Domestic Money Transfer

Benefits of IMPS Services

Domestic Money Transfer

A large number of people in India, particularly the migrant population, doesn’t have access to formal banking channels for want of proof of identity/address etc. This lead to innumerable hardships faced by them while attempting to remit money back to their family members. This is happening even when various channels for Domestic Money Transfers (DMT) are available viz. IMPS, UPI, NEFT, RTGS etc.

This product design brings seamless remittance experience to the customers backed by technology interface through Postman/ GDS/ Access Points Counters and simultaneously ensures hassle-free & affordable fund transfer service for the migrant population. This cash to Bank A/c remittance service is offered across more than 1.36+ lakhs Access Points (Post Offices) across India.

Highlights

  • Send money instantly
  • Allowing cash to account fund transfer for Non-IPPB Customers/ Remitters.
  • Instant confirmation to remitter via SMS
  • Safe and secure transaction
  • This service is available across all the access points of IPPB (CBS & MATM)
  • Remitters identification to be done using Mobile Number
  • Lowest service charge of 1% of transaction value (minimum service charge of Rs. 10), inclusive of GST & Cess (if applicable)

Services Available to customers (Remitters)

  • DMT Registration (with mobile number only) with an option to upgrade it to Full KYC (with mobile number, Aadhaar number & PAN) to enjoy higher limits
  • Modification of mobile number, in case of full KYC customers
  • Beneficiary – Registration, Inquiry & Deletion
  • Fund transfer
  • Transaction Inquiry
  • Refund, in case of failed attempts
  • Complaint Management