IMPS Charges ICICI

IMPS, short for Immediate Payment Service, is an interbank funds transfer service provided by over 50 public sector, private sector, payment, and regional rural banks in India. Through IMPS customers can make payments instantly on all days of the week even after business hours as well as on bank holidays. They do not have to wait for the bank to open and are free to transfer funds 24×7.

The transaction limit for IMPS through ICICI have been given here:

IMPS Transaction Type	Transaction Limit
iMobile
Account Number + IFSC	Minimum – Rs. 1	Maximum – Rs. 5 lakh
Mobile Number + MMID	Minimum – Rs. 1	Maximum – Rs. 10,000
Internet Banking
Account Number + IFSC	Minimum – Rs. 1	Maximum – Rs. 5 lakh
Mobile Number + MMID	Minimum – Rs. 1	Maximum – Rs. 10,000
CIB, InstaBIZ & API Banking RTGS
Account Number + IFSC	Minimum – Rs. 1

Customers can initiate the transaction at any time using their mobile phones or internet even on Sundays or other bank holidays. The transaction amount along with IMPS charges are debited from the sender’s account instantly and transferred to the beneficiary.

Each bank charges a small amount in IMPS transactions based on the amount. The IMPS charges for ICICI Bank have been listed here:

Transfer Amount	IMPS Charges per Transaction (excluding GST)
Up to Rs. 10,000	Rs. 3.5 + Applicable GST
Above Rs. 10,000 and upto Rs. 1,00,000	Rs. 5 + Applicable GST
Above Rs. 1,00,000 and upto Rs. 2,00,000	Rs. 15 + Applicable GST
Above Rs. 2,00,000 and upto Rs. 5,00,000	Rs.15 + Applicable GST
Above Rs. 5,00,000 and upto Rs. 10,00,000	Not applicable

The customers must have sufficient funds to transfer the amount, including the IMPS charges for ICICI Bank, they have chosen for a transaction. In the case of insufficient balance, the transaction fails.

The customers must have sufficient funds to transfer the amount, including the IMPS charges for ICICI Bank, they have chosen for a transaction. In the case of insufficient balance, the transaction fails.

ICICI Bank account holders can use the SMS, iMobile, or ICICI Bank website to transfer funds using IMPS. It is important to note here that the customers need to have registered for mobile banking or net banking to use IMPS from ICICI bank. The IMPS Charges for ICICI Bank will be based on the fees provided in the IMPS Charges ICICI section above. 

ICICI Bank customers can choose to send money to a beneficiary by sending it to their account in ICICI Bank or another bank or mobile number.

Here are the steps to follow to transfer funds from your ICICI Bank account using IMPS:

Step 1: Login to the ICICI Bank website (www.icicibank.com)

Step 2: Select the “Payments and Transfer” option

Step 3: Choose the “Transfer to Other ICICI Bank account across India”

Step 4: Next, select the IMPS-IFSC and payee from a list of registered payees

Step 5: Enter the amount you want to transfer

Step 6: Click to “Submit”

Step 7: Enter your ATM/Debit card details

Step 8: Enter the One-Time Password (OTP) received on your registered mobile number

Step 9: Click on “Submit” to complete the transaction

You will also receive an SMS informing you about the status of the transaction. To make the payment using Mobile Number and MMID, choose the “IMPS using Mobile Number and MMID” option in Step 4. You need your 7-digit MMID (Mobile Money Identifier) to transfer funds using the IMPS Mobile Number and MMID payment option.

You can easily generate MMID on your mobile phone. Follow the steps listed here:

• Open iMobile and select your bank account
• Choose the “Funds Transfer (IMPS)” option
• Select the “Generate MMID” option
• It will display your MMID on the screen

You can also generate MMID using your registered mobile number to send an SMS to 9222208888 in the format: MMID [space] XXXX (where XXXX represent the last 4 digits of your ICICI Bank account number). You will receive an SMS with your 7-digit MMID.

ICICI Bank allows IMPS using IFS Code to the banks listed here:

Andhra Bank	Jammu & Kashmir Bank
Axis Bank	Janata Sahakari Bank
Bank of Baroda	Karur Vysya Bank
Bank of India	Kotak Mahindra Bank
Bassein Catholic Co-op Bank	Mehsana Urban Co-op Bank
BNP Paribas	Nainital Bank
Canara Bank	NKGSB Bank
Central Bank of India	Oriental Bank of Commerce
Citibank	Punjab and Maharashtra Co-operative Bank
Corporation Bank	Punjab National Bank
Cosmos Co-operative Bank	Saraswat Bank
DBS Bank	South Indian Bank
Dena Bank	State Bank of India
Development Credit Bank	Syndicate Bank
Dombivli Nagari Sahakari Bank	Tamilnad Mercantile Bank
Federal Bank	The A P Mahesh Co-op. Urban Bank
Greater Bombay Bank	The Thane Janata Sahakari Bank
HDFC Bank	UCO Bank
HSBC Bank	Union Bank of India
IDBI Bank	United Bank of India
Indian Bank	Vijaya Bank
IndusInd Bank	Yes Bank
ING Vysya Bank

ICICI Bank allows IMPS Funds Transfer Services to the banks listed here:

Allahabad Bank	ING Vysya Bank
Andhra Bank	Jammu & Kashmir Bank
Axis Bank	Janata Sahakari Bank
Bank of Baroda	Karnataka Bank
Bank of Maharashtra	Karur Vysya Bank
Bank of India	Kotak Mahindra Bank
BNP Paribas	Lakshmi Vilas Bank
Bassein Catholic Co-op Bank	Oriental Bank of Commerce
Canara Bank	Punjab and Maharashtra Co-operative Bank
Catholic Syrian Bank	Punjab National Bank
Central Bank of India	Saraswat Bank
Citibank	South Indian Bank
Corporation Bank	Standard Chartered Bank
Dena Bank	State Bank of India
Development Credit Bank	Syndicate Bank
Dhanlaxmi Bank	Tamilnad Mercantile Bank
Dombivli Nagari Sahakari Bank	The AP Mahesh Co-op. Urban Bank
Federal Bank	The Greater Bombay Co-operative Bank
HDFC Bank	The Thane Janata Sahakari Bank
HSBC Bank	UCO Bank
IDBI Bank	Union Bank of India
Indian Bank	United Bank of India
Indian Overseas Bank	Vijaya Bank
IndusInd Bank	Yes Bank

IMPS is one of the easiest ways to be a part of the digitisation drive initiated by the Government of India. And the biggest benefit of using the Immediate Mobile Payment Service (IMPS) is that you can instantly transfer money even after business hours or on bank holidays. IMPS Charges in ICICI are quite nominal and customers are not subjected to any huge fees. For more information on fees, please check the IMPS Charges ICICI section above.