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IMPS Through FedNet

IMPS Through FedNet

Now avail Immediate Payment Service via FedNetin which amount will be credited instantly to the beneficiary. IMPS mode of fund transfer is faster than NEFT/RTGS and ensures instant credit to other bank accounts.

  • Features & Benefits
  • How to Send Funds
  • How to Receive Funds

Key Features:

  • It is an instant 24x7 interbank electronic fund transfer service. 
  • Customers will also get confirmation SMS instantly
  • Customers can use either Mobile Number and MMID OR Account number and IFS Code of the beneficiary to transfer funds using IMPS.
  • Key in the beneficiary's Mobile Number and MMID OR Account number and IFS Code to do safe and instant transactions to any bank which is participating in this service.
  • Currently there are 60 banks and five pre-paid service providers as members of IMPS providing this service.
  • For Federal Bank customers, MMID will be ""9049"" + last 3 digits of the account number
  • Saves time and cost
  • Simple and easy to use
  • Safe and secure

Take a look at the member bank's IMPS page, provided at the National Payments Corporation of India website. For further details, write to us at contact@federalbank.co.in or get in touch with ourContact Center.

You can send funds through IMPS in FedNet by 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. 

 
Features
  • Real-time instant credit  
  • Available 24 X 7 even on holidays
  • No service charges
  • Beneficiary need not be registered for Mobile Banking
  • Fund Transfer Limits- Daily limit of Rs.50,000/- and Monthly Limit of Rs.2,00,000/-*
*This is the combined IMPS fund transfer limit using P2A and P2P through FedNet.
 
Follow simple steps to do IMPS-Person to Account (P2A) using Account number and IFS Code fund transfer:
1. Login to FedNet and click on the Transfer Funds Tab
2. Click on the Add External Payee Tab for adding the Payee. Please follow the same procedure of adding Payees for RTGS/NEFT transactions. This is a onetime process and if you have already added the payee, you can skip this step.
3. Select the Make IMPS Payments tab and click on Continue with IMPS Payment
4. Select the Payee from the list of registered payees and enter the Payment amount and Remarks. Click on Pay for making IMPS P2A payment and complete the transaction using your Login ID and Transaction Password.
  • Link the mobile number with your account for IMPS beneficiary facility or register for mobile banking facility.
  • MMID will be generated and sent as SMS.
  • Share your MMID and mobile number with the remitter.
  • Get instant confirmation SMS