Can I add maxgain account as third party payee to my Citibank/HDFC savings account for online money transfer?

POSTED BY shreyasds ON February 19, 2014 7:08 pm ONE COMMENT

Dear Ashal

I am planning to transfer my home loan from HDFC to SBI maxgain… Just wanted to confirm the following details:

Is it necessary to have a SBI Savings account to link to OD maxgain account?

Can I add maxgain account as third party payee to my Citibank/HDFC savings account for online money transfer?

Is there a facility to transfer money online from maxgain account back to a different bank account?

If i transfer money to maxgain account; what will mode of payment- SI or ECS?

Appreciate all the help….

One reply on this article “Can I add maxgain account as third party payee to my Citibank/HDFC savings account for online money transfer?”

  1. ashalanshu says:

    Dear Shreyas, I’m trying to answer your queries.

    Is it necessary to have a SBI Savings account to link to OD maxgain account?
    NO. Not necessary.

    Can I add maxgain account as third party payee to my Citibank/HDFC savings account for online money transfer?
    Yes. My own Max Gain account is linked with my other bank accounts in IOB as well as ICICI to transfer money from there to Max Gain.

    Is there a facility to transfer money online from maxgain account back to a different bank account?
    Yes. I transfer backto above mentioned my accounts from Max Gain as and when I require so.

    If i transfer money to maxgain account; what will mode of payment- SI or ECS?
    If you are transferring from Other Banks to Max Gain one time, it ‘ll be usual netbanking. You can also Initiate SI from your salary account to transfer money, once salary is credited in your bank account.

    Thanks

    Ashal

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