Fund transfer is the electronic movement of money from one account to another. It can happen within the same bank (internal transfer), between different banks (interbank transfer), or across countries (international transfer). It is the backbone of modern banking.
Common methods include NEFT, RTGS, and IMPS in India; ACH and Fedwire in the US; SEPA in Europe; and SWIFT for international transfers. Each has different speeds, limits, and fees. IMPS and UPI are instant; NEFT settles in batches; RTGS handles high-value real-time transfers.
The global payments industry processes over $150 trillion annually in fund transfers. Real-time payment systems are rapidly replacing batch processing — India's UPI alone handles over 10 billion monthly transactions. The future is instant, 24/7, cross-border fund transfers at near-zero cost.