Indian Bank Immediate Mobile Payment Service

Benefits of using Indian Bank IMPS Fund Transfer

1. Customers can transfer up to Rs.50,000 in a single day.
2. The beneficiary receives the transfer immediately.
3. The service is available 24/7.
4. Can be done from anywhere and at any time - even on bank holidays, public holidays and Sundays.
5. 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.
6. All customers having an Indian Bank account can facilitate the use of IMPS.
7. IMPS fund transfer is completely free.

Features of Indian Bank IMPS Fund Transfer

To make immediate electronic mobile money transfers customers can facilitate the use of Indian Bank's IMPS fund transfer service. Some of the benefits of this service are listed below.

1. Customers can transfer up to Rs.50,000 using the IMPS fund transfer
2. To initiate an IMPS fund transfer, customers can either use their Mobile Money Identifier (MMID), their mobile number, or bank account number and Bank's IFSC code.
3. Once the transaction has been made, both the remitter and recipient will receive a message confirming the transaction.

How to transfer money by using Indian Bank IMPS Fund Transfer?

There are two ways an Indian Bank customer can transfer funds using the IMPS fund transfer:

Internet Banking- To make an IMPS transfer using one's online bank account, the customer has to first add the payee and then transfer the money once the payee account has been confirmed by the bank. Once a beneficiary is added, the details will be stored for future transactions.

Add Beneficiary

1. Login to your Indian Bank online account.
2. Click on "Fund Transfer".
3. Next, click on "Add Payee" from the same bank or "Add Payee" from a bank other than Indian Bank for an IMPS fund transfer.
4. Enter the details of the beneficiary - Account name, bank account number and IFSC code.
5. Click on "Confirm" once all the details have registered mobile number.
6. Enter the number to authorise new payee.
7. The bank will then send you a message that you have entered a new payee. Contact the bank if you haven't.

IMPS Transfer

1. Usually the payee will be confirmed by the bank within 30 minutes. Once that is done, click on "Fund transfer" again.
2. Select IMPS as the mode of fund transfer.
3. Choose "IMPS using IFSC code" or "IMPS using MMID".
4. Enter the amount to be transferred.
5. Click on "confirm". Enter the OTP if required or enter the select grid numbers on your debit card.

Using SMS - An Indian customer can remit funds to anyone he/she chooses just through SMS. All that he/she needs to do is to SMS the details of the beneficiary's MMID and mobile number and his/her MMID. Listed below are the steps to facilitate an IMPS fund transfer using SMS:

1. The customer has to SMS the details to 9444394443 in the given format -
2. First enter the mobile number of the beneficiary
3. Next, enter the MMID of the beneficiary
4. Enter the amount one wishes to transfer
5. Enter the MPIN and your MMID
6. Once the SMS has been sent, a confirmation message will be sent to both the remitter and the beneficiary

Beneficiary details required for Indian Bank IMPS

To initiate a transfer, the Indian Bank customer has to first enter the details of the beneficiary. One can either transfer funds using the beneficiary's MMID or Bank's IFSC code or account number of the beneficiary (if transaction is done online)

MMID mode - A Mobile Money Identification number is a seven-digit code that is unique for every customer. The MMID is linked to the bank account of customer. The first four digits of the seven-digit code is the unique code of the bank. A customer can generate the MMID through their internet banking account, at an ATM or through the mobile banking app or SMS. For those transferring funds through the MMID mode, listed below are the details that will be required to enter:

1. Name of the beneficiary
2. Mobile number of the beneficiary
3. MMID of the beneficiary

IFSC code - An Indian Bank customer can also transfer funds using the account number and the bank's IFSC code of the beneficiary. To carry out a transaction using the IFSC mode, enter the below mentioned details. The IFSC code helps locate the bank branch of the beneficiary.

1. Name of the beneficiary
2. Account number of the beneficiary
3. IFSC code of the beneficiary