Zero commission deposits and withdrawals using the most famous Indian banks.

UPI and Netbanking offered by Justforex

Justforex, an online broker ready to satisfy any need of its traders and offer a trading environment full of opportunities, has recently expanded the list of payment methods available. From today every trader for his deposits and withdrawals on the Justforex trading account, will be able to opt for the use of UPI and Netbanking.

The new services offered will allow you to carry out any withdrawal / deposit operation using the most important banks in India, and as with all other payment options, Justforex will not charge any fees for both deposits and withdrawals.

It will be possible to carry out deposit and withdrawal operations thanks to the use of one of the following banks:

1. Bank of Baroda Corporate.
2. Bank of Maharashtra.
3. Canara Bank.
4. Catholic Syrian Bank.
5. Deutsche Bank.
6. Dhanlaxmi Bank.
7. Federal Bank.
8. ICICI Bank.
9. Indian Bank.
10. Indusind Bank.
11. Jammu and Kashmir Bank.
12. Karnatka Bank Ltd.
13. KarurVysya Bank.
14. Ratnakar Bank.
15. South Indian Bank.
16. State Bank of India.
17. Union Bank of India.
18. Yes Bank.

The main transaction features include a minimum deposit amount of 10 USD and a maximum amount not exceeding 600 USD.

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What is UPI

UPI stands for Unified Payments Interface, and is an instant execution payment system developed by National Payments Corporation of India to make any banking transaction as simple as possible. The extremely intuitive interface is managed by the Reserve Bank of India and operates by transferring funds instantly between two bank accounts through the use of portable devices such as smartphones, tablets or PCs. Furthermore, the UPI was developed on the Immediate Payment Service (IMPS).

The general structure of the interface includes:

1. A virtual payment address (in short, a unique ID provided by the credit institution).
2. An “IFS Code” account number
3. An identifying telephone number with MMID (Mobile Money Identifier).
4. An Aadhaar number or alternatively a temporary virtual ID.
5. MPIN (Mobile banking Personal Identification number) necessary for the confirmation of any operation to be carried out (deposits and withdrawals).

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What is Netbanking

Netbanking, more commonly known as “home banking”, is a service offered by most banks around the world and now available for all types of bank current accounts. This function offers complete management of your current account in complete autonomy and without necessarily having to go to the bank, receiving valid support while remaining comfortably at home.

In order to use the software that allows you to access your “virtual bank” you will need to follow the following simple steps:

1. Download the “Netbanking” software from your bank’s official website.
2. Proceed to register your current account online providing the personal data requested.
3. Enter the login credentials for the online bank account and view the menu list.
4. Use the menu list for full management of your current account, deposit account, securities account and the financial instruments on which you have decided to trade.

To date, in a world where everything can now be done through the use of the internet, Netbanking is a service that has not only revolutionized the management structure of the current accounts of traditional banks, but has also given rise to the creation of banks 100 % online, which allow anyone to carry out practically all the main operations related to their current account exclusively through the use of the internet. Furthermore, thanks to the demolition of the physical infrastructuresgate to internet banking, benefits were found for both customers and banking institutions:

1. Extremely low running costs.
2. High return rates.
3. Any operation in complete autonomy without the use of doors
4. No hidden fees
5. No brokerage costs and high quality services at reduced costs.

The Metbanking service is available both for PCs and for all existing mobile devices, IOS and Android smartphones, tablets, laptops, etc.