IMPS Facility by Money2India
The Immediate Payment Service (“IMPS”) from ICICI Bank’s Money2India has been temporarily discontinued. We shall intimate you through an update on the website, once we resume this service.
What is IMPS facility by Money2India?
The Immediate Payment Service (“IMPS”) from ICICI Bank’s Money2India helps you access your bank account and transfer funds instantly as well as securely. It enables you to transfer funds instantly from your foreign bank account to all the enabled non-ICICI bank accounts who are registered with NPCI (National Payments Corporation of India) for receiving funds from foreign inward remittance channel.
Features and Benefits
- Convenience: Available 24x7, throughout the year including Sundays and all bank holidays.
- Speed: Post processing,funds are transferred instantly to your beneficiary account.
Limits for Funds Transfer:
- Funds can be instantly delivered through IMPS option only if the transfer request is less than 1,90,000 INR.
- If the fund transfer request is greater than 1,90,000 INR then it will be processed under NEFT mode(National Electronic Funds Transfer) for Non ICICI Bank accounts.
List of Banks:
Following banks are participating on the IMPS Platform to receive funds from foreign bank accounts.
- HDFC Bank
- Andhra Bank
- Canara Bank
- Bank Of Baroda
- Union Bank Of India
- Kotak Bank
- Corporation Bank
- Yes Bank
- Federal bank
- Central Bank of India
- Catholic Syrian Bank