Fund transfers now faster and more seamless with Espresso

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Fund transfers now faster and more seamless with 25 ADDITIONAL supported banks!)

Fund transfers now faster and more seamless with 25 ADDITIONAL supported banks!

0Comments June 09, 2021

In what is BIG NEWS for traders and investors, we are happy to inform that Espresso now supports 25 additional banks for direct fund transfers, making it a total of 31 supported banks!

With this enhancement, customers will have a greater choice of banks from which to directly transfer their funds into their Espresso accounts.

How you benefit

  • Fund transfers are now faster and more seamless!
  • Transferring funds is easier for customers having accounts in these banks
  • Besides NEFT/RTGS and UPI, we have enabled the NetBanking option as well, increasing the fund transfer options for the customer
  • Direct NetBanking is also easily possible 24/7, just like UPI
  • Get instant credit in the Espresso account ledger and start trading immediately after fund transfer!
  • Not restricted by limitations like Rs 1 lakh for UPI

Will there be any change in the fund transfer journey?

Worry not! There are no changes in the fund transfer journey.

Complete list of supported banks with Espresso

Supported Banks
(NetBanking)

Subsumed Banks (if any)

Transaction Charges (if any)

Catholic Syrian Bank


Rs 10 per transaction

City Union Bank


Federal Bank


IndusInd Bank


Jammu and Kashmir Bank


Karur Vysya Bank


South Indian Bank


State Bank of India


Yes Bank


RBL Bank


Shamrao Vithal Co-operative Bank


Bank of Baroda

Includes Dena Bank and Vijaya Bank

Equitas Small Finance Bank


Indian Overseas Bank


Standard Chartered Bank


Indian Bank

Includes Allahabad Bank

Union Bank of India

Includes Corporation Bank and Andhra Bank

AU Small Finance Bank


Deutsche Bank


Dhanlaxmi Bank


Karnataka Bank


Lakshmi Vilas Bank


Saraswat Co-operative Bank


Tamilnadu Mercantile Bank


Punjab National Bank

Includes United Bank and Oriental Bank of Commerce

List of 6 previously supported and still supported banks

 

HDFC Bank

No transaction charges

ICICI Bank

Kotak Mahindra Bank

Axis Bank

IDBI Bank

Bank of India

A note on how transaction charges (if any) are levied

A nominal charge of Rs 10 will be charged on each banking transaction only if the NetBanking facility with these new banks is initiated.

Quick example of how this works

On the Espresso fund transfer window, the amount to be transferred is displayed. Along with this, on the bottom line, customers can also see the Total Amount (including charges, if any) above the Transfer Funds button.

Say a customer wants to transfer Rs 10,000 to her/his Espresso account from Punjab National Bank, which attracts a transaction charge of Rs 10. In this case, the Total Amount column will display Rs 10,010. The customer’s bank account will get debited for Rs 10,010. In the customer’s ledger, a credit of Rs 10,010 will be shown along with a debit of Rs 10 as banking charges.

Fund transer FAQ

R. Kalyanaraman
by R. Kalyanaraman

Chief Executive Officer

I am a sales guy at heart with utmost willingness to listen to people – customers, employees, competitors et al. Nothing gets me a bigger adrenaline rush than an interesting conversation with my customer!

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