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RTGS

RTGS is a payment method added in Haveno

Real-Time Gross Settlement (RTGS) is an electronic funds transfer system maintained by the Reserve Bank of India. RTGS payment enable immediate and large remittances (minimum of 200,000 INR) by banking customers in India to transfer funds for between any two RTGS enabled bank accounts.

Where can I find out more about RTGS?

Here is a list of RTGS resources:

  • Real-Time Gross Settlement Wiki

What countries are available for RTGS?

RTGS is available users in India.

What currencies are available for RTGS?

RTGS supports INR currency.

What is the maximum trading duration for RTGS?

The maximum trade time is X days. Generally RTGS transfers will be completed within X days.

What is the maximum XMR limit for an RTGS trade?

12 XMR

Is RTGS a payment method that can be signed?

No, RTGS accounts do not require signing.

How do I set up a RTGS account?

Pretty much all bank accounts in India can make RTGS payments.

How do I add RTGS as a payment method in Haveno?

It is easy to add your RTGS account to Haveno.

  • Go to the top menu in Haveno and select Account.
  • Then select National Currency Accounts.
  • Click add new account
  • Select RTGS
  • Complete the details
  • Choose to use a custom account name this helps makes it easier for you to manage multiple payment methods in Haveno (this will be visible only to you, for example: RTGS - INR - Aam Aadmi)
  • Click save new account

If you have more than one RTGS account you wish to add to Haveno you can create different accounts for each.

Make sure all the details are correct when you add.

Warning

RTGS is for payments of large trades of Rs. 200,000 or over.

When setting up your RTGS payment account please make sure to include your:

  • Account owner full name
  • Account number
  • IFSC number
  • These details should match your bank account that you will use for sending / receiving payments.

Please be aware there is a minimum trade amount of Rs. 200,000 that can be sent per transaction. If you are trading under this amount either the trade would get cancelled or both traders would have to agree on another payment method (e.g. IMPS or UPI).

How do I buy XMR with my RTGS account?

You can buy XMR with RTGS on Haveno in 2 waysː

  • Make an offer to buy XMR on the INR market.
  • Take an offer to buy XMR on the INR market.

When the offer is confirmed Haveno will provide you with the XMR Sellers RTGS details for you to complete the payment. You should send payment immediately and confirm you have done so in Haveno by clicking 'payment started'.

If you have the option to include a payment reference please leave it blank. If your bank requires one, please just use your name that matches your bank account.

Once the XMR Seller receives your payment they will confirm in Haveno and your security deposit and your purchased trade amount will be available in your wallet.

Warning

Please send payment only to the account details provided in Haveno.

Please be aware there is a minimum trade amount of Rs. 200,000 that can be sent per transaction. If you are trading under this amount either the trade would get cancelled or both traders would have to agree on another payment method (e.g. IMPS or UPI).

How do I sell XMR with my RTGS account?

You can sell XMR with RTGS on Haveno in 2 waysː

  • Make an offer to sell XMR on the INR market.
  • Take an offer to sell XMR on the INR market.

When the offer is confirmed Haveno will provide with the XMR Buyer with your RTGS details for you to complete the payment. They should send payment at their first opportunity and confirm they have done so in Haveno by clicking 'payment started'.

Once you receive payment from the XMR Buyer you should confirm payment has been received in Haveno. One you have done this the XMR Buyer will receive their funds and you will receive your security deposit back.

Warning

Please be aware there is a minimum trade amount of Rs. 200,000 that can be sent per transaction. If you are trading under this amount either the trade would get cancelled or both traders would have to agree on another payment method (e.g. IMPS or UPI).

Are there any limits for me to be aware of when using my RTGS account?

Minimum amount per transaction is Rs. 200,000

Maximum of 1,000,000 INR can be sent per day.

Are there any fees for me to be aware of when using my RTGS account?

RTGS fees are low. Banks charge different amounts but fees are generally between 25-50 rupees.

How does dispute resolution when trading with RTGS?

If a dispute occurs the arbitrator may ask the buyer to send them information showing that they made the payment of the correct amount to the XMR Seller within the correct time frame.

The arbitrator may ask the seller to send them information to prove their account details are correct, or in the case of the XMR Buyer making a payment late, or of the wrong amount.

For more information see Conflict Resolution.