Customers with an ICICI account must know about the ICICI Bank IMPS charges as it is one of the most commonly used transaction services since its inception. Therefore, we have collated the IMPS charges in ICICI Bank for online as well as at-the-bank ICICI IMPS charges.
ICICI Bank IMPS Charges: At the Bank
The following-mentioned are the IMPS charges ICICI Bank levies on its customers to do the IMPS transaction at their ICICI branch, basis amount to be transferred:
- Up to Rs 1 lakh: Rs 5 (+GST)
- Above Rs 1 lakh to Rs 5 lakhs: Rs 15 (+GST)
ICICI IMPS Charges: Online
Like all the scheduled commercial banks in India, ICICI Bank also does not charge its customers with IMPS charges when they carry out the transactions using the digital route of internet banking or mobile banking.
How to use ICICI Bank IMPS service?
To send money via IMPS from your ICICI Bank account, follow these simple steps:
Step 1: Login to ICICI Bank Net Banking or iMobile Banking app using your credentials.
Step 2: Select the “Funds Transfer” option from dashboard.
Step 3: Choose “IMPS” as the mode of transfer.
Step 4: Add the beneficiary account details, including the name of the account holder, account number, and IFSC code. You will need to add the beneficiary’s account details only once before initiating the first transfer.
Step 5: Enter the amount you wish to transfer and any other relevant details, such as purpose of payment or reference number.
Step 6: Verify the details you have entered and confirm the transaction by typing in the OTP that you will receive on your registered mobile number.
You will receive an SMS and email confirmation once the transfer is successful.
What is IMPS?
IMPS (Immediate Payment Service) is a fast and secure way of transferring money instantly between bank accounts in India. It is an electronic funds transfer service offered by the National Payments Corporation of India (NPCI) that enables customers to send and receive money 24×7, 365 days a year.
Why should you use IMPS?
The following are some of the reasons that focus on the benefits of IMPS as a mode of fund transfers:
- Available 24×7
- Instant debit and credit of amount
- Convenient (via netbanking, ICICI mobile banking and ATM as well)
- Secure
- Cost-effective due to nominal charges
- Can be used for transfers up to Rs 5 lakhs in a day
Also, check all related details about the IMPS:
ICICI Bank IMPS Charges: FAQs
There are no ICICI Bank IMPS charges for online transactions.
IMPS transactions up to Rs 1 lakhs fetch Rs 5 and above Rs 1 lakh to Rs 5 lakhs fetch Rs 15 as ICICI IMPS charges when done at the bank.
Yes. IMPS charges across banks attract GST as per the applicable GST rates.
ICICI Bank IMPS charges are same for current account and savings account, i.e. Rs 5 for transfers up to Rs 1 lakh and Rs 15 for transfers above Rs 1 lakhs, plus taxes.
