SBI IMPS Charges - Timings, Limit, How To Do IMPS On SBI?

IMPS Charges SBI

The following are the IMPS charges in SBI:

IMPS Charges SBI to Other Bank

There is no separate charge for an IMPS transfer from SBI to another bank account. It will be free if you do it online. Visiting a bank branch for IMPS transfer may incur charges depending on the transaction amount.

Timings for SBI IMPS

SBI IMPS timings are 24/7. You can initiate and receive IMPS transfers at any time of the week. It is preferable to make outward remittances between 8:00 a.m. to 8:00 p.m.

How to Register for SBI IMPS?

To register for the SBI IMPS facility, follow the simple steps below:

Step 1: Visit your nearest SBI branch.

Step 2: Submit an application form to activate the IMPS facility.

Step 3: You will get your 7-digit MMID after the activation.

You can also use the MMID for SBI IMPS transactions.

How To Create an IMPS Account?

Here’s how to create an IMPS account for SBI by calling their customer care number:

Step 1: Call the toll number 1800 425 3800.

Step 2: Listen to the instructions and select the mobile banking option.

Step 3: You will be connected with a customer service representative.

Step 4: Tell the representative your mobile number.

Step 5: Confirm details of your SBI account.

Step 6: Your MMID will be sent to your registered number via SMS.

How to Get an MMID for SBI IMPS?

Here are the steps you need to follow to get an MMID for SBI IMPS:

Step 1: Open the SMS app on your mobile phone registered with SBI.

Step 2: Type the below SMS and send it to 9223440000:

‘MMID SBI XXXXXXXXXXX’ 

Here, XXXXXXXXXXX is your 11-digit SBI account number.

The MMID will be sent to your registered mobile number.

How to Add Beneficiary/Payee for SBI IMPS?

Follow the below steps to add a beneficiary for an SBI IMPS transaction:

Using the beneficiary MMID

Step 1: Log in to the SBI Net Banking portal using your credentials (User ID and password).

Step 2: Navigate to the ‘Payments/Transfers’ section and click on ‘Add & Manage Beneficiary’.

Step 3: Now select the ‘IMPS Beneficiary’ option.

Step 4: Add the beneficiary details and click on ‘Submit’.

Step 5: Complete the OTP verification to approve the beneficiary addition.

Without the beneficiary MMID

If you do not have a beneficiary MMID, follow the steps below to add a beneficiary for IMPS transfer:

Step 1: Log in to the SBI Net Banking portal using your credentials (User ID and password).

Step 2: Navigate to the ‘Payments/Transfers’ section and click on ‘Add & Manage Beneficiary’.

Step 3: Now select the ‘Other Bank Beneficiary’ option.

Step 4: Add the beneficiary details and click on ‘Submit’.

Step 5: Complete the OTP verification to approve the beneficiary addition.

How to Transfer Money using SBI IMPS with IFSC?

Here are the steps you need to follow to do an IMPS transfer using the IFSC code:

Step 1: Log in to the SBI Net Banking portal using your credentials (User ID and password).

Step 2: Go to the ‘Payments/Transfers’ tab and click on ‘Other Bank Transfer’.

Step 3: Select ‘IMPS’ and click ‘Proceed’. 

Step 4: Select ‘Person to Account' (using IFS Code) and click on ‘Proceed’.

Step 5: Select your account, enter the amount, select the purpose of the transfer, select the beneficiary account and click on ‘Submit’.

Step 6: Check the transaction details and click on ‘Confirm’.

Step 7: You will receive an OTP on your phone. Enter the same and complete your transaction.

How to Transfer Money using SBI IMPS with MMID?

Let us go through the steps for using MMID to transfer money via IMPS:

Step 1: Log in to the SBI net banking portal with your credentials (User ID and password)

Step 2: Navigate to the ‘Payments/Transfers’ tab.

Step 3: Click on the ‘IMPS Funds Transfer’ option.

Step 4: Select the ‘Person to Person’ (using MMID) option and click ‘Proceed’.

Step 5: Enter your ‘MMID’ and mobile number.

Step 6: Enter the amount you want to transfer and click on ‘Submit’.

Step 7: Verify the transaction details and click on ‘Confirm’.

Step 8: An OTP will be sent to your phone. Enter it to complete your transaction.

Conclusion

SBI IMPS is one of the fastest and most convenient ways to transfer funds instantly. With no IMPS charges, SBI offers online transfers with a daily IMPS limit of up to Rs. 5 lakh, making it ideal for both personal and business payments. However, for branch transactions, nominal charges apply.

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