HDFC IMPS Charges - Timings, Limit, How To Do IMPS On HDFC Bank?

Banks typically charge customers for using the Immediate Payment Service (IMPS) to transfer funds instantly between bank accounts. HDFC Bank charges a fee for every IMPS transaction. The fee is added to your transaction amount, ranging from ₹2.50 to ₹15, depending on the total transaction amount.

This article provides a comprehensive overview of HDFC Bank IMPS charges and their features.

Charges for HDFC IMPS

The following are the HDFC IMPS charges:

Timings for HDFC IMPS

HDFC Bank IMPS operates 24/7, allowing you to initiate and receive IMPS transfers at any time, any day of the week.

HDFC IMPS Limit

The maximum HDFC IMPS transaction limit is ₹5 lakh per transaction per day. However, the IMPS limit for transfers using MMID through net banking and mobile banking is ₹5,000 per day.

Features of HDFC Bank IMPS Facility

These are some of the unique features of the IMPS facility that you must know before using this service:

Flexibility:

You can make transactions anytime, anywhere from your bank account using the IMPS facility, even on public holidays or during bank holidays.

Easy and Fast Payments:

The IMPS facility is high-speed and user-friendly, allowing customers to make fast payments. You can use this service directly through the HDFC mobile banking app. After a successful payment, both the sender and receiver will receive a confirmation SMS and email from HDFC Bank.

Easy to Use:

The IMPS facility is one of the easiest ways to transfer funds, allowing you to make large transactions. You can perform these transactions directly from your mobile phone if you have registered for HDFC mobile banking.

Who Is Eligible For the HDFC Bank IMPS Facility?

Every HDFC Bank customer registered for the IMPS service can use this facility. According to the National Payments Corporation of India (NPCI), both the sender and receiver must register for the IMPS facility in their respective bank accounts to make seamless IMPS transactions. However, a specific HDFC Bank IMPS charge applies for using this service.

How To Transfer Money Via HDFC Bank IMPS?

HDFC Bank offers multiple channels through which you can utilise its IMPS facility. They are discussed as below:

Net Banking

You can easily complete your IMPS transactions from the net banking facility of HDFC Bank by following these easy steps:

Step 1: Visit the HDFC Net Banking portal and sign in to your account using your customer ID and password.

Step 2: Click on ‘Fund Transfer’ and then on ‘IMPS Fund Transfer’.

Step 3: Enter beneficiary account number, IFSC code, name, etc. 

Step 4: Verify the details and confirm your IMPS transaction.

After every successful transaction, you will receive a confirmation message from HDFC Bank. The bank will also send you another confirmation when the money is deposited into the beneficiary's account.

Mobile Banking 

Follow these steps to complete your IMPS transaction using the HDFC mobile banking app:

Step 1: Download and sign in to the HDFC mobile banking app using your customer ID and password. For new users, first, you need to complete the sign-up process.

Step 2: Click on ‘Pay’, then on ‘Money Transfer’ and select the ‘Transfer Money to Anyone, Anywhere’ option.

Step 3: Select the payee and enter the necessary details, including the beneficiary's mobile number, amount, and MMID.

Step 4: Recheck the details and confirm your payment.

HDFC Bank will send you an SMS confirmation once the IMPS transaction is processed successfully.

USSD

In case you do not have internet connectivity, you can even make an IMPS transaction with USSD service by following these easy steps:

Step 1: Open the dialer of your mobile phone and dial *99#.

Step 2: Enter the first four letters of the beneficiary bank’s IFSC code or enter the bank’s name where you want to transfer the funds.

Step 3: Select any one option between ‘Fund Transfer - Account number’ or ‘Fund Transfer - MMID’.

Step 4: Now enter the details according to the option you have chosen and enter the mobile number of the receiver.

Step 5: Enter the amount you want to transfer and confirm it.

After the successful transfer, you will get a confirmation SMS from HDFC Bank.

Beneficiary Details Required For HDFC Bank IMPS

To complete an IMPS transaction with your HDFC Bank, you need the MMID or the beneficiary’s mobile number. Both the sender and receiver must have an account with a registered mobile number in their respective banks. For IMPS transactions to another bank, you must enter the payee's name, account number, and IFSC code.

Conclusion

The IMPS facility enables instant money transfers from your account, with a nominal fee for each transaction. You can use the HDFC IMPS facility through various channels offered by the bank, as per your convenience.
 

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