Real-time gross settlement

Real-time gross settlement ( RTGS ) is a way of transferring money from one account to another. It sends money immediately, without having to wait for any other payments to be made first.

Think of it like going to the bank. You give your money to the teller, and the teller gives you a receipt. The teller then puts your money into the bank's vault and credits your account with the money you gave them. With RTGS, it's like you and the teller both have digital accounts, and the money you give them gets sent to your account immediately - no waiting for the money to be stored in the vault first. That's why it's called "real-time" - because it happens in real-time.