What is the full form of RTGS

RTGS: Real-Time Gross Settlement

RTGS is an acronym stands for Real Time Gross Settlement. As the name defines, it is a continuous (real time) settlement of funds transfers individually on an order by order basis. RTGS is used to transfer money or securities from one bank to another on a real time and on gross basis.

RTGS systems are generally used for high-value money transactions that require immediate clearing. It is usually operated by central banks of the countries. The electronic payment system is not based on physical exchange of money. It reduces the amount from A’s bank account and adds this amount in account B.

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What is the meaning of Real-Time and Gross Settlement?

Real-Time specifies that the instructions are executed at the same time they are received and the term Gross Settlement specifies that the settlement of funds transfer instructions occurs individually (on instruction by instruction).

JAPAN BOJ-NET (Bank Of Japan Financial Network System)
UK CHAPS ( Clearing House Automated Payment System)
Hong Kong CHATS( Clearing House Automated Transfer System)
Australia RITS ( Reserve Bank Information and Transfer System)
USA Fedwire

What is NEFT

NEFT stands for National Electronic Fund Transfer. This is also a fund transfer method like RTGS. This is a nation-wide payment system used to transfer funds from one bank account to another.

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For more information on NEFT visit NEFT.


RTGS and NEFT both are used for electronic fund transfer. Both are used for same cause but there are some specific differences between them.

For more information visit RTGS vs NEFT