What is MMID in SBI?

Updated: 08-12-2023 10:34:36 AM

Technological advancements have eased our life to a great extent. Nowadays, you can pay your utility bills, do shopping, buy grocery products, or send money, etc. with just click of a button, while at home or away. These technological advancements have also been incorporated in various business sectors and one of the major sectors that has hugely benefitted from this is the banking sector. Today, banking sector is witnessing a huge technological evolution and this has proved to be beneficial for its customers. It has eased out and streamlined the process of performing financial transactions. Amongst all the recent technological innovations, mobile banking has been considered the most vital of all that the banking system has observed.

Introduction of mobile banking has transformed banking sector in a positive way. Almost everyone now-a-days own and use a smartphone, so doing any financial transaction has become convenient and handy with your smartphone. You can now even send and receive money instantaneously through your smartphone using IMPS service.

What is IMPS?

IMPS (Immediate Payment Service) is an instant money transfer service. IMPS is a service under which an instant interbank money transfer feature can be accessed using one’s smartphone, tab, laptop or PC. Now for using IMPS through your mobile there are certain pre-requisites. Firstly, you need to be a registered mobile banking customer of the respective bank. For this, kindly register your mobile number with bank and get your 7-digits Money Identification Number (MMID) number. In order to receive money you need to share your mobile number and 7-digit MMID number with the remitter.

The benefits of carrying out financial transaction using IMPS are as under:

• Unlike internet banking under IMPS you need not add any beneficiary or payee.
• The transfer of money is carried out instantlyas the transaction happens in realtime.
• Minimal charges as compared to NEFT or RTGS.
• Sending money is possible only for registered mobile banking customers,however any customer can receive the money.

Currently, there are 243 financial institutions live on IMPS. Out of these SBI – the largest bank in India is successfully providing the IMPS through mobile service to its customers. Before getting into the details of how MMID works at SBI, let us first understand what exactly is MMID?

What is MMID number?

MMID (Mobile Money Identification number) is a 7-digit number, where the first 4 digits are unique identification number representing the bank offering the IMPS service. MMID is the number that is used in receiving money through IMPS.

Why there is a need for MMID number?

MMID is a unique number synced with your account. So when you receive money through IMPS transaction your account is identified with the help of MMID number for crediting the amount. When you have multiple accounts, the mobile number for all the accounts is same but MMID number for the accounts is different so for receiving money in a particular account, MMID number is important.

How MMID works at SBI?

MMID number is associated with receiving funds through IMPS. State Bank of India will allot a unique MMID number to you when you register your account number and mobile number with the bank for receiving funds through IMPS. Kindly note if you hold multiple accounts in State Bank of India then the bank will offer unique MMID number for each account. So, when you have to receive money in a particular account, share your mobile number and the MMID number associated with the account in which you wish to receive money from the remitter. Hence, you will receive money instantaneously in your account through IMPS.

How to get MMID number at SBI?

Generally, State Bank of India offers the MMID number to its customers who have registered themselves for the mobile banking services. But if you have not received it or want to have all the MMID numbers for your multiple accounts then there are also five simple ways through which you can obtain your MMID number, they are as follows:

1. Get the MMID number from your branch: You just have to visitany SBI branch, fill an application form and you can obtain your MMID number.
2. Getthe MMID number through SMS Service: You can get your MMID number by sending an SMS –

              a.  For getting MMID number of all your bank accounts type MMID SBIand send it to 223440000 from                     your registered mobile number.

              b.  For getting MMID number of your particular bank account type MMID SBI <Account Number>and                     send it to 9223440000 from your registered mobile number.

1. Get your MMID number through SBI ATM:You can also get your MMID number through SBI ATM. For customers who have not availed the mobile banking service can walk into any SBI ATM and follow the steps given below to get your MMID number:

                   a. Swipe your SBI ATM card in the ATM machine

                   b. Press Mobile Banking option

                   c. Enter your ATM pin

                   d. Select SMS/ Secure Code / IMPS from the options

                   e. Enter your mobile number and Confirm

1. Get MMID number by calling the customer care:SBI customers can call the customer care toll free number-> select mobile banking option-> connect with customer service officer-> give them your mobile number-> validate certain particulars-> After successful validation MMID number will be sent to you by SMS.
2. You can also generate your MMID number through SBI Mobile App: On the main screen of your mobile phone click on IMPS option -> click on generate MMID option to get your MMID number.

Thus, above are various ways through which you can get your MMID number.