Indian Bank IMPS Process & Charges

This heading can address key questions about transaction limits, charges, and the operating times for the IMPS service. It will directly impact users who are considering IMPS as a money transfer option and want to understand the cost and time implications.

Content suggestion:

1. Charges: Discuss the transaction fees, including minimum and maximum limits.
2. Limits: Specify daily and per-transaction limits on IMPS transfers.
3. Timings: Provide information on when IMPS transfers are available (24/7).

Features of IMPS facility offered by Indian Bank

Some of the key features of Indian bank IMPS facility are as follows:

1. Time and cost saving.
2. Safe and Secure.
3. Available 24 hours.
4. Provides confirmation of debit as well as credit.
5. Can be used by those customers who have not availed mobile banking.
6. Easy to use.

Benefits of using Indian Bank IMPS Fund Transfer

When a customer uses the facility of Indian Bank IMPS fund transfer, they avail certain benefits which are mentioned below:

1. IMPS transactions can be made to pay utility bills, DTH top-up, clear credit card bills, pay education fees, to purchase travel tickets and groceries.
2. The service is available 24/7.
3. IMPS fund transfer is completely free.
4. The beneficiary receives the transfer immediately.
5. Can be done from anywhere and at any time - even on bank holidays, public holidays and Sundays.
6. All customers having an Indian Bank account can facilitate the use of IMPS.
7. Customers can transfer up to Rs.50,000 in a single day.

How to Transfer Money Using IMPS?

There are two ways an Indian Bank customer can transfer funds using the IMPS facility. They are:

1. Using internet banking
2. Through SMS

Using internet banking

1. Login to the Indian Bank Online account using the username and password.
2. Select 'Fund Transfer.'
3. Thereafter, select IMPS as the mode of fund transfer
4. Choose any option among 'IMPS using IFSC code' or 'IMPS using MMID.'
5. Enter the amount to be transferred.
6. Click on 'Confirm.'
7. Enter the 'One Time Password' or the select grid numbers on the debit card.

Through SMS

An Indian bank customer can also transfer funds to anyone through an SMS. All that the person needs to do is to send an SMS to 94443944443 by typing the mobile number of the beneficiary followed by his/her MMID, amount, MPIN and the MMID of the remitter. Once the SMS is sent, a confirmation message is sent on the registered mobile number of both the remitter and the beneficiary.

How to Add a Beneficiary or Payee?

Prior to sending money to an individual using the IMPS facility, the beneficiary needs to be added. To add a beneficiary, the steps mentioned below need to be followed:

1. Login to the Indian Bank online account using the username and password.
2. Click on 'Fund Transfer'.
3. Thereafter, select 'Add Payee' from the same bank or any other bank other than Indian Bank.
4. Enter the details of the beneficiary like name, bank account number, and IFSC code.
5. Next, click on 'Confirm.'
6. Enter the registered mobile number to authorise the new payee.
7. On doing so, the bank will send a message stating that you have entered a new payee.

It needs to be mentioned that a new beneficiary/payee added is confirmed by the bank within a period of 30 minutes. Once the payee is confirmed, one can transfer funds to him/her.

Prerequisites for availing IMPS facility

Prior to using the IMPS facility offered by Indian Bank, customers who want to use the facility need to make sure that certain prerequisites are fulfilled. They are as follows:

1. Register the mobile number with the bank branch.
2. Subscribe to mobile banking facility offered by the bank.
3. Get the MPIN and MMID.

How to get the MMID?

MMID which stands for Mobile Money Identifier is a seven-digit unique number that is issued by the bank to the customer when he/she registers with IMPS. MMID can be availed by the customer by sending an SMS to 9444394443 by typing MMID followed by the account number provided by Indian bank.

Common Issues with Indian Bank IMPS

This heading can focus on common problems users might encounter while using IMPS (e.g., transaction failures, incorrect MMID, etc.), along with troubleshooting steps.

1. Failed Transactions: Provide guidance on how to handle failed or pending transactions.
2. Beneficiary Issues: Suggest solutions for issues like incorrect details or delay in payment to the beneficiary.
3. Technical Problems: Offer advice on troubleshooting mobile banking and internet banking issues.