How to Send Money Using IMPS via Mobile Banking in India

Immediate Payment Service (IMPS) is one of the fastest and most convenient methods to transfer money in India, enabling seamless fund transfers 24x7. If you’re searching for a reliable platform to make these transfers, Bajaj Pay is a go-to solution. Bajaj Pay, accessible via the Bajaj Finserv App and website, provides you with a hassle-free, cost-effective, and secure way to carry out IMPS transactions. Best of all, there are no hidden charges—Bajaj Pay offers zero fees and convenience charges on all payments.

What is IMPS and how does Bajaj Pay make it easier?

So, what is IMPS transfer, and why should you use it? IMPS is a real-time payment service that facilitates instant money transfers across banks within India. This service is regulated by the Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI), ensuring high levels of safety and transparency. The leading advantage of IMPS is its round-the-clock availability, meaning you can send money even on weekends and bank holidays.

With Bajaj Pay, transferring money through IMPS has never been easier. Bajaj Pay offers a BBPS-enabled (Bharat Bill Payment System) infrastructure, ensuring secure and seamless transactions for users. Whether you’re using an Android or iOS device, you can access IMPS directly through the Bajaj Finserv App or the Bajaj Pay website. On top of this, all transactions are free of cost—Bajaj Pay guarantees zero IMPS charges for users. So, whether you’re transferring money to a loved one or paying for a service, Bajaj Pay is your one-stop platform for all money transfer needs.

Features of IMPS on Bajaj Pay

Here are the various benefits of using IMPS on Bajaj Pay:

• BBPS-certified and RBI-regulated platform: Transactions are processed on a secure and trustworthy platform that adheres to industry standards.
• Zero fees and zero convenience charges: You can use Bajaj Pay with no additional costs, a significant advantage over many other platforms.
• Multiple payment modes: Transfer funds using UPI, net banking, or your debit or credit card.
• Instant payment confirmation: Every IMPS transfer is completed in real-time, and digital receipts are instantly accessible.
• 24x7 operational availability: Send money anytime, even on weekends or public holidays.
• Seamless accessibility: Easily initiate an IMPS transfer via the Bajaj Finserv App or the Bajaj Pay website.
• Wide network: IMPS on Bajaj Pay supports fund transfers across almost all Indian banks.
• User-friendly interface: Even first-time users can navigate the Bajaj Finserv App or website with ease to make their transactions.

Top 5 banks enabling IMPS transfers on Bajaj Pay

1. State Bank of India (SBI)

The largest public sector bank in India with vast customer reach, enabling instant and secure money transfers.

2. HDFC Bank

A preferred private bank known for its user-friendly mobile banking and robust IMPS facility.

3. ICICI Bank

Offers wide accessibility with seamless IMPS integration for transferring funds instantly.

4. Axis Bank

Known for its customer-centric services, Axis Bank ensures smooth IMPS money transfers for real-time payments.

5. Punjab National Bank (PNB)

A top choice for individuals relying on a trusted banking partner for their transactions through IMPS.

Things to keep in mind before transferring money using IMPS

When conducting an IMPS transfer, follow these essential tips to ensure a smooth transaction:

• Double-check the beneficiary’s account number and IFSC code or mobile number before initiating the transaction.
• Ensure that the beneficiary’s bank supports IMPS.
• Maintain a stable internet connection on your mobile phone to avoid disruptions during the transaction.
• Always verify the payment amount to avoid any discrepancies.
• Use Bajaj Pay’s calendar feature to set reminders for recurring transfers or bills.
• Save the digital receipt for future reference or in case of disputes.
• Keep an eye on the “Offers and Rewards” section on Bajaj Pay for cashback deals and discounts.

Benefits of sending money through Bajaj Pay

By choosing Bajaj Pay for your immediate payment service needs, you unlock a host of benefits, including:

• Zero fees and charges: With Bajaj Pay, you can transfer money through IMPS without incurring service fees or convenience charges. This cost-saving feature makes it a highly attractive option for users.
• Exciting rewards and offers: Bajaj Pay ensures your transactions lead to savings and surprises. Enjoy access to exclusive cashback promotions, discounts, and Bajaj Pay rewards for eligible transfers.
• Secure and trusted platform: As a BBPS-certified and RBI-regulated platform, Bajaj Pay ensures the highest level of security for your money transfers, complete with end-to-end encryption.
• Simple and user-friendly: Bajaj Pay offers an intuitive interface on both the Bajaj Finserv App and the Bajaj Pay website, making it easy for anyone to execute payments.
• One-stop payment platform: Manage all payment needs, from bills and recharges to money transfers, FASTag, and more, in one place.
• Instant and efficient process: Say goodbye to long waiting times. Transactions are processed in real time, and you receive an instant confirmation along with a downloadable digital receipt.

How to transfer money using the Bajaj Finserv App

Follow these simple steps to send money via IMPS on Bajaj Pay:

1. Open the Bajaj Finserv App

Download and launch the app on your Android or iOS device, or visit the Bajaj Pay website through your browser.

2. Log in or register

Sign in using your registered mobile number or create a new account if you're a first-time user.

3. Go to the ‘Money Transfer’ section

From the home screen, navigate to the “Money Transfer” option to access IMPS services.

4. Select the bank or add the beneficiary

Pick the beneficiary’s bank from the list provided, or add new beneficiary details such as name, account number, and IFSC code.

5. Enter essential details

Provide the amount you wish to transfer and verify the account name to ensure accuracy.

6. Choose your payment mode

Select from UPI, net banking, debit card, or credit card options.

7. Confirm and complete the transaction

Double-check all the information and hit “Confirm.” You’ll receive instant confirmation and a digital receipt that you can save for your records.

Conclusion

Sending money via IMPS is one of the safest, fastest, and most reliable modes of transferring money in India. With Bajaj Pay, the process becomes even more convenient, thanks to its simple interface, zero IMPS charges, and commitment to security. Additionally, you can earn rewards, access exclusive cashback offers, and enjoy a streamlined payment experience through the Bajaj Finserv App or Bajaj Pay website. Ready to enjoy hassle-free money transfers? Use Bajaj Pay today!