FAQs

Yes, the customer needs to have a bank account with the bank which has enabled this facility.

Presently, the customers cannot withdraw and / or deposit money using IMPS.

IMPS transactions can be sent and received at any time and any day. There are no timing or holiday restrictions on IMPS remittances.

The funds are credited to the beneficiary immediately.

Yes, the customer should have sufficient account balance to initiate a fund transfer.

The remitting bank sends a confirmation SMS to the remitting customer about the transaction initiated by him / her.

Yes. Customer needs to register for Mobile banking and add a new beneficiary using Mobile number and Beneficiary bank name.

The beneficiary should have his mobile number registered with the bank where he/she maintains the account and where he/she intends to receive the credit.

It depends on the bank's mobile banking interface requirements. This varies from bank to bank. To know more about Axis Bank's Mobile Banking Application please click here To know more about Axis Bank's Mobile Banking Application.

At the time of mobile banking registration, customer can set his/her MPIN (Mobile Personal Identification Number) for accessing the mobile banking facility. An IMPS remittance will not be possible without a MPIN.

The beneficiary details required for making a remittance through IMPS Simplified flow are mobile number and beneficiary bank name. Axis Mobile Application has a feature to verify the details of beneficiary during registration. If wrong details are provided, then the beneficiary will not be added.

Customers should take extreme care in providing the account number of the beneficiary. In the case of IMPS transactions, the credit will be given to the customer’s account solely based on account number provided.

Yes, the remitting customer can transfer funds to the beneficiary account in other banks.

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 banks offering IMPS facility using Mobile Number (IMPS Simplified Flow) are listed while adding beneficiary details. If the beneficiary has an account in a bank which is not active on IMPS Simplified flow, the beneficiary registration will not be successful.

Banks live on IMPS funds transfer using Account Number and IFSC are updated on https://www.npci.org.in/what-we-do/imps/live-members

Transactions to non-IMPS enabled Banks will be rejected and the funds will not be debited from the customer's account.

Yes, account will still be debited even if the customer enters the wrong IFSC code. Let us consider an example for IFSC code of incorrect branches. Imagine that you want to send money to the Sewri branch of Axis bank, but you accidentally use the IFSC code for Gokhale marg, Parel branch. In such situations, the money transfer is likely to proceed smoothly, provided that all the other information you have provided is correct. It's important to note that not all banks verify the beneficiary's name before processing the IMPS fund transfer, so as long as the account number is correct, the transaction will be executed.

Yes, NRI customers can transfer funds from their NRI account to a resident account using IMPS.