HDFC Immediate Payment Service
The Immediate Payment Service (IMPS) is available to all HDFC customers on a 24/7 basis. IMPS allows customers to make instant, real-time transfers through various channels such as mobile or internet banking. An HDFC Bank customer can send and receive money to anyone with an IMPS-enabled bank account and also to HDFC bank customers. IMPS is an electronic fund transfer system that has been launched by the National Payments Corporation of India (NPCI).
Benefits of HDFC IMPS
- Real-time transfers: IMPS transactions are carried out on a real time basis and hence funds sent through this mode will always reach the payee instantly. Unlike other types of fund transfer methods, such as NEFT, etc., there is no batchwise settlement of transactions.
- Available 365 days a year: IMPS facility can be used on all days of the year and even on bank holidays. The service is can be used at anytime and this gives customers the ease and convenience of initiating fund transfers from anywhere and at any time.
- Multiple channels: One of the main advantages of IMPS transfers is that it can be initiated through multiple channels such as internet banking, mobile banking and funds can also be sent through an ATM facility.
- SMS-based verification: This is a safe and reliable service and all customers will receive mobile-based verification for all transactions that are carried out using IMPS.
Charges of HDFC IMPS
Transaction amount | Charges |
Rs.1 to Rs. 1 lakh | Rs.5 |
Above Rs.1 lakh to Rs.2 lakh | Rs.15 |
*Please note that these charges are excluding taxes.
How to Register for HDFC IMPS
HDFC IMPS services will be available to all existing customers. Users who have an active internet banking password and username can avail this service.
Transfer Money Using HDFC IMPS through Net Banking with IFSC
Step 1: Log into the HDFC website by providing username and password
Step 2: Click on 'Funds and Transfer'
Step 3: Tap the 'IMPS Transfer' option
Step 4: Proceed by filling in relevant details such as account number, IFSC Code, transaction amount, etc.
Step 5: Verify and confirm all details
Step 6: A confirmation message will be sent after the transaction has been successfully processed
Transfer Money Using HDFC IMPS through Mobile Banking with IFSC
Step 1: Log into the HDFC mobile banking
Step 2: Choose the 'Funds and Transfer' option
Step 3: Tap the 'Other Bank using IMPS ' tab. Choose the IFSC option.
Step 4: Proceed by filling in relevant details such as account number, IFSC code, transaction amount, etc.
Step 5: Verify and confirm all details
Step 6: A confirmation message will be sent after the transaction has been successfully processed
Transfer Money via HDFC IMPS using MMID (Net Banking)
Step 1: Log into the HDFC portal by providing username and password
Step 2: Choose the 'Funds Transfer' option
Step 3: Tap 'IMPS Funds Transfer' using cell phone number
Step 4: Fill in all required details
Step 5: Verify and submit.
Transfer Money via HDFC IMPS using MMID (Mobile Banking)
Step 1: Log into the HDFC mobile banking app
Step 2: Choose the 'Funds Transfer' option
Step 3: Tap 'Other Bank using IMPS'
Step 4: Tap the 'Using IMPS' option
Step 5: Fill in payee/beneficiary details such as mobile number, MMID, amount, and remarks, if any
Step 6: A transaction confirmation SMS will be received
How to get an MMID for HDFC IMPS through Net Banking
- Login to HDFC net banking
- Under the 'Request' section, go to the left menu and tap 'Generate MMID'
- Fill in details, verify and confirm
- MMID will be created
Check IFSC Code for Top Banks:
How to get an MMID for HDFC IMPS through Mobile Banking
- Login to HDFC mobile banking through the app or browser
- Go to the accounts option and tap 'Generate MMID'
- MMID will be created
How to get an MMID for HDFC IMPS by Calling Phone Banking
- Call the customer care number in your respective city
- Select the language option
- Tap 1 for banking related queries
- Select 6. Talk to a customer care representative and register for IMPS and MMID creation
- The request will be processed in 24 hours and the MMID will be sent to the customer's mobile number
How to receive Money Using HDFC IMPS
- Option 1: Through Net Banking using IFSC
Share account details such as name, bank account number, bank branch and IFSC code
- Option 2: Using mobile number and MMID
Share mobile number and MMID
How to add beneficiary/payee for HDFC IMPS
Step 1: Log into the HDFC portal
Step 2: Under the third-party transfer, tap the 'Add a Beneficiary' option
Step 3: Choose the type of beneficiary
Step 4: Enter payee name as in the account, account number, IFSC code, bank name and branch
Step 5: Verify details and confirm
Step 6: Enter OPT and confirm
Limitations of HDFC IMPS
- Charges applicable: Unfortunately, when it comes to IMPS, there is a service charge that is levied. Unlike UPI transactions, where there is generally no fee levied. There is a transaction fee per IMPS fund transfer.
- Beneficiary activation: It is a time consuming process to activate a beneficiary/payee. Generally, there is a 30 minute waiting period for a beneficiary to be activated. It is also a must to add a beneficiary and IMPS transfers cannot be initiated without this.
Timings for HDFC IMPS
HDFC Bank IMPS services can be initiated at any time and there are no time restrictions for the same. Fund transfers can be made even on bank holidays and weekends.
Use Cases of HDFC IMPS
IMPS can be used to send or receive money and also for merchant payments such as
- Paying credit card bills
- Mobile recharge
- Online shopping
- Travel and ticketing
- Grocery bills
- National Unified USSD Platform
Other IFSC Related Article
Other IMPS Related Article
FAQs on HDFC IMPS
- How can a customer activate IMPS services?
To initiate a fund transfer through mobile banking, a customer will have to do Mobile Banking Registration. Mobile registration is not a must if the user wants to send funds through internet banking, ATMs or by visiting the branch.
- Is it possible for a customer to link more than one bank account into his/her mobile number?
Yes. But each account will have a separate MMID.
- What is MMID? How does an MMID get allocated to a customer?
Abbreviated as MMID, Mobile Money Identification Number is a secret code that is used for IMPS transfers. It will be allocated once the customer registers his/her registered mobile number.
- Can IMPS transfers be made without adding a beneficiary?
No.
- What are the timings for beneficiary/payee activation?
Please note that beneficiaries/payees can be added usually during the working hours of the bank and it will take around 4 hours for the payee to be approved and activated. Once this is done fund transfers can be initiated.
- In cases where the transaction has not been completed or has failed, what will happen to the funds?
Generally, in such cases, the money will be automatically credited within 2 working days. However, in case the funds are not credited, please call a customer care executive and furnish required details such as transaction reference number, date of transaction, payee and remitter bank names.
- Can IMPS transfers be made by providing a mobile number that is not registered with the bank?
No. If a customer wants to use a certain number for IMPS, he/she has to approach the bank and make a request for the same.
- What will happen if a customer enters a wrong mobile number during MMID transfer?
The funds will not be credited without a valid mobile number.
- How will a payee know if the funds have been credited?
An SMS will be sent to the payee, containing information about the crediting of funds.
- What is the subscription charge for this service?
SBI does not levy any type of subscription charge as of now.
- If an IMPS transaction is declined, will the funds be credited back to the remitter's account?
In such cases, the funds will be transferred automatically as soon as possible into the remitter's account.
- How will a remitter know if the funds have been debited from his/her account?
The customer will receive an SMS in this regard as soon as the IMPS transfer has been initiated.
- Can a fund transfer be initiated without sufficient balance?
No.
- What if a customer changes his/her mobile number, is it required to register again?
Yes. The mobile number has to be updated.
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