Citibank IMPS Process & Charges

Citibank offers IMPS (Immediate Payment Service) for fast and secure interbank fund transfers. Below are the applicable charges and limits:

1. Charges: Currently, Citibank does not charge for IMPS transfers through its digital channels like mobile or internet banking. However, it is advisable to check with Citibank’s official website or customer support for the latest fee updates.
2. Transaction Limit: Daily Limit: ₹2,00,000 Per Transaction Limit: May vary depending on the channel used (Net Banking, Mobile Banking, ATM)
   1. Daily Limit: ₹2,00,000
   2. Per Transaction Limit: May vary depending on the channel used (Net Banking, Mobile Banking, ATM)
3. Minimum Amount: ₹1

These limits ensure quick and secure fund movement across banks while preventing misuse.

Citibank IMPS Timings & Availability

Citibank IMPS is available 24x7, including Sundays and bank holidays. Unlike NEFT or RTGS, IMPS can be used any time of the day, making it ideal for emergency transfers or instant payments outside banking hours.

Whether it’s midnight or a public holiday, IMPS ensures that your transaction is processed in real-time without delays.

Citibank IMPS Registration Process

To use IMPS via Citibank, registration is straightforward:

• Login to Citibank Net Banking or Mobile Banking.
• Navigate to ‘Fund Transfer’ Section.
• Register Beneficiary by adding their: Name Account Number IFSC Code
  • Name
  • Account Number
  • IFSC Code
• Authenticate the addition via OTP or secure token.
• Once added, the beneficiary will be activated (usually within 30 minutes).
• Start transferring funds using IMPS to the registered account.

Citibank does not require a separate registration for IMPS if you are already using internet or mobile banking.

How to Transfer Money Using Citibank IMPS Facility

As mentioned earlier, there are four channels available to Citibank customers for initiating a funds transfer.

Mentioned below are the detailed process involved:

1. Using Citibank Online: To transfer money using Citibank Online, the individual needs to first login to Citibank Online using the User ID and password. After logging in, he/she needs to click on 'Make Fund Transfers' and then proceed to Instant Fund Transfer (IMPS). Thereafter, the individual needs to select a beneficiary, enter an amount and confirm the transaction.
2. Using Citi Mobile: To transfer funds using Citi Mobile, the individual needs to first select a payee or beneficiary. Next, the individual is required to choose 'IMPS via Account Number and IFSC' or 'IMPS via Mobile Number and MMID'. Following that, enter the amount and confirm the transaction.
3. IMPS via Mobile number and MMID: Sending funds to a beneficiary using Citibank's IMPS facility can also be done by sending an SMS. All the individual is required to do is to type IMPS followed by the 10-digit payee mobile number, 7-digit payee MMID, amount and the last four digits of the debit card and send it to 52484.
4. IMPS via Account number and IFSC code: To transfer funds using the account number and the IFSC code, the individual is required to send an SMS to 52484. The individual is required to type IMPS followed by the payee account number, IFSC code, amount and the last four digits of the debit card.

How to Add a Beneficiary/Payee on Citibank Online

To add a beneficiary for transferring funds, an individual needs to follow the steps mentioned below:

1. Login to Citibank Online.
2. Go to add a beneficiary/payee tab.
3. Provide his/her account number and IFSC code or the beneficiary's mobile number and MMID.

Note: Existing fund transfer payees whose banks participate in IMPS via account number and IFSC code are automatically eligible for IMPS transactions.

Citibank IMPS via ATMs

Citibank also allows IMPS transactions via its ATM network:

• Insert your Citibank Debit Card and enter the PIN.
• Go to ‘Funds Transfer’ or ‘Other Services’.
• Select IMPS Fund Transfer.
• Provide recipient’s Account Number and IFSC Code.
• Enter transfer amount and confirm.
• Collect the transaction receipt.

Citibank IMPS through Mobile Banking

Citibank users can easily send money via IMPS using the Citi Mobile® app:

• Open Citi Mobile® App and login securely.
• Tap on Payments > Fund Transfer.
• Choose IMPS as the transfer method.
• Select or add the beneficiary.
• Enter the amount and remarks.
• Authorize the payment via PIN/OTP.

The transfer is processed instantly, and both sender and recipient receive confirmation messages.

Benefits of Citibank IMPS

When it comes to using Citibank's IMPS facility, there are certain benefits that individuals are liable to avail. They are mentioned below:

1. IMPS service can be used 24*7, even on Sundays and bank holidays.
2. Provides immediate confirmation of transaction.
3. MMID can be generated immediately through Citibank online banking platform.
4. The facility can be used on the smartphones using their registered mobile number.
5. The daily transaction limit is Rs.2,00,000.
6. No transaction service charges are needed to be paid.

Which channels are available to Citibank users for online fund transfer?

Citibank provides its customers four methods through they can be initiated. They are -

1. Citibank Online
2. Citi Mobile
3. SMS
4. Citi ATMs

Online Funds Transfer using Citibank's IMPS Facility

Prior to sending funds for the first time using the IMPS facility offered by Citibank through Citibank Online, the remitter needs to ensure that the beneficiary's name and account number is registered. To do so, one needs to login to Citibank Online using the login ID and password. Thereafter, the beneficiary's details like name, account number, IFSC code of the bank etc needs to be submitted. Once the details are approved by the bank, funds transfer can be initiated.

To transfer funds using the beneficiary's mobile number, the beneficiary's mobile number and the seven-digit Mobile Money Identifier (MMID) number is required to be provided. In doing so, the bank sends a six-digit OTP on the registered mobile number which is required to be provided to authorize payee registration.