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  • HDFC Credit Card Bill Payment Through IMPS And NEFT

    Do you hold an HDFC credit card? If yes, which type of internet banking payment option (s) do you prefer the most? Is IMPS or NEFT? In fact, both are the most commonly used payment recipes. Most credit cardholders prefer using these options due to their unique features and benefits. They differ from each other in terms of payment processing and the way they function. NEFT and IMPS are advanced internet banking credit card payment options provided by a majority of credit card companies, including HDFC. This page gives HDFC customers valuable insights into internet banking credit card payment options, especially IMPS and NEFT.

    IMPS – An Instant Online Banking Payment System

    Immediate Payment Service, abbreviated as IMPS, is an instant online banking mechanism for fund transfer and payment. It was commenced by the Government of India in 2010. IMPS is presently supported and administered by National Payment Corporation of India. As it name signposts, transactions are immediately processed. This payment service is accessible through various channels, including registered mobile numbers and digital banking platforms. Currently, 101 cooperative banks, 53 commercial banking entities, and 24 PPli offer IMPS.

    Salient Features Of HDFC IMPS Platform For Credit Card Bills

    • The facility is accessible 24/7 and can be also accessed on bank holidays.
    • IMPS by HDF assures the safety of banking business and lessens the risk of identity theft.
    • The system enables customers make interbank and intra bank credit card bill payments immediately.
    • IMPS by HDFC is the simplest and convenient bill payment option.
    • The facility can be used on mobile phones, online banking or internet banking, mobile applications and country-wide ATMs.
    • Credit card bills can be paid from non-HDFC banks as well.
    • HDFC has partnered with more than 49 banks to offer this facility.

    Tips For Making Credit Card Payments Through HDFC IMPS

    • You should be registered for the HDFC internet banking facility. If not, you cannot make credit card payments online. Get registered online. It is simple!
    • Login for internet banking providing your username and password.
    • Once you have successfully logged-in to your HDFC internet banking account, click the ‘Funds Transfer’ button.
    • Click the ‘IMPS’ payment option.
    • Provide the necessary details such as your credit card number, account number, biller details, the billing amount, IFSC code of beneficiaries, etc.
    • Make sure the information you have provided is correct. If yes, click the ‘Submit’ button.

    Note: HDFC code for card remittance via IMPS is HDFC0000128. Use this code.

    How Can I Add Beneficiaries For IMPS

    You can add beneficiaries online. First, you need to login to the HDFC internet banking facility using your user name and password, and then you have locate the ‘Fund Transfer’ tab and click the same. You can add beneficiaries by clicking the ‘Add a beneficiary’ tab. Furnish details such as MMID, contact number, account number, and IFSC code. Finally, click the ‘Add’ tab and authenticate. The same process is followed to add a list of beneficiaries for NEFT as well. Beneficiaries are added and confirmed within 30 minutes.

    NEFT – An Advanced Payment Platform For Credit Card Bills

    The Reserve Bank of India (RBI), the Central Bank of the country, manages National Electronic Funds Transfer (NEFT), which is an advanced system for electronic fund transfer and payments, including credit card bills. This facility allows the transfer of funds amid NEFT-registered banking institutions in India. The requests for fund transfers and bill remittance shall be processed batch wise. According to recent reports, the NEFT payment facility today is provided by more than 101 banks nationwide at 74, 680 bank branches.

    Key Features Of HDFC NEFT Payment Platform For Credit Card Bills

    • Credit card payments shall be processed within 1 business day.
    • Credit card payment requests made on non-business days shall be submitted to the Reserve Bank of India on the next working day.
    • The amount of time required to transfer funds to beneficiaries’ account is reliant on the amount of time consumed by payees’ bank to initiate the payment process.
    • The payee’s bank shall receive money within the slated time.

    Channels to initiate an NEFT transaction

    You can initiate an NEFT transaction through the following channels:

    • HDFC online banking or internet banking
    • HDFC mobile banking
    • Visit the nearest HDFC Bank branch and submit the NEFT form. Your banker shall process an NEFT transaction for you.

    How To Make HDFC Credit Card Bill Payments Through NEFT

    HDFC credit card users can make use of the NEFT internet banking payment option to remit their credit card bills. It is easy. To do so, you should have an HDFC Bank Savings Bank Account.

    • Login to the HDFC online banking service using credentials (User Name and Password).
    • Locate the ‘Fund Transfer’ tab and click the ‘Transfer to Other Bank’ button.
    • Choose the account, beneficiaries, and provide the required information.
    • Make sure you accept the ‘Terms and Conditions’ and review the details you have furnished.
    • Finally, click the ‘Confirm’ button. You are done!

    Note: HDFC code for card remittance via NEFT is HDFC0000128. Use this code.

    NEFT vs IMPS

    Both options differ from each other in many aspects. The primary differences between IMPS and NEFT have been outlined in the below table:

    Parameters IMPS NEFT
    Fund transfer mechanism Funds are transmitted instantly. Funds are transferred within 1-2 business days.
    Charges Customers are not charged for using this facility. They can either transfer or receive funds at not costs. Payment fees are levied on this facility. They differ from bank to bank.
    Failed transactions Funds shall be instantly retuned for unsuccessful banking transactions. For failed banking transactions, funds shall be returned within a few hours.
    Processing time This system can be accessed anywhere anytime. This facility can be accessed only during banking hours.
    Holiday limitation IMPS has no holiday restriction NEFT has holiday restrictions

    FAQs on HDFC Credit Card Bill Payment Through IMPS and NEFT

    1. What is the full form of MMID?

      The full form of MMID is Mobile Money Identification Number. It is basically a 7-digit number.

    2. How can I generate MMID?

      You can generate MMID through HDFC mobile banking, HDFC phone banking, and HDFC internet banking.

    3. What is the information required to process an NEFT credit card payment transaction?

      Payers have to provide the following details to process an NEFT credit card payment transaction through HDFC Bank:

      • Name and account number of the beneficiary
      • Bank details of the beneficiary
      • IFSC code of the destination bank division
      • Credit card bill amount to be paid and the account number to be debited
    4. Can I pay my HDFC credit card bill through NEFT?

      Yes, you can pay your HDFC credit card bill through NEFT under net banking.

    5. How long does it take for an NEFT transaction to get credited?

      An NEFT transaction takes 30 minutes to four hours to get credited to your beneficiary.

    6. Are there any charges for paying my HDFC credit card bill through NEFT?

      No. There are no charges for paying your HDFC credit card bill through NEFT.

    7. How long does it take for an IMPS transaction to get credited?

      An IMPS transaction is credited instantly to the beneficiary.

    8. Is there any particular timing to use IMPS to pay my credit card bill?

      No. The IMPS service is available 24/7 on all days.

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