What is IMPS (Immediate Payment Service)? – Charges, Payment | List Of Banks Offering IMPS

The Immediate Payments Service Transfer is the Indian inter-bank money transfer system, which is commonly known for the IMPS. The majority of the banks now provide the facility of the IMPS. Any bank holder can avail of this facility easily with their smartphone or laptop/computer via Internet banking. The Immediate Payments Service Transfer facility is available for 24*7 and 365 days. The main and attractive feature of this service is that you can also use this in bank holidays.

The National Payments Corporation of India (NPCI) has launched the IMPS (Immediate Payment Service) in the year 2010 on 22 November. Usually, banks will not charge any charges for the IMPS services. But there are very genuine charges for the big transactions as per the rules. The charges details have been stated below if you want to know that your bank is providing the said services or not then you can check the list of banks offering IMPS from the provided table.

Moreover, you can also register for the said services very easily the details and the steps for the IMPS registration have been given on this article you can check it easily by going through it.

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Immediate Payment Service - Wikipedia


IMPS Features And Benefits

  • Simple to use and a very secure system
  • No charges for the small transactions
  • It is available for 24*7, 365 days, even in bank holidays.
  • Money can be transfer within a second.
  • No need to visit the bank branch
  • You can use this facility from anywhere by just having an internet connection, smartphone/laptop.

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IMPS Registration- Steps

  • Ask the bank to activate your mobile/Internet banking facility in which you have an account.
  • Now, you are required to collect the Mobile banking Personal Identification Number (MPIN) and Mobile Money Identifier (MMID) from the respective bank.
  • Finally, you are required to install your bank application for mobile banking, or you also have the option to use the IMPS service by using the SMS, IMPS service. 

RTGS (Real Time Gross Settlement)

How to send Money with IMPS? – Check Process
  • Open the mobile banking application or internet banking.
  • After that select, the IMPS option form there, and you can also use the same by using the SMS number with the registered with the bank.
  • Now ask the beneficiary to give his/her mobile number and MMID.
  • Thereafter you have to enter the beneficiary MMID and the amount you want to transfer.
  • At last, enter the MPIN in the given box.
  • Lastly, the transaction will be complete, and the beneficiary will receive the money.
  • You will receive the confirmation message for the transaction, copy the transaction reference number, and keep it safe with you only.

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List Of Banks Offering IMPS

Airtel Payments Bank Apna Cooperative BankBank of MaharashtraCorporation BankSahakari Bank
Allahabad BankBassein Catholic Co-op BankCosmos Co-operative BankFederal Bank
Andhra BankBNP ParibasDena BankHDFC Bank
Axis BankCanara BankDevelopment Bank of SingaporeHSBC
Adarsh Co-Operative BankCatholic Syrian BankDevelopment Credit BankICICI Bank
Bandhan BankCentral Bank of IndiaDhanalakshmi BankIDBI Bank
Bank of BarodaCitibankUnion Bank of IndiaIDFC Bank
Bank of IndiaCity Union BankDombivli NagarikIndian Bank
Indian Overseas BankLakshmi Vilas BankThe A.P Mahesh Urban Co-op BankState Bank of Hyderabad
ING Vysya BankMehsana Urban Co-operative BankPunjab and Sind BankState Bank of India
Jammu & Kashmir BankNainital BankPunjab National BankState Bank of Mysore
Janata Sahakari Bank, PuneNKGSB Co-operative BankRajkot Nagrik Sahkari Bank LtdState Bank of Patiala
Karnataka BankOriental Bank of CommerceRBL BankState Bank of Travancore
Karur Vysya BankPaytm Payments BankSaraswat BankSyndicate Bank
Kerala Gramin BankPragathi Krishna Gramin BankSouth Indian BankTamilnad Mercantile Bank
Kotak Mahindra BankPunjab and Maharashtra Co-op BankStandard Chartered BankThane Janata Sahakari Bank
The Greater Bombay Co-op BankUnion Bank of MandyaVijaya Bank
UCO BankUnited Bank of IndiaYes Bank

List of Public and Private Sector Banks in India

Charges For IMPS 

Amount Bank< Rs.10,000< Rs.1 lakh< Rs.2 lakh
ICICI BankRs.5 + GSTRs.5 + GSTRs.15 + GST
Citi BankNilNilNil
SBIRs.1 + GSTRs.2 + GSTRs.3 + GST
Yes BankRs.5Rs.5Rs.5
HDFC BankRs.5Rs.5Rs.10
Axis BankRs.5Rs.5Rs.15
Axis BankRs.5Rs.15Rs.15
IndusInd BankRs.5Rs.15Rs.25

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IMPS Charges For Andhra Bank

Amount of TransactionCharges
Rupees 1 – Rupees 2500Zero
More than Rupees 2500 – Rupees 10,000Rupees 2.50 + Tax
More than Rupees 10,000 – Rupees 1 LakhRupees 5 + Tax
More than Rupees 1 LakhRupees 10 + Tax

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