Immediate Payment Service (IMPS) offers an instant, 24X7, interbank electronic fund transfer service through mobile phones.IMPS is an emphatic tool to transfer money instantly within banks across India. IMPS helps in making payments simpler, transactions are done with just the mobile number of the beneficiary.
One important and useful feature of IMPS is that fund transfers can be done anytime and even on bank holidays.
The facility is available to all registered users of CSB's internet and Mobile banking services.
If you wish to receive funds using this mode, you need to generate a MMID for your account.
Mobile Money Identifier (MMID) is a 7 digit code issued by a participating bank to their Mobile Banking registered customers for availing IMPS service as a beneficiary. Every account will have a unique MMID. You can generate your MMID by loggin into CSB Internet Banking or Mobile Banking.
In order to use IMPS to transfer funds to a beneficiary, you will need
a. MMID* of the beneficiary,
b. Mobile number of the beneficiary
c. Name of the beneficiary/IFS Code of the beneficiary bank
It is also useful to note that you can receive funds using IMPS only via the mobile number only and other details registered with the bank.