What is IMPS?
IMPS stands for Immediate Payment Service. It is an instant interbank electronic fund transfer service, which can be accessed from Mobile Banking or NetBanking.
IMPS(from HDFC Bank) is an instant real time inter-bank electronic fund transfer service. Using this service, you will now be able to receive or send money even on Sundays and Bank Holidays or late at night.
What's more, the money is credited in to the beneficiary account instantly. So go ahead and ask your friends to send you money through IMPS and enjoy instant credits into your HDFC Bank account.
How to Receive Money using IMPS?
Using Mobile Number and MMID
Share your MMID and Mobile number with the sender so that he/she can send money to your account instantly.
How to generate MMID.
- Generate MMID through NetBanking
- Click on accounts section
- Click on Generate MMID under left panel
- Select account and confirm, MMID will be generated instantly
or
- Genrate MMID through MobileBanking
- Logon to MobileBanking App or logon to m.hdfcbank.com from mobile internet browser
- Click on accounts section
How to Send Money using IMPS?
Using Mobile Number and MMID
- Click on "Third Party Transfer" Tab
- Click on “IMPS Funds transfer using MMID” on the left panel.
- Fill the details ie Beneficiary Mobile Number, Beneficiary MMID, Amount , Remark and confirm
- You will receive the confirmation SMS for IMPS transaction
?.........FAQ's..........?
What happens in case I enter a wrong beneficiary mobile number when sending money using option “IMPS using MMID”?
You will have to enter both a mobile number and MMID to initiate a money transfer and funds will be credited to an account. This is another reason why this service is safe.
Is there any limit on the value of transactions when I am sending money using IMPS?
Yes, the limits are as follows:
IMPS using MMID:
NetBanking and MobileBanking: Rs 5000 per day per Custid (on either of the channel)
What are the charges for doing IMPS transactions?
If my IMPS transaction is failed or not completed, by when will I get my money back?
Yes. In case, your account is debited and beneficiary account is not credited, then please call on PhoneBanking number with the following details:
- RRN (Transaction Reference Number)
- Date of transaction
- Amount of transaction
- Remitter Bank name
- Beneficiary Bank Name
The TAT for reveral of amount for failure transaction is 5 days.
Reference : http://www.hdfcbank.com/
!********************* Hope this will be very useful J ***************************!