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| FAQs For Interbank Mobile Payment Service (IMPS) |
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| 1. What is IMPS? |
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| Interbank Mobile Payment Service (IMPS) is an instant interbank electronic fund transfer service through mobile phones. IMPS facilitate customers to use mobile instruments as a channel for accessing their banks accounts and remitting funds there from. |
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| 2. Does the customer need to have a bank account for availing IMPS? |
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| Yes, the customer needs to have a bank account with the bank which has enabled this facility. |
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| 3. Does the customer need to register to remit the funds through IMPS? |
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| Yes. The customer has to register his/her mobile number with the bank and get his/her MMID for availing IMPS. |
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| 4. What is MMID? |
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| Mobile Money Identification Number (MMID) is a seven digit number of which the first four digits are the unique identification number of the bank offering IMPS. |
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| 5. Can a customer link more than one account to the same mobile number? |
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| No. The customer can link only one account to a single mobile number. |
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| 6. What beneficiary details does the customer need to do an IMPS remittance? |
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| The beneficiary details required are |
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- Beneficiary's mobile number
- Beneficiary's MMID
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| 7. Is there any limit on the value of transactions in IMPS? |
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| The customer can transact on IMPS subject to a daily cap of Rs. 50,000/- per customer overall for transactions through mobile for both funds transfer and transactions involving purchase of goods/services. Transactions up to Rs. 1000/- can be facilitated by banks without end-to-end encryption in SMS mode of IMPS. |
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| 8. What is SMS based IMPS? |
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| Customer can use SMS tags for doing IMPS Transactions. Tags list for SMS based IMPS transactions is available on our website. |
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| 9. What is Quick IMPS? |
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| Quick IMPS does not require Beneficiary Registration. The customer can directly input the Beneficiary's Mobile Number & MMID & do payment instantaneously. |
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| 10. Can we withdraw and / or deposit money using IMPS? |
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| Presently, the customers cannot withdraw and / or deposit money using IMPS. |
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| 11. What if IMPS registered mobile is lost or misplaced? Will anyone who comes into possession of mobile be able to make a remittance from customer's account? |
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| 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. |
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| 12. What happens in case the remitter enters a wrong beneficiary mobile number for remittance? |
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| The beneficiary details required for making a remittance are MMID and mobile number. When a wrong mobile number is entered there is a very high possibility of the transaction getting rejected on the basis of MMID and mobile number combination. |
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| 13. What are the timings for initiating and receiving IMPS remittances? |
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| IMPS transactions can be sent and received at any time and any day. There are no timing or holiday restrictions on IMPS remittances. |
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| 14. If the transaction is not completed will the customer get his / her money back? When? |
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| 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 fate of transaction is not determined immediately, the reversal of funds will happen on the next working day. |
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| 15. How long does it take for the remittance to get credited into the beneficiary account number? |
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| The funds should be credited into the beneficiary account immediately. |
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| 16. Can the remitter transfer funds from his / her to the beneficiary account in other bank? |
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| Yes, the remitting customer can transfer funds to the beneficiary account in other banks. |
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| 17. Can I do an Inter-bank fund transfer and merchant payments using UMobile? |
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| Yes, Inter-bank fund transfer and merchants payments can be done using UMobile through IMPS & NEFT. |
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| 18. Is it necessary to have a minimum balance to receive funds through IMPS? |
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| This will be as per the minimum balance requirements prescribed for each category of account. |
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| 19. How does the remitter come to know that his account is debited and funds have been credited in the beneficiary's account? |
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| The remitting bank sends a confirmation sms to the remitting customer about the transaction initiated by him / her. |
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| 20. How does a beneficiary come to know of funds being credited to his / her banks account? |
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| The beneficiary bank sends a confirmation sms to the beneficiary customer informing him / her of the credit in the account. |
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| 21. Can a customer remit and / or receive remittance using the mobile number other than the one registered with the bank? |
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| 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. |
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| 22. When can the beneficiary use the funds received through IMPS? |
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| 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. |
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| 23. Where do I register a complaint with reference to the IMPS transaction? |
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| The complaint can be registered with our call center (1800 22 22 44) or at the respective branch. |
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| 24. Are all banks offering IMPS? |
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| This service has been launched as a pilot with seven banks viz. State Bank of India, Bank of India, Union Bank of India, ICICI Bank Ltd, HDFC Bank Ltd, Axis Bank Ltd and Yes bank, offering IMPS. The updated list of banks offering IMPS will be available in the website of National Payment Corporation of India (NPCI) www.npci.org.in. |
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