IMPS Through FedNet

IMPS (Immediate Mobile Payment System) is an instant 24x7 interbank electronic fund transfer service. Customers can use either Mobile Number and MMID OR Account number and IFS Code of the beneficiary to transfer funds using IMPS. It is simple, safe, secure and easy to use, which saves time and cost.
 

You can send funds through FedNet using IMPS in either of two ways:

Instant Fund transfer using MMID 

  • Log on to FedNet >> Transfer Funds >> IMPS Fund Transfer
  • Enter beneficiary mobile number, MMID and key in the amount you want to transfer.
  • Enter transaction password and confirm the transaction.
  • Remitter doesn't require registering for IMPS service. But valid mobile number should be updated in FedNet
  • Get Instant confirmation SMS

 

IMPS-Person to Account (P2A) using Account number and IFS Code

IMPS Person-to-Person (P2P) funds transfer requires the Beneficiary Mobile Number and MMID. There may be cases where the Beneficiary is not registered for mobile banking and here IMPS Person-to-Account (P2A) facility can be used. This facility that was hitherto available only through the Mobile Banking Channel is now enabled through FedNet. FedNet customers can now transfer funds through IMPS to any beneficiary account with their Account number and IFS Code. Unlike NEFT transfer, this is available 24 X 7, even on holidays.