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How to get MMID number? |
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All our existing Mobile Banking activated customers will be issued 7 digit MMID for the primary account registered. Their unique MMID number generated from the system will be sent to their Mobile number via SMS. Users of Application based Mobile Banking can retrieve their MMID no. from the option “Know your MMID “incorporated under Fund transfer –Other Bank. |
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I have an account with Bank of Baroda. How can I avail this facility? |
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You need to register for Baroda M-Connect facility through your ATM/ Debit Card for availing Mobile Banking Service under which IMPS is covered. Alternatively, Customers not having ATM/ Debit Card can register themselves for Baroda M-Connect facility by applying to their respective branches. |
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How do I transfer funds through Interbank Mobile Payment Service? |
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- Register yourself with the bank for getting your MMID.
- Share your mobile number and MMID with the remitter/beneficiary.
- Open the mobile banking application with user ID.
- Select Funds Transfer > Select Other Bank> Select IMPS > enter mobile number of the payee > enter payee MMID (7digits) > enter purpose (optional) > enter amount > select account to be debited. Choose OK.
- Confirmation SMS will be sent both to the customer and beneficiary.Check the confirmation SMS for credit/debit to your account from the remitter /beneficiary.
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Can I link more than one account to the same mobile number? |
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Yes. You can link more than one account to the same mobile number. You will get a separate MMID for each account. |
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Incase if the customer has more than one account linked to his/her mobile number how does he select the account from which he/she intends to pay? |
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Bank will allocate a separate Mobile Money Identifier (MMID) code for each account of a mobile banking customer. Customer can then select the account by using this MMID allocated to him. Combination of mobile number and MMID helps as a mistake proofing step for the remitter and tries to mitigate the risk of wrong credit incase the remitter enters erroneous mobile number. |
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Is there any limit on the value of transactions in IMPS? |
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The remittance is subject to the daily/monthly limit prescribed for Mobile Banking service. The maximum limit is Rs. 50,000 per day and Rs. 2, 50,000 per month. |
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What if IMPS registered mobile is lost or misplaced? Will anyone who comes into possession of mobile be able to make a remittance from customer’s account? |
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At the time of mobile banking registration, bank would provide the customer a User id and MPIN (Mobile Personal Identification Number) for accessing the mobile banking facility. An IMPS remittance will not be possible without these inputs. However, we will suggest you to deregister your mobile number through an ATM/Branch in case you lose/misplace your registered mobile. |
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What happens in case the remitter enters a wrong beneficiary mobile number for remittance? |
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Beneficiary details required for making a remittance are mobile number and MMID. The transaction will get declined in case anyone of these two numbers is erroneous and transaction gets reversed instantly. |
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What are the timings for initiating and receiving IMPS remittances? |
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IMPS transactions can be sent and received at any time and any day. There are no timing or holiday restrictions on IMPS remittances. |
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If the transaction is not completed, will the customer get his/her money back? When? |
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Yes. In case for any reason, technical or business, IMPS transaction is not completed then reversal of the funds will happen immediately. In case if such a transaction becomes a subject to reconciliation wherein the status of transaction is not determined immediately, reversal of funds will happen on next working day. |
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What charges will I have to pay for using the facility? |
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Presently, there are no charges for using the facility. |
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Can I transfer funds from my account to the beneficiary’s account in other bank? |
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Yes, you can transfer funds to the beneficiary account in other IMPS member banks. |
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Is it necessary for me to have sufficient account balance to initiate a remittance? |
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Yes, you should have sufficient account balance to initiate a fund transfer. |
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How would I know if my account has been debited and funds have been credited in the beneficiary’s account? |
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Remitting agency will send a confirmation SMS to you about the transaction initiated by you. |
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Can I remit and/or receive remittance using the mobile number other than the one registered with the bank? |
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For sending/receiving remittance through any other mobile number you will have to first deregister yourself from Baroda M-Connect service and then re-register your new mobile number for Baroda M-Connect facility. |
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Are all banks offering IMPS? |
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This service is being offered by major banks. The updated list of banks offering IMPS is available on website http://www.npci.org.in/bankmember.aspx |
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Is the beneficiary customer also required to register for IMPS? |
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Beneficiary customer should have their mobile numbers registered with the bank where he/she maintain account and where he intends to receive the credit and should have a valid MMID provided by the bank. |
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What beneficiary details does the customer need to affect an IMPS remittance? |
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The beneficiary details required are:
a. Beneficiary’s mobile number
b. MMID of the beneficiary customer |
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How does the remitter come to know that his account is debited and funds have been credited in the beneficiary’s account? |
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Remitting bank sends a confirmation SMS to the remitting customer about the transaction initiated by him/her. |
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How does a beneficiary come to know of funds being credited to his/her banks account? |
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Beneficiary bank sends a confirmation SMS to the beneficiary customer informing him/her of the credit in the account. |
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When can the beneficiary use the funds received through IMPS? |
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Beneficiary can use funds immediately on receipt of credit in the a/c. The funds received through IMPS are good funds and can be used immediately upon credit. |
