Bank New Update: Under the new facility of IMPS, the facility to verify the beneficiary will be given. With this, the person transferring money will be able to see whether the account number of the person to whom the money is being sent is correct or not.
IMPS Money Transfer: If you also use net banking then this news is useful for you. Users will soon be able to transfer money through IMPS without linking the receiver’s account number. Through this, the account holder will get the facility to directly transfer up to Rs 5 lakh. To transfer money, the account holder will need to enter the mobile number of the receiver and the name registered with the bank. This facility will be available soon. Currently, to send money through IMPS, account holders had to link the account with IFSC code apart from the account number.
The registration process also takes some time. Until the account is linked, money cannot be transferred. After linking the account, money is transferred within a few seconds. But now preparations are being made by NPCE to change this system and the process of linking the account will not have to be done. Let us tell you that IMPS is a payment transfer service provided by NPCI. Through this, payment can be transferred at any time.
Under the new facility of IMPS, the facility to verify the beneficiary will be provided. With this, the person transferring money will be able to see whether the account number of the person to whom the money is being sent is correct or not. Under this facility, the account holder will also be given the facility to check the name entered in the bank details. This system will be expanded to the corporate level with wholesale and wholesale. Currently, money can be sent in two ways under IMPS-
To transfer money in the first method, account number, bank name and IFSC code of the branch are required. For this, the beneficiary’s account has to be linked to one’s own account. In the second method, use of MMID is necessary to send money from one account to another.
