Need to transfer funds immediately from your HDFC Bank account? You may try IMPS mode of transfer. But before you do that, we suggest you check the HDFC Bank IMPS charges for a seamless process. Scroll further to know the charges of HDFC IMPS for online channels and at the branch, both.
HDFC IMPS Charges: Online
HDFC Bank does not charge its customers with IMPS charges when they use mobile banking or netbanking services to transfer funds.
Please Note: IMPS Fund Transfer Service is free for all Imperia & Preferred Customers, with effect from 15th March 2021. (Source: HDFC Bank website)
IMPS HDFC Charges: At the Bank
The below-mentioned are the HDFC IMPS charges when done at the bank:
- Up to Rs 1,000 – Rs 3.50
- Rs 1,001 to Rs 1 lakh – Rs 5
- Above Rs 1 lakh – Rs 15
Charges are per transaction; GST extra.
Important: With effect from 15th March 2021, IMPS Fund Transfer Service is free for all Imperia & Preferred Customers. (Source: HDFC Bank website)
What is IMPS?
IMPS full form is Immediate Payments System and it is an online mode of transferring funds directly from your bank account to someone else’s account. All transactions happening through IMPS are overlooked by the NPCI, which is further headed by the Reserve Bank of India.
How to use HDFC IMPS using Mobile Number & MMID?
To use IMPS in HDFC Bank, follow these steps:
Step 1: Register for HDFC mobile banking: To use IMPS, you need to register for mobile banking with HDFC Bank. You can do this by visiting an HDFC Bank branch or by downloading the HDFC Bank Mobile Banking app.
Step 2: Link your bank account: Once you have registered for mobile banking, you need to link your HDFC Bank account to your mobile number. This can be done by following the instructions on the mobile banking app.
step 3: Generate MPIN: To use IMPS, you need to generate a Mobile Personal Identification Number (MPIN). This can be done through the mobile banking app or by visiting an HDFC Bank ATM.
Step 4: Initiate the transfer: To initiate a transfer using IMPS, you need to log in to the HDFC Bank mobile banking, select the IMPS option, enter the beneficiary’s account details, and enter the amount you wish to transfer. You will be prompted to enter your MPIN to complete the transaction.
Step 5: Verify the transaction: Once the transaction is complete, you will receive a confirmation message on your mobile phone. You can also check your account balance to ensure that the transfer has been completed successfully.
Note: IMPS transactions can only be initiated and completed during the bank’s working hours. Additionally, there may be charges associated with IMPS transactions. Please check with HDFC Bank for more details.
How to Add Beneficiary for using IMPS in HDFC Bank?
These are the steps to add beneficiary so that you can send them money via HDFC IMPS:
Step 1: Register for HDFC netbanking services
Step 2: Login to your HDFC netbanking/mobile banking account
Step 3: Hit the ‘Funds Transfer’ tab
Step 4: Under the “Request” tab, select “Add a Beneficiary” and choose the beneficiary type as “Transfer to other bank”.
Step 5: Provide the required details such as the beneficiary’s account number and IFSC code, or mobile number and MMID.
Step 6: Click on “Add” and then “Confirm”.
Step 7: Proceed to authenticate yourself through the secure access step, and wait for your confirmation message.
After 30 minutes, the beneficiary will be successfully added, and you can transfer funds to any beneficiary who is registered with IMPS. For the first 24 hours, you can transfer up to Rs 50,000.
HDFC IMPS Limit using MMID
For IMPS transfers using MMID, you can transfer up to Rs 5,000 per day per Customer ID, on either Net Banking or Mobile Banking channels.
Also, check all related details about the IMPS:
|IMPS Limit||SBI IMPS||PNB IMPS Charges|
|HDFC Bank IMPS||IMPS Charges||SBI IMPS Charges|
|IMPS Full Form||IMPS Charges ICICI Bank||Bank of Baroda IMPS Limit|
|MMID||Indian Bank IMPS Charges||HDFC IMPS Limit|
|SBI IMPS Limit||SBI IMPS Timings||ICICI IMPS Limit|
HDFC IMPS Charges: FAQs
No. HDFC IMPS chares are applicable only for outward transactions.
IMPS charges HDFC Bank for transaction of more than Rs 1 lakh is Rs 15 plus GST.
If you do IMPS transfer using HDFC netbanking or mobile banking, the bank will not charge any IMPS fees.
Inward HDFC IMPS charges for salary account are NIL. The same way, it is free when done via mobile banking or HDFC netbanking.