Quick Answer: What Is IMPS Transfer Charges In Axis Bank?

Does bank charge for imps?

IMPS Charges: Above Rs 10,000 to Rs 1 lakh, the transfer will cost Rs 5 (plus GST) and transactions above Rs 1 lakh up to Rs 2 lakh will be charged Rs 15 (plus GST)..

What happens if online transaction failed but money debited?

If the transaction failed, the money will be reversed back to your account. … As it requires the bank to manually settle the funds, allow 7 working days for the amount to get reversed to your bank account.

Does Neft work 24 hours?

From December 16, 2019, you can transfer money online using the National Electronic Funds Transfer (NEFT) route 24×7, i.e., any time of the day and any day of the week.

Is there any charge for IMPS transfer in Axis Bank?

Axis bank charges Rs 2.50 + GST for IMPS transactions up to Rs 1,000, and Rs 5 + GST for transactions between Rs 1,000 and Rs 1 lakh. For transactions above Rs 1 lakh to Rs 2 lakh, the bank charges Rs 15 + GST, as mentioned on the Axis Bank’s website.

What is the charge for IMPS transfer?

Benefits of IMPSTransfer AmountCharges (Subject to Change According to Banks)Up to Rs. 10,000Rs. 2.50 + Applicable GSTFrom Rs. 10,000 to Rs. 1 lakhRs. 5 + Applicable GSTFrom Rs. 1 lakh to Rs. 2 lakhRs. 15 + Applicable GSTRs. 2 lakh and AboveRs. 25 + Applicable GST or No ChargeOct 6, 2020

Can I transfer 4 lakh through IMPS?

Transfers up to Rs 2 lakhs to Other Bank Accounts are done through IMPS (Immediate Payment Service) which is real-time and available 24×7 including Sundays and bank holidays. Transfers greater than Rs 2 lakhs and up to Rs 10 lakhs to Other Bank Accounts are done through NEFT (National Electronic Funds Transfer).

How many imps can be done in a day?

Fund transfer limit through IMPS is Rs 2 lakh per day. The minimum allowed transaction value is Re 1.

Is Neft free in Axis Bank?

The NEFT service is provided to all the customers. And there are no charges for NEFT transactions initiated online via Axis Bank’s internet banking or mobile banking.

What is IMPS transfer limit?

Amount: The maximum amount that can be transferred through IMPS is ₹ 2 lakh. However, there is no prescribed limit for the minimum amount allowed to make an IMPS transaction.

Is imps free in Axis Bank?

No, Axis Bank does not charge any fees for IMPS transfers through multiple channels.

How can I transfer money through IMPS in Axis Bank?

How to transfer funds using Axis Bank IMPS?Login to your Axis Bank net banking portal or Axis mobile banking app.Click on “Funds Transfer” and select IMPS fund transfer method.Choose “IMPS using MMID” or “IMPS using IFSC code”Enter the amount for transfer and click on confirm.

Is IMPS transfer safe?

IMPS is safe, secure and cost-effective. IMPS has no minimum amount limit on transactions of funds. IMPS is available for 24 hours in a day and even on holidays. The customer can make intrabank as well as interbank payments.

Which is faster imps or Neft?

RTGS is comparatively expensive, while NEFT and IMPS are less so. Transaction speed: NEFT has fixed batch time slots and can take around 2 hours for the recipient to receive the funds, whereas RTGS and IMPS transfers take place in real time and are usually complete within minutes.

Is IMPS transfer free?

NEW DELHI: In order to encourage digital transactions, the Finance Ministry today asked PSU banks to restrict fees on payments through IMPS and UPI to the extent that is applicable for NEFT fund transfer of over Rs 1,000. … IMPS is an interbank electronic instant mobile money transfer service through mobile phones.