IMPS

Overview

IMPS is an instant electronic fund transfer service provided through the NPCI payment ecosystem. It enables customers to transfer funds between participating bank accounts through supported banking channels. IMPS provides customers with a convenient and efficient mechanism for transferring funds electronically. Our Bank, PyGB is one of the participants in this system introduced by NPCI.

Objectives/Benefits

To build the foundation for a full range of mobile based Banking services.

Features & Benefits

Customers can transfer money from one account to another accounts in different banks.

Funds will be transferred instantly.

Eligibility

Customers of PyGB can send/receive payments under IMPS Scheme to/from any destination Bank/Branch which is registered with NPCI’s IMPS System.

Essential Details Required

The Account Number to be debited

Amount to be remitted

Beneficiary Bank and Branch Name

Beneficiary IFSC Code

Beneficiary Name

Beneficiary Account number

Beneficiary Mobile Number

Sender to Receiver information, if any

Important Considerations

Originating and destination bank branches are part of the IMPS network.

Beneficiary details such as Beneficiary Name, Account Number, Mobile Number and Account type, Name and IFSC of the Beneficiary Bank branch should be available with the remitter.

Extreme care should be exercised in providing the account number of the beneficiary, as, during processing IMPS transactions, the credit will be given to the customer’s account solely based on the Account Number provided in the IMPS remittance instruction / message.

Amount of Remittance

At Branches:

Upto 5,00,000/- per transaction

Upto 5,00,000/- per day