Customer’s FAQs on IMPS/MMID
1. What is IMPS?
Interbank Mobile Payment Service (IMPS) is an instant interbank electronic fund transfer service through mobile phones. IMPS facilitate customers to use mobile instruments as a channel for accessing their banks accounts and remitting funds therefrom.
2. Presently, how are interbank fund transfers made using mobile phone?
Various banks are providing remittance facility through their mobile banking platforms. The interbank remittance request initiated from a mobile is processed by the beneficiary bank as a National Electronic Fund Transfer (NEFT) transaction. The status of such payment request is therefore not known instantly because NEFT payments are processed in batches from 9 am to 7 pm. The NEFT transactions are charged by banks and charges vary from bank to bank.
3. Does the customer need to have a bank account for availing IMPS?
Yes, the customer needs to have a bank account with the bank.
4. Does the customer need to register to remit the funds through IMPS?
Yes. Customer should enroll for Mobile Banking Service with the bank where customer has an account.
For the registration process, the customer can download the application and duly filled application should be submitted at their branch.
5. Is the beneficiary customer also required to register for IMPS?
The beneficiary customer should have their mobile numbers registered with the bank where he/she maintain the account and where he intends to receive the credit and should have a valid MMID provided
by the bank.
6. What beneficiary details does the customer need to affect an IMPS remittance?
The beneficiary details required are:
a. Beneficiary’s mobile number
b. MMID of the beneficiary customer
7. What is MMID?
Mobile Money Identifier (MMID) is a seven digit random number issued by the bank upon registration.Remitter (customer who wants to send money) and Beneficiary (customer who wants to receive the money) should have this MMID for doing this interbank funds transfer.
8. Incase if the customer has more than one account linked to his / her mobile number how does he select the account from which he / she intends to pay?
The bank will allocate a Mobile Money Identifier (MMID) for each account of the mobile banking customers. The customer can select the account using this MMID allocated to him/her. The combination of mobile number and MMID helps as a mistake proofing step for the remitter and tries to mitigate the risk of wrong credit incase the remitter enters erroneous mobile number.
9. How to know the MMID of the registered account?
MMID will be automatically generated by the software when mobile banking user is created. Customer has to send the following SMS to 9870900876to get their MMID for the accounts which are registered.
Please type MMID and send message to 9870900876
10. Is there any limit on the value of transactions in IMPS?
The limit is defined by RBI in the Mobile Payment Guidelines issued to banks. The customer can transact on IMPS subject to a daily cap of 5,000/- overall for transactions done through SMS/IVR mobile for the funds transfer. The customer can transact on IMPS subject to a daily cap of 50,000/- overall for transactions done through downloaded application.
11. Does the customer require a mobile handset of a particular model or make or features to enable this service?
Yes. The list of mobile hand sets for which mobile application can be downloaded is kept in our website.
As and when you applications are ready for new models/handsets it will be added in the list.
For doing fund transfer through SMS/IVR mode, there are no restrictions on type of handset/make to be used.
12. What can a customer does in case he/she is not able to install the mobile banking application on his mobile handset? From where a customer can get help in downloading the application to his handset?
In case the customer is not able to install the mobile banking application on the mobile handset or the application is not functioning as desired, the customer may need to update the software on the mobile handset and re-install the mobile banking application on the same.
With the help of service provider, the bank has setup a helpdesk for helping our customer in downloading the mobile banking application to their handsets. The customer should contact the helpdesk at 022-67242626 extn. 21. The helpdesk services are available from Monday to Friday between 10 AM to 7 PM and on Saturday between 10 AM to 6 PM.
13. What is the procedure to be followed in case of Change of Handset, SIM, Mobile Stole?
In the case of change of Handset, the customer can re-download the mobile banking application by
sending the following SMS.
Please type CODE and send message to 9870900876 In the case of change of SIM, please contact your
branch and re-register New SIM number for mobile banking.
14. Can we withdraw and/or deposit money using IMPS?
Presently, the customers cannot withdraw and / or deposit money using IMPS.
15. What if IMPS registered mobile is lost or misplaced? Will anyone who comes into possession of
mobile be able to make a remittance from customer’s account?
At the time of mobile banking registration, bank would provide the customer with a User id and MPIN
(Mobile Personal Identification Number) for accessing the mobile banking facility. An IMPS remittance
will not be possible without these two inputs.
16. What happens in case the remitter enters a wrong beneficiary mobile number for remittance?
The beneficiary details required for making a remittance are mobile number and MMID. The transaction
will get declined in case anyone of these two numbers is erroneous and transaction gets reversed
instantly.
17. What are the timings for initiating and receiving IMPS remittances?
IMPS transactions can be sent and received at any time and any day. There are no timing or holiday
restrictions on IMPS remittances.
18. If the transaction is not completed will the customer get his/her money back? When?
Yes. In case for any reason, technical or business, the IMPS transaction is not completed the reversal of
the remitters funds will happen immediately. In case if such a transaction becomes a subject to
reconciliation wherein the status of transaction is not determined immediately, the reversal of funds will
happen on the next working day.
19. What are the charges for the customer for sending and receiving remittances using IMPS?
Currently there are no charges payable for using this facility. Any charges levied in future will be
published in our website.
20. Are there any subscription charges for the customers to avail this facility?
Currently there are no charges payable for using this facility. Any charges levied in future will be
published in our website.
21. How long does it take for the remittance to get credited into the beneficiary account number?
The funds should be credited into the beneficiary account within 30 seconds after initiated the
transaction.
22. Can the remitter transfer funds from his/her to the beneficiary account in other bank?
Yes, the remitting customer can transfer funds to the beneficiary account in other IMPS member banks.
23. Is it necessary to have sufficient account balance to initiate a remittance?
Yes, the customer should have sufficient account balance to initiate a fund transfer.
24. Is it necessary to have a minimum balance to receive funds through IMPS?
No minimum balance to be maintained to receive funds through IMPS. But the account should be
“active”.
25. How does the remitter come to know that his account is debited and funds have been credited in
the beneficiary’s account?
The remitting bank sends a confirmation SMS to the remitting customer about the transaction initiated
by him / her.
26. How does a beneficiary come to know of funds being credited to his / her banks account?
The beneficiary bank sends a confirmation SMS to the beneficiary customer informing him / her of the
credit in the account.
27. Can a customer remit and / or receive remittance using the mobile number other than the one
registered with the bank?
The customer can remit and / or receive funds using the registered mobile number only. In case he / she
need 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.
28. When can the beneficiary use the funds received through IMPS?
The beneficiary can use the funds immediately on receipt of credit in the account. The funds received
through IMPS are good funds and can be used immediately upon credit.
29. Are all banks offering IMPS?
The updated list of banks offering IMPS is available at http://www.npci.org.in/bankmember.aspx