Understanding what is UTR number in NEFT & RTGS

For businesses in India accepting domestic and international payments, tracking fund transfers becomes crucial.

Whether you’re a freelancer, run a startup, or manage a small business, RTGS and NEFT transactions help you move money safely and smoothly.

Each time you send or receive money, there’s one important code that backs your transaction. It’s called the UTR number.

UTR, or Unique Transaction Reference number, is like your transaction’s fingerprint—a unique ID attached to every RTGS and NEFT payment you make or receive.

Here's a beginners guide on what is a UTR number, how to find it, and why it is important.

UTR, or Unique Transaction Reference number, is like your transaction’s fingerprint—a unique ID attached to every RTGS and NEFT payment you make or receive. This is how banks in India function. With this number, you can trace where your money went, when it moved, and whether it reached the right account.

For National Electronic Funds Transfer (NEFT), the UTR number is a 16-digit code. Since NEFT doesn’t process payments instantly, this number helps track the funds as they move through the system.

Real-Time Gross Settlement (RTGS) uses a 22-character alphanumeric UTR number. Since RTGS transfers are completed within 2 hours, this code ensures your money moves securely from one bank to another.

When it comes to moving money digitally, trust and timing matter. UTR numbers safeguard both.

1. Think of a UTR number as undeniable proof that a payment happened. It creates a verifiable trail, making it clear that money was sent or received.

1. They also come in handy when something goes wrong. If a payment gets stuck, is delayed, or doesn’t show up, the UTR number helps track it down without the usual back-and-forth.

1. It’s also a big help on the accounting side. Matching UTR numbers to your invoices or books makes it easier to see which payments are settled and which are still pending.

1. And when it comes to international transfers, they’re essential. Banks rely on UTR numbers to confirm that funds have been received in cross-border transactions.

There are four common ways to find the UTR number after completing an RTGS or NEFT transaction:

1. SMS Notifications from Your Bank:

Most banks send a confirmation SMS after a transaction. The UTR number is usually included in the message, often labeled as a ‘Reference Number.’

2. Email Alerts:

Along with SMS, banks also send email notifications for each transaction. These emails include all the key details—UTR number included.

3. Bank Statements and Mobile Apps:

You can find the UTR number in your bank account statement. If you’re using a mobile banking app, head to the transaction history section—it’ll be listed there too.

4. Payment Receipts:

Banks usually generate a payment receipt after the transaction. The UTR number is clearly mentioned there. You can choose to download or print it for your records.

If the UTR number you entered was incorrec, the money might still go through but it might land in the wrong account. Here’s a simple 4-step process on how you can reverse the transaction:

Step 1: Contact Your Bank Immediately

The moment you spot the error, get in touch with your bank.

You can:

• Raise a request through your mobile banking app
• Use internet banking
• Or call customer care and speak to a support executive via IVR

Step 2: File a ‘Wrong Credit Chargeback’ Request

Once you’ve reported the issue, the bank may ask you to raise a Wrong Credit Chargeback request.

This is usually easier if the wrong credit went to another account within the same bank.

If the funds landed in a different bank, your bank will help identify the recipient and send a return request.

Step 3: Escalate If Another Bank Is Involved

Getting funds back from a different bank takes longer.

In most cases, your bank will coordinate with the other bank to retrieve the money.

To speed things up, you can:

• Write a formal escalation email to the recipient’s bank
• Keep all documentation ready (UTR number, transaction ID, payment screenshot)
• Get a signed consent from the unintended recipient to help smoothen the reversal process.

Step 4: Follow Up Regularly

Once the reversal process is underway, stay in touch with your bank.

For same-bank errors, it usually takes 7–10 business days to resolve.

Cross-bank reversals may take longer, depending on how cooperative the recipient and their bank are.

Understanding how UTR numbers work and where to find them can save you a lot of time and stress when managing digital payments. Whether it’s tracking a transaction, resolving a dispute, or correcting an error, having the UTR handy puts you in control. For businesses dealing with frequent fund transfers, especially across borders, this becomes even more important. That’s where platforms like Xflow come in offering a faster, more reliable way to manage international payments with complete transparency and traceability.