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All-India Toll Free number1800 22 22 441800 208 2244 All-India Toll Free number for PMJDY Scheme1800 22 22 43
Dedicated Number for NRI+918025302510  
 
 
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DIGITAL BANKING
FAQs For IMPS
FAQs
 
FAQs For Immediate Payment Service (IMPS)
 
 
1. What is IMPS?
 
Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service through mobile phones/ ATM / Internet banking /Branch.
 

2. Does the customer need to have a bank account for availing IMPS?

 
Yes, the customer needs to have a bank account with the bank which has enabled this facility.
 
3. Does the customer need to register to remit the funds through IMPS?
 
Yes. The customer has to register his/her mobile number with the bank..
 
4. What beneficiary details does the customer need to do an IMPS remittance?
 
The beneficiary details required are
 
  • Beneficiary's Account Number
  • Beneficiary's Bank IFSC Code
 
5. Is there any limit on the value of transactions in IMPS?
 
The customer can transact on IMPS subject to a daily cap of Rs. 2 lacs. Transactions up to Rs. 5000/- can be facilitated by banks through SMS based mobile banking
 
6. What is SMS based IMPS?
 
Customer can use SMS tags for doing IMPS Transactions. Tags list for SMS based IMPS transactions is available on our website.
 
7. Can we withdraw and / or deposit money using IMPS?
 
Presently, the customers cannot withdraw and / or deposit money using IMPS.
 
8. What are the timings for initiating and receiving IMPS remittances?
 
IMPS is available on 24x7 basis..
 
9. If the transaction is not completed will the customer get his / her money back? When?
 
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 in 3 working days.
 
10. How long does it take for the remittance to get credited into the beneficiary account number?
 
The funds should be credited into the beneficiary account immediately.
 
11. Can the remitter transfer funds from his / her to the beneficiary account in other bank?
 
Yes, the remitting customer can transfer funds to the beneficiary account in other banks.
 
12. How does the remitter come to know that his account is debited and funds have been credited in the beneficiary's account?
 
The remitting bank sends a confirmation sms to the remitting customer about the transaction initiated by him / her.
 
13. How does a beneficiary come to know of funds being credited to his / her banks account?
 
The beneficiary bank sends a confirmation sms to the beneficiary customer informing him / her of the credit in the account.
 
14. When can the beneficiary use the funds received through IMPS?
 
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.
 
15. Where do I register a complaint with reference to the IMPS transaction?
 
The complaint can be registered with our call center (1800 22 22 44/ 18002082244) or at the respective branch.
 
16. Are all banks offering IMPS?
 
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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