How can you send ₹50,000 without having a bank account? Understand the RBI's new money transfer rules.

The RBI has issued new guidelines for domestic money transfers. You can now transfer up to ₹50,000 via NEFT by making a cash payment at a bank branch. Find out the new limits for transactions made through ATMs, banking agents, and cash payments.

If you send money to family or relatives in another city, these new RBI rules will be useful to you. The RBI has consolidated the regulations regarding domestic money transfers. This includes the continued facility to send up to ₹50,000 via NEFT by depositing cash at a bank branch. However, different limits apply to transfers made through ATMs and banking correspondents.

These new directives from the Reserve Bank of India came into effect on November 11, 2026. It should be noted that the RBI has not increased the existing money transfer limits; rather, it has consolidated the previous rules to clarify the terms, conditions, and security protocols.

What are the new RBI rules?

According to the RBI’s directives, any individual can visit a bank branch and transfer up to ₹50,000 to another person’s bank account via NEFT using cash. It is not mandatory for the sender to hold an account at that specific bank; in other words, even if you are a customer of a different bank, you can still utilize this facility at a bank branch.

This facility is particularly beneficial for those who do not use digital payments or online banking and prefer to send money using cash.

How much money can be sent?

The RBI has also set limits for cash transfers made through banking correspondents (banking agents) and ATMs. If an individual sends money to a bank account via a banking agent or an ATM, they can transfer up to ₹5,000 in a single transaction. The monthly limit for such transfers is set at ₹25,000 per person. Meanwhile, if a person sends money to an individual who does not have a bank account, the limit per transaction will be ₹10,000. Under this rule, a total of up to ₹25,000 in cash can be received in a single month.

Can those without a bank account still benefit?

This initiative will extend banking services to individuals who do not have a bank account or who face difficulties in accessing conventional banking facilities. In particular, laborers and migrant workers employed in other states can use this facility to send money to their families.

Such individuals can receive cash through ATMs or business correspondents, eliminating the need for them to hold a bank account to access the funds.

Verification required before sending money

The RBI has also incorporated security measures into this system. Customers who send money by depositing cash will be registered based on their mobile number and identity documents. Furthermore, an 'Additional Factor of Authentication' will be mandatory for every transaction.

Banks will be required to include the details of the sender in the NEFT or IMPS transaction message. Additionally, a unique identifier must be provided for each transaction, allowing funds sent via cash to be distinguished from other types of transfers.