IMPS stands for Immediate Payment service. IMPS is one of the best fund transfer mode used by all the bank branches in India. In this mode we can transfer money to both inter and intra bank secure and fast. Beneficiary account can be created immediately in IMPS mode when money transfer request has send.
Service charges to transfer money transfer in IMPS is similar to NEFT fund transfer. This mode of fund transfer is available in 24*7 throughout the year even in Bank holidays. You can access IMPS anytime and anywhere. For all mode of transactions IFSC Codes are important. You can Find bank by IFSC code for all branches.
There are few steps that involves to transfer money through IMPS. Let us discuss detaily.
How to Transfer Money using an IMPS?
- Step 1: Login to your bank internet banking account with appropriate username and password.
- Step 2: Select Payment and transfer.
- Step 3: Select intra bank money transfer options.
- Step 4: Click IMPS and Payee from the list.
- Step 5: Enter the transaction amount, purpose of transaction and details
- Step 6: Then Click Next.
- Step 7: You will receive an OTP on the registered mobile number and enter it to complete the transactions.
- Step 8: Display screen shows that the transaction get completed.
- Step 9: You will also receive SMS regarding fund transactions.
Before adding beneficiary check the payee bank account IFSC code. You can Find IFSC code for all the banks and their branches from indianbankdetails.com