There are various channels such as Net Banking, NEFT, RTGS and mobile banking that can be used for funds transfer. An individual can initiate the transaction by using MMID, mobile number, account number, and IFSC code. The Immediate Payment Service (IMPS) can be used to make instant fund transfer from Axis Bank to another bank or an Axis Bank account maintained with the same or another branch. There are several benefits of using an IMPS interface for fund transfer rather than using RTGS or NEFT. But, all the account holders must be aware of the Axis Bank IMPS charges applicable.
Axis Bank IMPS service is available 24 x 7 and 356 days a year for all the account holders of the bank. The IMPS system falls under the purview of the Reserve Bank of India and is operated by the National Payments Corporation of India.