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Immediate Payment Service - lightning speed fund transfer through mobile phones.

Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service through mobile phones in India. KGB Customers can do IMPS transactions through our Mobile banking application - KGB mPay

Overview Features & Benefits Types of IMPS & How it Works? What is MMID in IMPS? Transaction Limit & Timing Rates & Charges FAQ

Overview

  • IMPS offers an inter-bank electronic fund transfer service through mobile phones. Unlike NEFT and RTGS, the service is available 24/7 throughout the year including bank holidays. Customers can transfer and receive funds via IMPS through Mobile Banking using their registered Mobile number and Mobile Money Identifier (MMID) or using their Account number and IFSC code.
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Features & Benefits

  • IMPS services is available 24/7 throughout the year including bank holidays.
  • The funds will be credited into the beneficiary account immediately.
  • The remitting bank sends a confirmation message to the remitting customer about the transaction initiated by him / her.
  • On receiving the amount, the beneficiary bank sends a confirmation message to the beneficiary customer informing him / her of the credit in the account.
Quick Enquiry

Types of IMPS & How it Works?

  • IMPS fund Transfer can be of two types: IMPS remittance from Person to Person and IMPS remittance from Person to Account
  • Details required for IMPS remittance from Person to Person:
  • Beneficiary Name
  • Beneficiary MMID
  • Beneficiary Mobile Number
  • Details required for IMPS remittance from Person to Account
  • Beneficiary Name
  • Beneficiary Account Number
  • Beneficiary IFS Code
  • For transferring funds using IMPS users can opt any of the above methods.
Quick Enquiry

What is MMID in IMPS?

  • MMID stands for Mobile Money Identification Number
  • It is a seven digit number of which the first four digits are the unique identification number of the bank offering IMPS.
Quick Enquiry

Transaction Limit & Timing

  • Inward and Outward IMPS transactions are available 24X7.
  • There are no holiday restrictions on IMPS outward and inward transactions.
  • Outward IMPS transactions are allowed upto an amount of Rs.50,000/- per day with per transaction limit of Rs.50,000/-
  • Monthly limit of IMPS is 5 Lakhs
Quick Enquiry

Rates & Charges

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FAQ

  • Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service available 24x7, throughout the year including Sundays and any bank holiday. Customers can transfer and receive funds via IMPS using their registered Mobile number and Mobile Money Identifier (MMID) or Account number and IFSC code.
  • Yes, the customer needs to have a bank account with the bank which is enabled with this facility.
  • Mobile Money Identifier (MMID) is a seven digit random number issued by the bank for every mobile banking registered customers. Both the Remitter (customer who wants to send money) and Beneficiary (customer/merchant who wants to receive the money) should have this number for doing IMPS transactions using Mobile number and MMID.
  • IMPS services is available 24/7 throughout the year including bank holidays.
  • Currently KGB does not charge its customers for IMPS transactions.
  • The funds are credited to the beneficiary immediately.
  • Yes, the customer should have sufficient account balance to initiate a fund transfer.
  • The remitting bank sends a confirmation message to the remitting customer about the transaction initiated by him / her.
  • The beneficiary bank sends a confirmation message to the beneficiary customer informing him / her of the credit in the account.
  • Yes. Customer needs to register for Mobile Banking for remitting funds through IMPS using Mobile Number and MMID.
  • The beneficiary should have his mobile number registered with the bank where he/she maintains the account.The beneficiary should also have a valid MMID provided by the bank if he/she intends to receive funds through IMPS using Mobile number and MMID.
  • At the time of mobile banking registration, customer can set his/her MPIN (Mobile Personal Identification Number) for accessing the mobile banking facility. An IMPS remittance will not be possible without a MPIN.
  • 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 will get reversed instantly.
  • Customers should take extreme care in providing the account number of the beneficiary. In the case of IMPS transactions, the credit will be given to the customer’s account solely based on account number provided.
  • 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.
  • It is an instant real-time inter-bank electronic funds transfer system in India. IMPS offers an inter-bank electronic fund transfer service through mobile phones. Unlike NEFT and RTGS, the service is available 24/7 throughout the year including bank holidays. Customers can transfer and receive funds via IMPS throughMobile Banking using their registered Mobile number and Mobile Money Identifier (MMID) or using their Account number and IFSC code.
Quick Enquiry
  • IMPS services is available 24/7 throughout the year including bank holidays.
  • The funds will be credited into the beneficiary account immediately.
  • The remitting bank sends a confirmation message to the remitting customer about the transaction initiated by him / her.
  • On receiving the amount, the beneficiary bank sends a confirmation message to the beneficiary customer informing him / her of the credit in the account.
Quick Enquiry
  • IMPS fund Transfer can be of two types: IMPS remittance from Person to Person and IMPS remittance from Person to Account
  • Details required for IMPS remittance from Person to Person:
  • Beneficiary Name
  • Beneficiary MMID
  • Beneficiary Mobile Number
  • Details required for IMPS remittance from Person to Account
  • Beneficiary Name
  • Beneficiary Account Number
  • Beneficiary IFS Code
  • For transferring funds using IMPS users can opt any of the above methods.
Quick Enquiry
  • MMID stands for Mobile Money Identification Number
  • It is a seven digit number of which the first four digits are the unique identification number of the bank offering IMPS.
Quick Enquiry
  • Inward and Outward IMPS transactions are available 24X7.
  • There are no holiday restrictions on IMPS outward and inward transactions.
  • Outward IMPS transactions are allowed upto an amount of Rs.50,000/- per day with per transaction limit of Rs.50,000/-
  • Monthly limit of IMPS is 5 Lakhs
Quick Enquiry
Quick Enquiry
  • Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service available 24x7, throughout the year including Sundays and any bank holiday. Customers can transfer and receive funds via IMPS using their registered Mobile number and Mobile Money Identifier (MMID) or Account number and IFSC code.
  • Yes, the customer needs to have a bank account with the bank which is enabled with this facility.
  • Mobile Money Identifier (MMID) is a seven digit random number issued by the bank for every mobile banking registered customers. Both the Remitter (customer who wants to send money) and Beneficiary (customer/merchant who wants to receive the money) should have this number for doing IMPS transactions using Mobile number and MMID.
  • IMPS services is available 24/7 throughout the year including bank holidays.
  • Currently KGB does not charge its customers for IMPS transactions.
  • The funds are credited to the beneficiary immediately.
  • Yes, the customer should have sufficient account balance to initiate a fund transfer.
  • The remitting bank sends a confirmation message to the remitting customer about the transaction initiated by him / her.
  • The beneficiary bank sends a confirmation message to the beneficiary customer informing him / her of the credit in the account.
  • Yes. Customer needs to register for Mobile Banking for remitting funds through IMPS using Mobile Number and MMID.
  • The beneficiary should have his mobile number registered with the bank where he/she maintains the account.The beneficiary should also have a valid MMID provided by the bank if he/she intends to receive funds through IMPS using Mobile number and MMID.
  • At the time of mobile banking registration, customer can set his/her MPIN (Mobile Personal Identification Number) for accessing the mobile banking facility. An IMPS remittance will not be possible without a MPIN.
  • 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 will get reversed instantly.
  • Customers should take extreme care in providing the account number of the beneficiary. In the case of IMPS transactions, the credit will be given to the customer’s account solely based on account number provided.
  • 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.

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