems HDFC has removed the feature to delete existing beneficiaries but we can use the edit feature to alter all information we added. The instructions listed just below this update explains this procedure.

Procedure to Modify Beneficiary in SBI A/C
  1. Logon to HDFC netbanking using the link

  2. Click on Funds Transfer on the top menu

  3. Click on Enquire on the left hand menu and then click 'View List of Beneficiaries'

  4. Click on Go button under the Transaction Type. If you are going to edit a beneficiary created for NEFT, you must click the Go button under NEFT. Same rule applies to IMPS, RTGS etc.

  5. Scroll to the bottom of the list where you can see two buttons 'Delete' and 'Add New'. Select the beneficiary name by choosing using radio button and click delete button to remove it from your account.

  6. Now select the beneficiary by choosing the radio button and click Edit. Here you can edit account type, name and email id. Please note that you cannot change the beneficiary type or the account number.

< ------------------ Old Outdated Steps ----------------------->

  1. Login to HDFC Netbanking account

  2. Click on Third Party Transfer
    how to delete beneficiary in hdfc netbanking account

  3. Click on View List of Beneficiaries on the left hand side
    Send fund from HDFC account

  4. Select the Transfer type and click View
    select or create beneficiary account in online banking

  5. Select the beneficiary and click delete
    HDFC payment gateway

  6. Now you need to confirm the deletion of beneficiary

How to Add a new Beneficiary

If you want to transfer money to another account via netbanking, you must add him first in your account as beneficiary. It is necessary for both NEFT and RTGS.
  1. Logon to your account

  2. Click on Third Party Transfer
    how to delete beneficiary in hdfc netbanking account

  3. Click on Add a Beneficiary
    NEFT transaction failed

  4. Click on Continue button and enter the account details to which you want to send money.

Money transfer methods RTGS and NEFT are different in the way they work. If you want to transfer money real time without delay, you must use RTGS option. RTGS stands for Real Time Gross Settlement and you can transfer money by online to accounts in any banks within India without any delay. You do not need to wait for clearance to accomplished the process. However, banks charge a fee for this type of money transaction and currently HDFC charges RS 25 for any transaction between 2lakh to 5lakh. If the amount is higher than 5lakh, you must pay Rs 50 as fee. Though banks claim real time transfer, RTGS doesn't work on holidays and non banking time. Another issue with RTGS is the higher minimum amount to transfer. We can start RTGS request only if the amount is at least 2lakh. Another mode of online money transfer by HDFC is NEFT. It stands for National Electronic Funds Transfer and you can send payments to any third party accounts in India with few restrictions. HDFC charges a small fee for NEFT money transaction depends on the transaction amount.



Rajan said...

Can you tell me how to add a new Beneficiary in my bank account ? Can I transfer money from my State bank (SBI) account to another HDFC account ?

Nitin Pritwani said...

Beneficiery can be deleted, on the last step where you can edit the beneficeiry there is also one more option to delete beneficeiry.

Alex George said...

Thanks for your correction Nitin. I didn't notice that option. I will check it and update the article.

Rinkesh Saraiya said...

Thank you. Much useful.

sojan said...

Yes.. Its very simple.. You need to activate netbanking + third party transfer to use this feature..

Ravi Shastri said...

Thank you so much . Helpful

Vijayakumar Rajaram said...

Thanks, It helped a lot!

Achintya Dwivedi said...

nice details

Vishnu Kumar said...

Thank you so much.. It was very helpful.

Arun .A. Manoharan said...

Thank you so much...

Manish Singh said...

Thank You , It was a great help.

sneha suresh said...

thank you

Unknown said...

Its very useful and simple

Venkatakrishnach Bhat said...

thank you so much..