ICICI Bank offers online fund transfer methods to its customer using three different options i.e. IMPS, NEFT and RTGS. Out of these three, one of the fastest mode of fund transfer is IMPS. ICICI Bank customers can transfer fund using IMPS to any bank account in India within seconds. However, it is important to know the ICICI IMPS Limit before making an IMPS transaction to avoid any payment failure.
What is IMPS?
Immediate Payment Service (IMPS) refers to the electronic mode of fund transfer methods wherein customers can make fund transfer to any bank accounts in India immediately. An IMPS transaction can be initiated anytime and anywhere. This means you can make transfer even on bank holidays, public holidays and weekends.
ICICI Bank IMPS Limit
Customers of ICICI Bank are provided with variety of IMPS services to proceed with banking services. The table given below gives the clear view of ICICI Bank IMPS Limit-
| Transaction Limits/Timing | IMPS (24x7x365) | |||
|---|---|---|---|---|
| iMobile | Internet Banking | |||
| Account number + IFSC | Mobile number + MMID | Account number + IFSC | Mobile number + MMID | |
| Minimum | ₹ 1 | ₹ 1 | ₹ 1 | ₹ 1 |
| Maximum | ₹ 5 lakh | ₹ 10,000 | ₹ 5 lakh | ₹ 10,000 |
*Upto ₹5 lakhs per transaction for IMPS (₹20 Lakhs per day through iMobile Pay)
Apart from these limits, ICICI Bank levies a nominal fee on every transaction, which varies depending on the amount being transferred. Customers can check the fees charged by the bank on its website or mobile app.
Conclusion
ICICI Bank’s IMPS service is an efficient and secure way to transfer money instantly. With different limits set for different types of transactions, customers can choose the option that suits their needs. However, customers should also keep in mind the charges associated with the service, and plan their transactions accordingly.
Also, check all related details about the IMPS:
ICICI Bank IMPS Limit : FAQs
The maximum amount you can transfer per transaction using IMPS is Rs 5 lakh while iMobile Pay allows up to Rs 20 lakh per day.
The ICICI IMPS limit for every transaction is Rs. 5,00,000 per day. You can make fund transfer using IMPS even on public holiday, bank holiday and weekends.
No. There is no such provision in making ICICI IMPS transactions. IMPS transactions can be initiated 24/7, and the funds are transferred immediately.
No, ICICI IMPS can only be initiated for making domestic transactions across the nation.
