Online banking services are paramount in the fast paced world that we live in today. IDBI Bank ensures that all its customers have access to latest technology to make quick fund transfers at their convenience. IMPS or Immediate Payment Service is one of the many online fund transfer options available. Out of all the banks, IDBI Bank also brings its account holders with IMPS facility to make payments instantly. But, one should be aware of the IDBI Bank IMPS charges applicable before making such transfers.
IDBI Bank IMPS Charges for Different Amounts
IDBI Bank levies service charges on IMPS Facilities provided to customers. IDB IMPS Charges through Net Banking, Mobile & Branch Channel are as follows:
| Transaction Amount | IDBI IMPS Charges* |
| Up to Rs. 1,000 | NIL |
| Rs. 1,001- Rs.1,00,000 | Rs. 5 |
| Greater than Rs.1,00,000 | Rs.15 |
*Standard GST charges are applicable on all the service charges mentioned above.
IDBI IMPS Options
With IDBI IMPS, there are two options available for making fund transfers depending upon the beneficiary details provided:
1. IMPS Using MMID
Each account that is registered for mobile banking is given a unique 7 digit MMID or Mobile Money Identification Number. The first four digits of this number are used to denote the bank that you wish to make the transfer to. If you are using the MMID to transfer funds, you need to provide the following details of the beneficiary:
- Name of the Beneficiary
- MMID of the Beneficiary
- Registered Mobile Number of the Beneficiary
2. MMID using IFSC Code
In case the beneficiary does not have access to the MMID Number, you also have the option of using the IFSC code. An IFSC code is a unique identification code provided to each branch of a bank. The details required for making transfers using IFSC Code are:
- Name of the Beneficiary
- Account number of the Beneficiary
- Beneficiary bank IFSC Code
Using IDBI IMPS Services
You can make online transactions using mobile banking or net banking facilities through IMPS. Follow these steps to complete the transaction.
- Log into your mobile or net banking account with a username and password.
- Under the Fund Transfer menu, choose IMPS.
- Add the beneficiary details which include the MMID and mobile number or the account number and the IFSC Code.
- Register the beneficiary.
- Then type in the amount that you wish to transfer.
- Click on submit to complete the transfer.
- Once your transaction is successful, you will receive notification along with an IMPS tracking number to check the status of the transfer.
- Once the amount has been credited into the beneficiary account, both the remitter and the beneficiary will receive a notification via SMS.
How is IMPS Beneficial
IDBI IMPS has certain features that make it extremely beneficial to the users, such as:
- This is a 24×7 fund transfer option that is operational even on bank holidays and Sundays.
- IDBI IMPS Charges are nominal
- The funds are transferred in real time. This means that the amount will reflect within 30 minutes of completing the transaction.
- The unique MMID and IFSC code option makes it a secure transaction option.
- You can track all the transactions that you have made by accessing your net banking or mobile banking account.