State Bank of India offered 5 Rs Cash back on Every Transaction performed through Mobile Banking and IMPS.
What is IMPS
IMPS is Simple Mobile payment. By the use of IMPS you can pay money to any one from any other bank or you can pay railway tickets.
IMPS Can be available on any day any time. 24 x 7 Service.
Payment are directly handled by NPCI and is credited to the receiver at the moment.
How to Transfer Money
IMPS is Simply the 7 Digit MMID Code.
If You have this MMID Code then You Have IMPS Service Enabled and You can transfer money any where any time.
Requirements for IMPS Transfer
To transfer Money through IMPS You need
- MMID of Your Account
- MMID of Receiver
- Your Mobile Banking User Id and Password
- Receiver Mobile Number
SBI MMID Money Transfer SMS Format
<IMPS><Mobile No><MMID><amount><User ID><MPIN><Purpose(optional field- up to 20 char-Alpha numeric)>
After Money transfer you and Receiver both get the SMS Notification.
IMPS Charges
Now IMPS is Totally Free Service in all available banks including SBI,ICICI,AXIS,FEDERAL,HDFC and all.
You can Generate MMID Code and start Using IMPS Now.
How Much Time it take to Transfer the Money and Recevie at the End
Its Instant Transfer. How ever due to heavy load it may take from 5 second to 1 minute maximum.
What is IMPS Code
IMPS code is Nothing but the MMID. A 7 Digit Unique Number to each and every Banker.
Who can Avail IMPS
All banking Users including Personal and corporate Bank users can avail IMPS Service.
IMPS Money Transaction Rights
Most of the Bank users will get Transaction right without any special application request to bank.
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