What is a UTR Number? Importance, Features, and How to Find It?

UTR number is a unique identifier that helps track payment, verify status, and resolve disputes. It also acts as proof of payment, ensures compliance, and resolves disputes. Here, you will learn about the UTR Number in detail.

What is the UTR Number?

UTR is a unique identifier assigned to each transaction commonly used in NEFT, RTGS, and IMPS. The full form is a unique transaction reference number. It helps track, identify, and resolve issues related to transactions. It is usually made up of 22 alphanumeric characters that contain a bank code, transaction date, and a unique serial number.

This Number is important for tracing payment status, it is also used as proof of payment and resolving disputes.

Structure of UTR Number

A UTR number can look random but it is a well-structured code that contains valuable information. This number usually contains 22 alphanumeric characters for NEFT and RTGS transactions, and for IMPS it contains 12 characters.

UTR Numbers Format

The first four characters represent the bank IFSC Code.

The next 6 digits contain the date of the transaction (YYMMDD).

• (YY: Last two digits of the year)
• (MM: Month)
• (DD: Day)

The 6 digits contain a unique transaction identifier assigned by the bank.

Use Cases of UTR Number

UTR Numbers can be used for various purposes:

• Payment Proof: The UTR number acts as reliable proof of payment for transactions such as property purchases, loan settlements, or business dealings. They are essential documentation to confirm that financial obligations have been fulfilled. It will ensure legal and financial clarity.

• Tax Compliance: Tax authorities require UTR when filing income tax returns. This helps in the verification of reported income and financial transactions. It will help in fraud prevention and tax evasion.

• Accounting: Banks use UTR numbers to maintain clear records of monetary transactions. These unique identifiers help in identification of the specific payments and help resolve disputes efficiently.

• Tracking Transaction: UTR eases out the tracking transactions, benefiting both banks and customers. They provide a detailed record of the transaction journey from initiation to completion. The tracking helps in accurate fund transfers with minimal errors. It will confirm that the payment reaches to right recipients.

How to Check UTR Number?

From Bank Statement or Passbooks:

• Get your bank statement or passbook.
• Find the specific transaction by checking the details like date, amount, and reference number.
• Find the UTR under labels like “Reference Number,” UTR Number, or “Unique Transaction Reference.”

Internet Banking

• Longing on your banking portal.
• Visit the transaction history or account statement section.
• Select any transaction you want to track.
• Click on the view detailed information.
• UTR will be displayed in the transaction details.
• Now look for the UTR, Reference Number, and Transaction ID file.

Mobile Banking

• Log in to the Mobile Banking App.
• Select the transaction.
• Find the UTR.

In Emails and SMS (Transaction Confirmation)

• Check your SMS and Email box.
• Find the UTR.

How to Track UTR Number Online?

Follow These Simple Steps To Track UTR numbers Online:

• Log into the Bank’s Internet Banking portal or mobile app.
• Go to the transaction tracking or payment status section.
• Enter the UTR and initiate the search to check the transaction status.

Contact Customer Support

• Call the bank customer care number or use their chat support features.
• Provide the UTR and transaction details (date, amount, recipient, bank account).

How Do UTR Numbers Work?

A UTR (Unique Transaction Reference) number works as a unique identifier for financial transactions. It is generated by the bank during NEFT, RTGS, or IMPS transactions. It ensures every transaction can be tracked and identified easily. The UTR contains details like the bank code, transaction date, and a unique reference number.

It helps in tracking the transaction status, resolving disputes, and verifying whether the transaction is completed or pending. Banks and users use it to monitor the transactions.

Features of UTR No.

• Unique Identification: A UTR number is a unique set of numbers and a new UTR is assigned to each transaction.
• Ease out transaction tracking: It helps track the status of NEFT, RTGS, and IMPS transactions.
• Helps in resolving errors: The UTR helps resolve transaction disputes such as failed transactions or delayed payments.
• Inter-Bank Communication: They facilitate communication between banks about a specific transaction.
• Wide Applicability: It is used in various payment systems like RTGS, NEFT, and IMPS.

Conclusion

The UTR number is a unique set of alphanumeric codes assigned to each transaction. It helps track and verify transactions from initiation to completion. You can follow the above methods and steps to track and find your UTR Number.

FAQs

How to Find UTR Number?

You can find the UTR in the transaction history section on the bank statement.

What is a 12-digit UTR No.?

A 12-digit UTR is a unique code assigned to each electronic transaction in India.

How can I check the UTR Number?

You can check the UTR through the bank statement, mobile app, or internet banking in the transaction details. It can also be found in transaction confirmation emails or SMS notifications.

What is the Full Form of the UTR Number?

UTR full form is Unique Transaction Reference.

How to find the UTR for UPI Transactions?

Follow these steps to check the UTR:

• Open UPI App.
• Go to the transaction history section.
• Find and select the transaction.
• Look for the UTR in the transaction details.