Immediate Payment Service (IMPS) is an instant electronic fund transfer service between banks through mobile phones. Only Mobile Banking customers can remit money under IMPS. While all customers can receive funds in their accounts using this Service.
The limit to transfer funds through SMS is Rs 1,000 per day and Rs 5,000 for the month. Through mobile banking application and WAP the limit is Rs 50,000 per day and Rs 2,50,000 for the month.
How to generate MMID in SBI?
All registered Mobile Banking Users will be allotted MMID and which will be Send through SMS on next day of registration.
1. Generate MMID
2. Go to ATM >MobReg>SMS SMS Alert / 3DSecured Code / IMPS>10 digit Mob No.
3. Apply at the Branch for online registration.
4. User will Receive MMID through SMS.
5. For Retrieval of MMID:
a. Send SMS "MMID SBI" to 9223440000 to retrieve your MMID.
How to get MPIN?
After sending SMS to 9223440000/ 567676, customers will receive the User ID and default MPIN via SMS on the registered mobile number. Please do change default M-PIN to avail mobile banking service in that mode.
How can a user remit money using IMPS?
Before transfering funds, one should add a beneficiary which will be activated by the internet banking system within 4 hours. Once activated, you can remit a maximum amount of Rs 10000/-. During the first 5 days after activation, you can transfer a total sum of Rs 50,000/- to a new beneficiary if activated by the system.
The beneficiary details required are:
a. Name of the beneficiary
b. Account Number of the beneficiary
c. IFS Code of the beneficiary bank
1. Log on to 'www.onlinesbi.com'.
2. Visit Payment /Transfer section and click on IMPS fund transfer.
3. Please select 'Person to Person' if the beneficiary has been added as IMPS Beneficiary or 'Person to Account' if the beneficiary has been added as Interbank Beneficiary.
4. Input the amount a user wishes to remit.
5. Approve the transaction using OTP (one time password) received on your registered mobile number.