Mobile Banking

IMPS is a new service that is set to revolutionise the retail money payment sector in India. We take the pride to announce that The Mahanagar Co-op. Bank Ltd., has already joined the revolution since 01st Jan., 2016 (As beneficiary). All the registered Customers will now be able to receive money instantly to their accounts to any other account in the country via IMPS

Key features

The following key features are available on mobile banking (IMPS).

  • Instant Interbank fund transfer
  • Convenient and time saving
  • Anytime, anywhere service
  • Safe & Secure
  • Simple and easy to use
  • 24*7*365 availability
  • Instant confirmation to Sender and Receiver
How to get MMID

The following Benefits are available on internet banking.

  • Customer doesn’t have to wait in line.
  • Customer don't have to plan them day around the bank's hours.
  • Customer can look at them balance whenever they want, not just when they get a statement
  • Customer can check them account Transaction details quickly
  • This Service give you notified of suspicious activity
Guideline for Customer

Obtain application form for IMPS Service or Download application from our web site or Play Store Submit duly filled application form to your bank for registration. After successful registration , SMS will be sent to mobile with details of MMID.

How to receive fund

P2P (Person to Person)

  • Register your mobile number with our bank to link to your account.
  • Get your MMID from our Bank
  • Share your Mobile number and MMID with the remitter
  • Ask the remitter to send money using your Mobile number and MMID
  • Check the confirmation SMS for credit to your account from the remitter

P2A (Person to Account)

  • Share your Account Number and your Branch IFSC Code with the remitter
  • Ask the remitter to send money using your Account Number and IFSC Code
  • Check the confirmation SMS for credit to your account from the remitter
Forgotten MMID

VARA "space" MMID "space" Account Number send to 92200 92200.

FAQ (Frequently Asked Question)

What is IMPS?

Interbank Mobile Payment Service (IMPS) is an instant interbank electronic fund transfer service through mobile phones. IMPS facilitate customers to use mobile instruments as a channel for accessing their banks accounts and remitting funds there from.

Who is providing IMPS service?

NPCI National Payment Corporation of India is providing IMPS service.

Are all banks offering IMPS?

The updated list of banks offering IMPS will be available in NPCI website www.npci.org.in.

Does the customer need to have a bank account for availing IMPS?

Yes, the customer needs to have a bank account with the bank which has enabled this facility.

Does the customer need to register to remit the funds through IMPS? (Currently Not Applicable)

Yes. Customer should enrol for Mobile Banking Service with the bank where customer has an account. The registration process shall be as per their bank’s laid down procedures.

Is the beneficiary customer also required to register for IMPS?

The beneficiary customer should have their mobile numbers registered with the bank where he/she maintain the account and where he intends to receive the credit and should have a valid MMID provided by the bank. No need to specifically enrol for Mobile Banking Service of the bank.

What beneficiary details does the customer need to effect an IMPS remittance?

The beneficiary details required are:
a. Beneficiary’s mobile number
b. MMID of the beneficiary customer

What is MMID?

Mobile Money Identifier (MMID) is a seven digit random number issued by the bank upon registration. Remitter (customer who wants to send money) and Beneficiary (customer who wants to receive the money) should have this MMID for doing this interbank funds transfer.

Can a customer link more than one account to the same mobile number?

Yes. The customer can link the same mobile number to more than one account subject to bank offering that feasibility.

In case if the customer has more than one account linked to his / her mobile number how does he select the account from which he / she intends to pay?

The bank will allocate a Mobile Money Identifier (MMID) for each account of the mobile banking customers. The customer can select the account using this MMID allocated to him / her. The combination of mobile number and MMID helps as a mistake proofing step for the remitter and tries to mitigate the risk of wrong credit in case the remitter enters erroneous mobile number.

How can I receive money using IMPS?

P2P (Person to Person)
• Register your mobile number with our bank to link to your account.
• Get your MMID from our Bank
• Share your Mobile number and MMID with the remitter
• Ask the remitter to send money using your Mobile number and MMID
• Check the confirmation SMS for credit to your account from the remitter
P2A (Person to Account)
• Share your Account Number and your Branch IFSC Code with the remitter
• Ask the remitter to send money using your Account Number and IFSC Code
• Check the confirmation SMS for credit to your account from the remitter

Is there any limit on the value of transactions in IMPS? (Currently Not Applicable)

The limit is defined by RBI in the Mobile Payment Guidelines issued to banks. The customer can transact on IMPS subject to a daily cap of Rs. 50,000/- per customer overall for transactions through mobile for the funds transfer. Transactions up to Rs. 1000/- can be facilitated by banks without end-to-end encryption.

What happens in case the remitter enters a wrong beneficiary mobile number for remittance?

The beneficiary details required for making a remittance are mobile number and MMID. The transaction will get declined in case anyone of these two numbers is erroneous and transaction gets reversed instantly.

What are the timings for initiating and receiving IMPS remittances?

IMPS transactions can be sent and received at any time and any day. There are no timing or holiday restrictions on IMPS remittances.

What are the charges for the customer for sending and receiving remittances using IMPS?

No Charges. Free Service

Are there any subscription charges for the customers to avail this facility?

No Charges. Free Service

How long does it take for the remittance to get credited into the beneficiary account number?

The funds should be credited into the beneficiary account in about 15-30 seconds.

Can the remitter transfer funds from his / her to the beneficiary account in other bank?

Yes, the remitting customer can transfer funds to the beneficiary account in other banks.

Is it necessary to have sufficient account balance to initiate a remittance? (Currently Not Applicable)

Yes, the customer should have sufficient account balance to initiate a fund transfer.

Is it necessary to have a minimum balance to receive funds through IMPS?

Not necessary.

How does the remitter come to know that his account is debited and funds have been credited in the beneficiary’s account? (Currently Not Applicable)

The remitting bank sends a confirmation SMS to the remitting customer about the transaction initiated by him / her.

How does a beneficiary come to know of funds being credited to his / her banks account?

The beneficiary bank sends a confirmation SMS to the beneficiary customer informing him / her of the credit in the account.

Can a customer remit and / or receive remittance using the mobile number other than the one registered with the bank?

The customer can remit and / or receive funds using the registered mobile number only. In case he / she needs to remit / receive funds using the other mobile number, he / she will have to approach the bank and complete the process of changing the registered mobile number for IMPS.

When can the beneficiary use the funds received through IMPS?

The beneficiary can use the funds immediately on receipt of credit in the account. The funds received through IMPS are good funds and can be used immediately upon credit.

How do I register for IMPS with your Bank?

Obtain application form for IMPS Service or Download application from our web site. Submit duly filled application form to your bank for registration. After successful registration , SMS will be sent to mobile with details of MMID.

How the MMID will be communicated to me?

After registration, MMID will be communicated to customer through SMS on his IMPS registered mobile number.

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