Question: Can Imps Be Done Anytime?

What is the maximum amount for imps?

NEFT/RTGS/IMPS Charges, Timings, LimitsTransaction Limits/TimingIMPS (24x7x365)iMobileMinimumRe 1Re 1MaximumRs 2 lakhRs 10,0001 more row.

Which is better Neft RTGS or IMPS?

IMPS (Immediate Payment Service) So, you can think of IMPS as the fund transfer mode that has the best features of both RTGS and NEFT. You can transfer amounts as low as you want, any time you want, with instant results. Though IMPS services are mostly used online, a few banks offer SMS services.

Can we transfer 5 lakhs through IMPS?

According to the RBI website, to transfer 2-5 lakh, a bank can charge up to 30 per transaction and above 5 lakh, not more than 55 per transaction. … For transferring money via IMPS, generally banks charge 5 for amounts up to 1 lakh and 15 for amounts above 1 lakh and up to 2 lakh.

Can imps be done on Sunday?

Our IMPS service helps you access your Bank Account and transfer funds instantly. The beneficiary account is credited immediately when a Fund Transfer request is made through your Mobile phone / Internet Banking. This service is available 24×7, throughout the year including Sundays and any bank holiday.

Can imps be done at night?

IMPS, which stands for immediate payment service (IMPS), helps in transferring fund from one individual to another. It works on real time basis. This instant service is available throughout the day and night even on holidays.

Will imps be charged?

However, the regular IMPS charges range from Rs. 2.50 to Rs. 25 for amounts of Rs. 10,000 to Rs….IMPS Charges.Transfer AmountCharges (Subject to Change According to Banks)Up to Rs. 1,000No chargesFrom Rs. 1,001 to Rs. 1 lakhRs. 5 + Applicable GSTFrom Rs. 1 lakh to Rs. 2 lakhRs. 15 + Applicable GSTOct 6, 2020

Should I do Neft or imps?

If you have to make a transfer quickly and don’t want to go through the hassle of registering a beneficiary, opt for IMPS. On the other hand, if you want to transfer a large amount, NEFT is the better choice.

Is imps chargeable in Yes Bank?

All customers having an Yes Bank account can facilitate the use of IMPS. IMPS fund transfer is completely free. Beneficiaries do not have to be enrolled in any mobile banking service to receive the funds.

Why is imps being declined?

The beneficiary details required for sending money are mobile number and MMID or Account number and IFSC code. The transaction will get declined in case any one of these two numbers is erroneous and the transaction will get reversed instantly. … IMPS transactions can be sent and received at any time and any day.

Can imps be delayed?

A. If your IMPS transaction times out or fails, check if your money has been debited from the account. If the money is not debited, you can wait for a few minutes and strike another transaction. In another case, if the money is debited from your account, check your account after two working days.

How many times IMPS can be done in a day?

A. Any user can make IMPS Transactions 24 x 7 a day including Sundays and bank holidays.

Which is cheaper Neft or imps?

NEFT and IMPS charges are decided on the bank’s discretion. NEFT charges start from a minimum of Rupees 1 per transaction and go up to Rupees 25 per transaction. IMPS charges usually start from a minimum of Rupees 5 per transaction and can go up to Rupees 15 per transaction.

How long will IMPS transfer take?

How long does it take to transfer funds using IMPS? A: IMPS can be carried out 24*7 irrespective of the day of the week or time of the day. When you initiate an IMPS transfer, the money is immediately debited from your account and credited to the beneficiary. Some banks may allow you to transfer up to Rs.

Can I check IMPS transaction status?

You can log into your mobile banking account or net banking account to check the status of your IMPS transaction. IMPS Reference Number Tracking can be easily done by using the unique IMPS reference number which is provided by the bank after every successful IMPS transaction.