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Immediate Payment Service - Frequently Asked Questions

  1. What is IMPS?

    Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service through mobile phones. It is also being extended through other channels such as ATM, Internet Banking, etc.

  2. What is MMID?

    Mobile Money Identification Number (MMID) is a seven digit number of which the first four digits are the unique identification number of the bank offering IMPS.

  3. Is IMPS facility through OnlineSBI available to all customers?

    The facility is available to all registered users of OnlineSBI having transaction rights on one or more accounts.

  4. How I can remit money using IMPS through OnlineSBI?

    a. Log on to ''

    b. Visit 'Profile' section and click on Manage Beneficiary.

    c. Select 'IMPS Beneficiary'

    d. Add details for the beneficiary

    e. Approve the beneficiary using OTP (one time password) received on your registered mobile number.

  5. What beneficiary details the customer requires to effect an IMPS remittance from Person to Person?

    Following beneficiary details are required :

    a. MMID of the beneficiary,

    b. Mobile number of the beneficiary

    c. Name of the beneficiary

  6. What beneficiary details the customer requires to effect an IMPS remittance from Person to Account?

    The beneficiary details required are:

    a. Name of the beneficiary

    b. Account Number of the beneficiary

    c. IFS Code of the beneficiary bank

    Please note that you have to add such beneficiary using Interbank Beneficiary option given in the Profile section.

  7. What are the restrictions for activation of a beneficiary added by a user?

    You can add and approve only one beneficiary in a calendar day, which will be activated by the internet banking system within 4 hours, if approved by you during the period from 6.00 AM to 8.00 PM (IST). Beneficiary approved after 8.00 PM will be activated on the next day after 8.00 AM (IST). You can commence funds transfer to the new beneficiary only after its activation. During the first 4 days after activation, you can transfer a total sum of Rs. 1,00,000/- to a new beneficiary if activated by the system.

  8. Is there any limit on the value of transactions in IMPS? Please give some examples.

    Ramu a user of internet banking with transaction rights, wishes to transfer money to Shyamu using IMPS

    Date Activity Amount Limitation
    Sep 1 Ramu added and activated Shyamu as IMPS beneficiary Rs. 1,00,000 can be transferred to Shyamu on the day of activation of the beneficiary.
    Sep 2 - 4 Shyamu in cooling period A total sum of Rs.1,00,000 can be transferred to Shyamu during the period from Sep 1 to Sep 4.
    Sep 6 Shyamu out of cooling period Every day of Rs. 2,00,000/- can be transferred to shaymu, provided the total amount transferred on any given day by Ramu through IMPS does not exceed Rs.2,00,000/-

  9. How can a user remit money using IMPS?

    a) Log on to ''.

    b) Visit Payment /Transfer section and click on IMPS fund transfer.

    c) Please select 'Person to Person' if the beneficiary has been added as IMPS Beneficiary or 'Person to Account' if the beneficiary has been added as Interbank Beneficiary.

    d) Input the amount a user wishes to remit.

    e) Approve the transaction using OTP (one time password) received on your registered mobile number.

  10. What happens in case the remitter enters wrong beneficiary details for remittance?

    If the beneficiary details required for making a remittance (such as MMID, mobile number) are wrong, there is a very high possibility of the transaction getting rejected. If you are remitting money using account number, please check the account number as amount will be credited on the basis of account number only.

  11. What are the timings for initiating and receiving IMPS remittances?

    IMPS Inward and Outward transactions are available 24X7. There are no holiday restrictions on IMPS outward and inward transactions. IMPS outward transactions are allowed to transfer collective of Rs. 2,00,000/- per day.

  12. If the transaction is not completed, will the customer get his / her money back? When?

    Yes. In case the IMPS transaction is not completed for any reason - technical or business, the reversal of the remitters funds will happen immediately. If such a transaction becomes a subject matter of reconciliation wherein the fate of transaction is not determined immediately, the reversal of funds will happen in seven days.

  13. What are the charges for the customer for sending and receiving remittances using IMPS?

    The charge for remitting money through IMPS using OnlineSBI is;

    Amount Charge
    Upto 1,00,000/- Rs.5/- per Transaction + Service Tax
    RS 1,00,000 to RS 2,00,000/- Rs.15/- per Transaction + Service Tax

  14. Are there any subscription charges for the customers to avail this facility?

    Currently, there is no subscription charge for the OnlineSBI users.

  15. How long does it take for the remittance to be credited into the beneficiary account number?

    The funds should be credited into the beneficiary account immediately.

  16. Is it necessary to have sufficient account balance to initiate a remittance?

    Yes, the customer should have sufficient account balance to initiate a fund transfer.

  17. How does the remitter come to know that his account is debited and funds have been credited in the beneficiary's account

    The remitting bank sends a confirmation message to the remitting customer about the transaction initiated by him / her.

  18. How does a beneficiary come to know of funds being credited to his / her banks account?

    The beneficiary bank sends a confirmation message to the beneficiary customer informing him / her of the credit in the account.

  19. Can a customer receive remittance using the mobile number other than the one registered with the bank?

    The customer can receive funds using the registered mobile number only. In case he / she need to receive funds using the other mobile number, he / she will have to approach the bank and complete the process of changing the registered mobile number for mobile banking.

  20. When can the beneficiary use the funds received through IMPS?

    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.