Mobile IMPS FAQ
Immediate Payment Service (IMPS) enables you to instantly transfer funds online safely from your bank account to accounts maintained with other banks participating in IMPS. This service is available 24x7, even on Sundays and any Bank holidays through Mobile Banking. All you need is a Valid MMID (for mobile banking). This service is brought to you by the National Payments Corporation of India (NPCI) in collaboration with member banks.
Various banks are providing remittance facility through their mobile banking platforms. The interbank remittance request initiated from a mobile is processed by the beneficiary bank as a National Electronic Fund Transfer (NEFT) transaction. The status of such payment request is therefore not known instantly because NEFT payments are processed in batches from 8 AM to 7 pm for week days.(Except 2nd and 4th Saturdays, Sundays and Declared Public Holidays). The NEFT transactions are charged by banks and charges vary from bank to bank.
Yes, the customer needs to have a bank account with the bank which has enabled this facility.
Yes. Customer should enroll for Mobile Banking Service with the bank where customer has an account. The registration process shall be as per their bank’s laid down procedures.
The beneficiary customer should have their mobile numbers registered with the bank where he/she maintain the account and where he intends to receive the credit and should have a valid MMID provided by the bank. No need to specifically enroll for Mobile Banking Service of the bank.
Customer can request for MMID by any of the options below
SMS keyword MMID to number 5676751, in response customer will receive SMS with MMID’s for all savings bank account(s) linked under the userid or Call up Dhanlaxmi bank contact center at +91 044 42413000.
Customer can de-register request for MMID by any of the options below
SMS keyword MMIDCANCEL to number 5676751, in response customer will receive confirmation that his MMID’s for all linked accounts have been cancelled Call up Dhanlaxmi bank contact center at +91 044 42413000. Contact center agent will help the customer in cancellation of existing MMID.
The beneficiary details required are:
- Beneficiary’s mobile number and MMID
(OR) - Beneficiary’s account number and IFSC
Mobile Money Identifier (MMID) is a seven digit random number issued by the bank upon registration. Remitter (customer who wants to send money) and Beneficiary (customer who wants to receive the money) should have this MMID for doing this interbank funds transfer.
Yes. The customer can link the same mobile number to more than one account subject to bank offering that feasibility.
The bank will allocate a Mobile Money Identifier (MMID) for each account of the mobile banking customers. The customer can select the account using this MMID allocated to him / her. The combination of mobile number and MMID helps as a mistake proofing step for the remitter and tries to mitigate the risk of wrong credit incase the remitter enters erroneous mobile number.
Fund Transfer using account number and IFSC:
You can transfer funds to other bank accounts instantly. With this 24X7 facility, money can be transferred anytime, even on bank holidays.
Steps to add a beneficiary :
- On Mobile Banking, click on Transfers and Payments
- Click on Add / Manage Beneficiaries and add beneficiary details
- Click Add Transfer Type and select IMPS
- Select the IMPS transfer type and enter the required details
- Verify the details and click on Confirm
- OTP will be sent to your preferred mobile number
- Enter the OTP and the beneficiary gets activated for transfer after 24 hours.
Steps to transfer money using account number and IFSC:
- Click on Transfers
- Select Immediate Payment Services (IMPS) and select IFSC
- Enter the mandatory details and click on Submit Transaction
- Verify the transaction details and click on Confirm & Transfer
- Enter TPIN and Proceed to get confirmation
Steps to transfer funds using mobile number and MMID:
- Click on Transfers.
- Select Immediate Payment Services (IMPS) and select MMID
- Enter the mandatory details and click on Submit Transaction
- Verify the transaction details and click on Confirm & Transfer
- Enter TPIN and Proceed to get confirmation
Customer is allowed to transfer funds using mobile banking (including IMPS) as per the limits as applicable below. Limit enhancement will be permitted upon specific request by the customer.
- Daily cap of Rs. 50,000/-
- Per transaction cap of Rs.50,000/-
It depends on the bank’s mobile banking interface requirements. This varies from bank to bank. The details can be obtained by the respective banks.
Incase the customer is not able to install the mobile banking application on the mobile handset or the application is not functioning as desired, the customer may need to update the software on the mobile handset and re-install the mobile banking application on the same. If the problem is not resolved, the customer should then contact the helpdesk of the bank whose mobile banking facility the customer intends to use.
Presently, the customers cannot withdraw and / or deposit money using IMPS.
At the time of mobile banking registration, bank would provide the customer with a User id and MPIN (Mobile Personal Identification Number) for accessing the mobile banking facility. An IMPS remittance will not be possible without these two inputs.
The beneficiary details required for making a remittance are mobile number and MMID. The transaction will get declined in case anyone of these two numbers is erroneous and transaction gets reversed instantly.
IMPS transactions can be sent and received at any time and any day. There are no timing or holiday restrictions on IMPS remittances.
Yes. In case for any reason, technical or business, the IMPS transaction is not completed the reversal of the remitters funds will happen immediately. In case if such a transaction becomes a subject to reconciliation wherein the status of transaction is not determined immediately, the reversal of funds will happen on the next working day. In case your Dhanlaxmi Bank account is debited and the beneficiary account is not credited, then please contact our 24x7 Customer Contact Centre at +91 044 42413000.
The charges for remittance through IMPS are decided by the individual banks. Our bank charges are:
| Amount from Rs 1 and upto Rs 10,000 | 5 + Service Tax |
| Amounts above Rs 10,000 and upto Rs 1 lakh | 5 + Service Tax |
| Amounts above Rs 1 lakh and upto Rs 2 lakh | 15 + Service Tax |
| Amounts above Rs 2 lakhs and upto Rs 5 lakhs | 25 + Service Tax |
The funds should be credited into the beneficiary account in about 15-30 seconds.
Yes, the customer should have sufficient account balance to initiate a fund transfer.
The minimum limit for fund transfer through IMPS is Re.1/-
The remitting bank sends a confirmation SMS to the remitting customer about the transaction initiated by him / her.
The beneficiary bank sends a confirmation SMS to the beneficiary customer informing him / her of the credit in the account.
The customer can remit and / or receive funds using the registered mobile number only. In case he / she needs to remit / receive funds using the other mobile number, he / she will have to approach the bank and complete the process of changing the registered mobile number for mobile banking.
The beneficiary can use the funds immediately on receipt of credit in the account. The funds received through IMPS are good funds and can be used immediately upon credit.
Banks live on IMPS funds transfer using mobile number and MMID and IFSC can be viewed
http://www.npci.org.in/bankmember.aspx
No, only debits shall be displayed. For credits into account please check the Last five transaction via Enquiry option of Mobile banking menu
