Hey, Do you have a savings or current bank account with the Bank of India? If the answer is yes, then you must have heard the term TRF. Do you know about TRF meaning in the Bank of India?

Many of you have registered with the SMS services offered by the Bank of India. The transaction SMS often contains the term TRF that is usually sent on to the customer whenever a transaction happens in their bank account.

Given below is the information related to TRF meaning in the Bank of India.

Full-Form Of TRF in Banking

You must know about the full form of TRF in Banking before you learn about TRF meaning in BOI. The TRF full form is just a single word and that is transfer. Yes, this is true TRF Full form in banking means transfer.

Use of TRF Term In Banking

When the transfer of funds occurred from one bank account to another it is known as TRF. The alternative words of TRF that banks use are TR and XFER.

TRF in Bank of India

Similarly, the meaning of TRF is the same in the case of the Bank of India. Whenever there is any fund transfer that happened from one BOI account to another that will incur a  TRF charge.

The TRF fund transfer charge includes SMS charges, internet banking charges, and processing fees.

A small amount will be debited when a transfer of funds takes place. The account holder will be notified through SMS.