TPFT Full Form In English
The full form of TPFT is “Third Party Fund Transfer.” It is a term commonly used in the banking and financial sectors, especially in the context of online and mobile banking transactions. TPFT refers to the process of transferring funds from one person’s bank account to another person’s account, where both account holders are different individuals and not linked under the same customer ID in the bank’s database.
TPFT is widely used for sending money to family, friends, vendors, or any other third party through digital means such as internet banking, mobile banking apps, or other electronic fund transfer systems. This method is extremely convenient, secure, and time-saving, allowing users to transfer money from the comfort of their homes without having to visit a physical bank branch.
To initiate a TPFT, the sender usually needs to add the recipient as a “beneficiary” by entering their account details such as name, account number, and the IFSC (Indian Financial System Code) or SWIFT code, depending on whether it is a domestic or international transfer. After the beneficiary is successfully added and verified, funds can be transferred through services like NEFT (National Electronic Funds Transfer), RTGS (Real-Time Gross Settlement), or IMPS (Immediate Payment Service). TPFT plays a crucial role in promoting digital banking and paperless transactions. It enhances financial flexibility for users, enabling seamless fund transfers for bill payments, loan repayments, and more. Security protocols like OTP verification and two-factor authentication ensure that the transaction remains safe.
TPFT Full Form In Hindi
TPFT का फुल फॉर्म है “थर्ड पार्टी फंड ट्रांसफर” (Third Party Fund Transfer)। यह एक बैंकिंग शब्द है जिसका उपयोग तब किया जाता है जब कोई व्यक्ति अपने बैंक खाते से किसी अन्य व्यक्ति के बैंक खाते में धनराशि ट्रांसफर करता है। यहाँ “थर्ड पार्टी” का मतलब है कि प्राप्तकर्ता (Receiver) बैंक का वही ग्राहक नहीं है जो ट्रांसफर करने वाला (Sender) है – यानी दोनों के खाते अलग-अलग ग्राहक आईडी से जुड़े होते हैं।
TPFT सुविधा का उपयोग आजकल बहुत तेजी से बढ़ रहा है, खासकर इंटरनेट बैंकिंग और मोबाइल बैंकिंग सेवाओं के माध्यम से। इससे लोग अपने घर बैठे ही किसी और के खाते में पैसा ट्रांसफर कर सकते हैं। यह सुविधा परिवार, दोस्तों, व्यापारिक लेन-देन, बिल भुगतान, ऋण चुकाने आदि के लिए बहुत उपयोगी है।
TPFT करने के लिए, पहले प्राप्तकर्ता को बैंक खाते में “बेनिफिशियरी” (Beneficiary) के रूप में जोड़ना होता है। इसमें प्राप्तकर्ता का नाम, खाता संख्या, और IFSC कोड जैसी जानकारी दर्ज की जाती है। एक बार जब बेनिफिशियरी जोड़ दिया जाता है और बैंक द्वारा सत्यापित हो जाता है, तो ट्रांसफर NEFT (नेफ्ट), RTGS (आरटीजीएस), या IMPS (आईएमपीएस) जैसी सेवाओं के माध्यम से किया जा सकता है।इस प्रक्रिया में सुरक्षा को ध्यान में रखते हुए OTP (वन टाइम पासवर्ड) और टू-फैक्टर ऑथेंटिकेशन जैसी तकनीकों का प्रयोग होता है जिससे लेन-देन सुरक्षित रहता है।
Read More: HR Full Form Of Company In English And In Hindi
Frequently Asked Questions
What is the full form of TPFT?
TPFT stands for Third Party Fund Transfer.
What is a Third Party Fund Transfer?
It is the process of transferring money from your bank account to someone else’s bank account who is not linked to your customer ID.
Is TPFT safe to use?
Yes, TPFT is generally safe when done through secure banking channels. It uses OTPs, encryption, and two-factor authentication for security.
How can I add a third party beneficiary?
Log in to your net banking or mobile banking account, go to the ‘Add Beneficiary’ section, and enter the required account details of the person you want to transfer money to.
What details are needed for a TPFT?
You usually need the beneficiary’s name, account number, and IFSC code (for domestic transfers).
What are the methods used in TPFT?
The most common methods are NEFT (National Electronic Funds Transfer), RTGS (Real-Time Gross Settlement), and IMPS (Immediate Payment Service).
Is there a limit on the amount I can transfer via TPFT?
Yes, banks set transfer limits for TPFT based on the mode of transfer and account type. These limits can vary from one bank to another.
Can TPFT be done internationally?
TPFT is usually used for domestic transfers. For international transfers, banks offer services like SWIFT or wire transfer.
Is beneficiary approval required before transferring funds?
Yes, most banks require beneficiary approval and a waiting period before allowing fund transfers to a new beneficiary.
Can I cancel a TPFT once initiated?
No, once the funds are transferred, TPFT transactions generally cannot be canceled or reversed. Always double-check details before confirming.
Conclusion
In summary, TPFT (Third Party Fund Transfer) is a vital banking service that allows individuals to transfer money securely and conveniently from their account to another person’s account. It plays an essential role in today’s digital banking environment by enabling quick, paperless transactions that save time and effort. With the help of advanced security features like OTP verification and beneficiary approval, TPFT ensures safe and reliable fund transfers. Whether for personal use or business purposes, TPFT simplifies financial transactions and supports a smooth flow of money in the modern economy. As digital banking continues to grow, the importance and usage of TPFT are only expected to increase, making it an indispensable tool for efficient financial management.
