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Transfer cash to any bank account without internet or SMS charge
Prime Minister Narendra Modi had proposed the Cashless Economy to cut down black money transactions and to reduce public’s difficulties due to demonetisation of high denomination currency notes of Rs 500 and Rs 1,000. National Payments Corporation of India (NPCI) providing all the facilities for public to make easy payment transactions through IMPS (Immediate Payment Service), it allows people to make instant, 24X7, interbank payments to individuals, or merchants / enterprises via mobile phone and other channels (Internet or ATM).
The key features of IMPS are as follows:
- Instant Interbank fund transfer
- Convenient and time-saving
- Anytime, anywhere service
- Safe & secure
- Simple & easy to use
- 24*7*365 availability
- Instant confirmation to sender and receiver
Now people can do IMPS fund transfer through mobile phone without using internet or SMS charge, it is possible using USSD (Unstructured Supplementary Service Data), that easy as like check your mobile balance or data balance by using quick codes (*123#) service. By using USSD service anyone can transfer amount to other bank accounts with in one minute time and both persons (sender & receiver) get confirmation message immediately.
Before starting IMPS fund transfer, you must know the following prerequisites,
- Your mobile number should register for mobile banking with respective bank
- You must know your bank’s First 4 Letters of IFSC (for eg, FDRL, SBIN) OR Bank Short Name (for eg, FBL, SBI), you can get the list of all banks short names and IFSC here
- You must know beneficiary (fund receiver) mobile number (10 digits) and MMID – Mobile Money Identifier (7 digits)
- You must know your M-PIN (Mobile Banking Pin)
To find details on how to do the above for your respective bank, please click here
Here are the easy steps you should follow to complete IMPS fund transfer from your mobile device without any mobile app, internet or SMS service.
Enter the USSD service code*99# on your mobile dialpad and place the call using your Mobile Banking registered number
Now you will get the Welcome message and request you to enter your bank Short Name or Bank IFSC, for example ICICI bank short name is ICI, this step will help the service to understand sender's bank
Now you will get the list of option to choose, here you can select option 3 Send Money Using MMID and click on send
In this screen you should provide Beneficiary's (fund receiver) 10 digits mobile number and click on send
Next screen you should provide Beneficiary's (fund receiver) 7 digits MMID and click send
Now you will get the space to enter transfer amount and remarks text, the remarks is optional, if you want to enter a remarks with amount, just put the amount first and give a space and provide the remarks text.
Now the last step in the process, here you must give your M-PIN (Mobile Banking Pin) and your Account Number Last 4 digits. For example, first 4 digits M-PIN and a space and Last 4 digits of your Account number.
Once you complete this step you will get a your transaction status, if the transaction is success you will get a transaction reference number, if the transaction is failed you will get an error message.
A brief description of the process given by Govt of India is given below