You must have received an SMS on your smartphone? You must even have noticed the term ‘TRF.’ written in the particular SMS. The reason you have visited this page. We can understand the concern. You might be looking for detailed information on the term ‘TRF.’ No, worries. You have landed in the right place.
The term ‘TRF.’ means transfer. This word is commonly used in the banking sector to send transfer SMS to customers. Thus, there is nothing to be worried about. Another question, what is the TRF Full-Form in banking?
No worries. We have added this article to provide all the detailed information on this term. Let’s have a look.
What is TRF Full-Form in Banking?
We have mentioned it earlier. The term ‘TRF.’ means a transfer, whenever a person transfers funds from their bank account to another bank account. A simple word is used to describe such transactions ‘TRF.’
You even have seen such a term in most banking SMS. Sometimes, TF and XFER get used instead of using the primary term for transferring funds. But, whatever the word is, the meaning will be the same in the banking industry.
You now must have worried about this question ‘What is TRF Full-Form in Banking?.’
The quick answer to this question is ‘Transfer.’ Transfer is the full form of the term TRF in banking. (We even have mentioned it multiple times in this article above.)
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Frequently Asked Questions
Many questions are repeatedly asked of us. Therefore, we have decided to cover up a single piece of information in one section. Let’s find out the answers to all commonly asked questions below.
Why do banks use this term?
This term can be used for the following reasons;
- You might have noticed this term written in the bank statement of your account. This indicates the debit and credit transactions used for transferring funds.
- Similarly, if you transfer funds from the bank account or receive such a transaction then this word comes into use.
- In most cases, this word gets used for transferring the funds within the same bank accounts.
Where can we see this word?
We have provided all the information related to ‘TRF Full-Form in Banking.’ However, if you want to see this term in banking? You can see this term in the below areas;
- Bank Statement
- Bank Passbook
- Transaction SMS
Why do the banks apply charges for TRF?
There is no clear answer to this question. Some banks even allow the customer to transfer funds using the IMPS/NEFT facility at no extra cost. While some banks charge some amount for completing such transfers.
You are now at the end of this article. TRF is the word that is often used in the banking industry for stating the fund transfers transactions in the bank account statement.
Most people were worried about this term. Therefore, we have decided to end their search and added this article along with every information they need to know. We hope it helps.
Krishna Murthy is the senior publisher at Finance XOD. He is not only the senior publisher but also the owner of Tricky Finance. Krishna Murthy was one of the brilliant students during his college days. He completed his education in MBA (Master of Business Administration), and he is currently managing the all workload for sharing the best banking information over the internet. The main purpose of starting Tricky Finance is to provide all the precious information related to businesses and the banks to his readers.