APSSS Logo

Real Time Gross Settlement (RTGS)

What is RTGS?

RTGS stands for Real Time Gross Settlement. The RTGS is an electronic form of funds transfer for high-value or time-sensitive payments, where money transfer takes place from one bank to another bank in real time and on an individual order basis. Interbank settlement happens throughout the day, rather than just at the end of the day.

What is the difference between ACH and RTGS?

The ACH processes low-value transactions. The RTGS processes high-value and time-sensitive transactions.

How can I use the RTGS?

Transfer of funds with RTGS is done for high-value or time-sensitive transactions.

How can I make an RTGS transaction?

You will need to know the name of the beneficiary, beneficiary's bank, and account number. The initiating bank will send instructions to the receiving bank, and the beneficiary account receives the funds transferred almost immediately. However, each transaction is subject to AML/CFT (Anti-Money Laundering / Combating the Financing of Terrorism) compliance checks.

Ask your bank for your online options.

How Much Does it Cost?

Contact your bank for their fees to send a high-value or time-sensitive transaction.