Immediate Payment Service or IMPS offers an instant, 24X7 interbank electronic fund transfer service through mobile phones and other channels. IMPS facilitate customers for accessing their banks accounts and remitting funds there from.IMPS can also be used to transfer money to beneficiary accounts within TMB.
Customers can use below facilities to transfer their funds instantly:
> Using Mobile number & MMID (P2P)
> Using Account number & IFS Code (P2A)
> Using Aadhaar number (ABRS)
> Customer Initiated - P2M(Push)
> Merchant Initiated - P2M(Pull)
A common infrastructure has been set-up amongst participant banks, in association with the National payment Corporation of India (NPCI), to enable real time funds transfers across banks.
IFSC stands for Indian Financial System Code (IFSC). It is a 11digit alphanumeric code that uniquely identifies a bank-branch participating in electronic fund transfer system of India.
This is an 11-character code with the first 4 alphabetic characters representing the bank, and the last 6 characters (usually numeric, but can be alphabetic) representing the branch. The 5th character is 0 (zero).
The Beneficiary a/c details are matched with IFSC code of the branch to conduct the transaction.
MMID stands for Mobile Money Identifier. MMID is a 7 digit code issued by a participating bank to their Mobile Banking registered customers for availing IMPS service as a beneficiary. A customer will have different MMID's for different accounts and all these can be linked to a single mobile number.
To get the MMID for your account(s), goto IMPS in TMB mConnect application and click Generate MMID.
Customers have to enter the Aadhar Number in Beneficiary Aadhar No. Field. Account Number which is linked to Aadhar Number will be credited instantly. If there is no account number linked to Aadhaar Number, then Customer will be intimated that no Accounts are linked to this Aadhaar Number and amount will not be debited.
If you are a registered mobile banking customer of TMB Bank no more registrations are required.
The beneficiary details required are:
Beneficiary's bank account number
Beneficiary's Bank Branch's IFSC code (11 digit)
(OR)
Beneficiary's 10 digit mobile number
MMID of the beneficiary customer (7 digit)
(OR)
Beneficiary's Aadhaar Number
Yes, you need to at least have one of the Savings, Current or OD bank account.
The existing limits of Rs 50,000 per day using TMB M-Banking apply. This is subject to revision as per RBI guidelines.
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 gets reversed instantly. The customer shall have to ensure both the above two correctly while entering.
IMPS transactions can be sent and received at any time and any day(24*7) of the year. There are no timing or holiday restrictions on IMPS remittances.
Yes. In case, TMB Bank customer's account is debited and beneficiary account is not credited, then the funds will be re-credited back into the TMB Bank customer's account.
For transactions which are successful, funds gets credited into the beneficiary's account immediately.
Yes, you can transfer money from your TMB Bank account to a beneficiary who has an account within the IMPS participating banks.
For list of participating banks as on Feb 2013, please goto http://www.npci.org.in/bankmember.aspx
You will get a confirmation receipt on successful completion of the transaction. And also you will receive an sms regarding the debit/credit.
The security features of TMB M-Banking will apply in this case as well. For anybody to send money using IMPS, he needs to be registered Mobile Banking customer, have the Login Pin to access the TMB M-Banking application, and know the MPIN to authenticate the transactions. Therefor Customers are advised to maintain the 4 digit Login PIN and 4 digit MPIN in a secret and safe manner.