Indian Bank MMID

Indian Bank MMID

Keeping up with the digital era, the banking system has also been improving and updating itself with the technology. There are methods developed and available in Indian Bank, which allow us to instantly transfer money to a payee having an account in any bank using your mobile phone. One of such methods is Immediate Payment Services (IMPS) which involves the use of MMID. 

What is MMID in the Indian Bank?

MMID stands for Mobile Money Identifier, which is a 7-digit unique number constructed using a combination of your mobile number and your Indian Bank’s account number. An MMID code allows you to make interbank money transfers via mobile banking platforms. 

Every bank account will have a different MMID code, but all the MMIDs can be linked to your single mobile number.  

So, with MMID, when users make a transaction via IMPS using their mobile banking services, they’ll use their unique MMID code to verify and secure their transactions. For a transaction to be successful, the beneficiary and the remitter both should have an MMID.

Why was MMID introduced?

Not all people in the country have access to the internet to avail of RTGS & NEFT services. Since most people possess mobile phones, MMID was introduced to allow the majority of people to use instant fund transfer facilities. Senders & receivers don’t require any details like the account number or the IFSC codes. So if you have your bank account and your phone number linked, you can transfer money via MMID. 

Benefits of using the Indian Bank IMPS Fund Transfer

  • A customer can send up to ₹2,00,000 in one day.
  • Real-time money transfer facility, the beneficiary immediately receives the amount.
  • 24×7 service available throughout the year, even on the off-days/hours of the bank.
  • The IMPS fund transfer facility is free of charge.
  • IMPS transactions can be made anytime, anywhere and can be used to make payments such as DTH top-up, credit card bills, education fee payments, grocery shopping, etc.
  • To make an IMPS fund transfer, customers can use their MMID, mobile number or bank account number and IFSC code.
  • You are notified after each transaction. The remitter & the beneficiary both receive a message confirming the transaction.

Eligibility to use the Indian Bank IMPS fund Transfer Services

  • The customer must have an account with the Indian Bank, and their mobile number must be registered with their account.
  • The customer should be registered for using net banking or mobile banking.
  • Should have an MMID linked to a bank account (savings, salary or current account) to make transactions using your phone.
  • The customer should also have an MPIN to make inter-account transactions. As customers without an MPIN can only receive funds.

How to generate MMID of Indian Bank?

The process to generate the MMID for your Indian Bank account is straightforward and simple. All you are required to do is send an SMS via the mobile number registered with your respective Indian Bank account.

  • Compose a new SMS in the following format:

MMID<space><enter your bank account number>

  • Send this text message on the number 9444394443.
  • The Indian Bank will immediately send its response with your MMID.

Contact the Indian Bank customer care if you do not receive a confirmation text message from the bank within the next 15 minutes. Dial Indian Bank’s national toll-free IVR number, 1800-4250-0000, and contact the customer care executive to generate your MMID.

Also Read: Indian Bank Credit Cards

How to Transfer Money by using Indian Bank IMPS?

Transfer Money by using Indian Bank IMPS via Internet Banking

In order to make an IMPS fund transfer via Internet Banking, the customer has to add the payee for the bank to confirm the payee and then proceed to make the transfer.

If you want to know how to add beneficiaries in Indian banks using internet banking then click here

Steps to transfer funds using Indian bank IMPS service via Internet banking:

  • After login into internet banking select “Fund Transfer.
  • Select the mode of transfer as IMPS.
  • Select either IMPS using IFSC code or IMPS using MMID.
  • Enter the amount to be transferred.
  • Click on “Confirm.” There may be a requirement to enter the OTP or the select grid numbers on your debit card.

Transfer Money by using the Indian Bank IMPS via SMS

You can transfer money from your account via SMS by entering the details of the beneficiary’s MMID and mobile number and your MMID. The steps to make an IMPS transaction via an SMS are as follows:

  • Compose a new message in the following format:

<Beneficiary’s Mobile number><space><Beneficiary’s MMID><space><Amount to be transferred><space><your MPIN><space><your MMID>.

  • Send the composed SMS to 9444394443.

A text message will be sent to both the remitter and the beneficiary once the SMS is sent and the transaction is complete.

Transfer Money by using Indian Bank IMPS via IndPay App

You can make money transfers using the Indian Bank mobile app called IndPay using the following steps. Before that you have to add beneficiaries So click here if you want to know how to add beneficiaries in Indian bank using IndPay App.

Steps to Transfer Money by using Indian Bank IMPS via IndPay App:

  • Login to the IndPay app.
  • Select Fund Transfers.
  • Select either “To other IB account (24×7- IMPS)” or “To non-IB account (24×7-IMPS)“.
  • Select the Indian Bank account from which you wish to make the transfer.
  • Select the respective beneficiary’s account.
  • Enter the amount to be transferred,
  • Optionally, you can add the remarks.
  • Add the 4-digit MPIN and confirm your transaction.
  • Enter the OTP and finally confirm the transaction.

You and the receiver will receive a notification of a successful transaction immediately.

Also Read: What are Bulk Charges in Indian Bank?

Transfer Money by using the Indian Bank IMPS via USSD

You can send money using USSD services by using the number *99#.

  • Register yourself for USSD banking
  • Set up your UPI Pin.
  • To send money, select the option number to send money and press send.
  • A menu is displayed to select the mode of payment. Choose the preferred number.
  • Follow the instructions to transfer money using USSD successfully.

How to Receive Money via IMPS?

To receive money, the person has to have his/her mobile number registered with the Indian Bank account. You’re required to share your account number and IFSC code or your MMID with the intended remitters to receive credits from IB remitters or other bank’s remitters.

What are the applicable charges on IMPS services in Indian Bank?

There are some standard charges applicable on using IMPS services while transferring money. These charges are as follows:

Transaction AmountIndian Bank IMPS charges (per transaction)
Up to ₹25,000nil
₹25,000 to ₹2,00,000₹6 + GST

Also Read: Indian Bank Cash Deposit Machine Near Me

What are the disadvantages of using IMPS in the Indian Bank?

  • A maximum of only 200000 can be transferred through IMPS.
  • A new beneficiary has to be activated before a transaction can be made.
  • A maximum of only 10000 can be sent on the day of activation.
  • All banks of India do not provide IMPS services.
  • There are per transaction charges applicable on IMPS fund transfers.

Where to Register a Complaint Regarding IMPS Transactions?

All Indian Bank customers can register their complaints regarding an IMPS transaction with the Indian Bank. The customer is required to provide all the details associated with the transaction, such as the beneficiary’s account number, beneficiary’s bank name, amount, the timing of the transfer, etc.

How to cancel MMID in Indian Bank?

Canceling your MMID in the Indian Bank is just as simple as generating it.

  • Call the national toll-free 24×7 available IVR number of Indian Bank, 1800-4250-0000.
  • Connect with the customer care executive and request them to cancel your MMID.
  • Tell them your account number and other details when asked.
  • Follow the instructions, and your MMID will be cancelled in a few minutes.

You’ll receive a confirmation text message from the bank to notify you about the successful operation of MMID cancellation.

Indian Bank facilitates the IMPS services for your convenience to make real-time transactions. The benefits of IMPS money transfer services have brought a new, easy & convenient way to make transactions. 


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