Immediate Payment Service (IMPS)
FAQs for Customers:
  1. What if IMPS registered mobile is lost or misplaced? Will anyone who comes into possession of mobile be able to make a remittance from customer’s account?
    After successful registration for Mobile banking at Nainital Bank's Branch the customer gets MPIN (Mobile Personal Identification Number) and MMID for accessing the mobile banking facility. An IMPS remittance will not be possible without these two inputs.

  2. 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.

  3. 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.

  4. If the transaction is not completed will the customer get his / her money back? When?
    Yes. In case for any reason, technical or business, the IMPS transaction is not completed the reversal of the remitters funds will happen immediately. In case if such a transaction becomes a subject to reconciliation wherein the status of transaction is not determined immediately, the reversal of funds will happen on the next working day.

  5. 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.

  6. 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.

  7. Is it necessary to have sufficient account balance to initiate a remittance?
    Yes, the customer should have sufficient account balance to initiate a fund transfer.

  8. Is it necessary to have a minimum balance to receive funds through IMPS?
    This will be decided by the beneficiary bank.

  9. How does the remitter come to know that his account is debited and funds have been credited in the beneficiary’s account ?
    The bank sends a confirmation SMS to the remitting customer about the transaction initiated by him / her.

  10. How does a beneficiary come to know of funds being credited to his / her banks account?
    The bank sends a confirmation SMS to the beneficiary customer informing him / her of the credit in the account.

  11. 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 mobile banking.

  12. 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.

  13. Are all banks offering IMPS?
    The updated list of banks offering IMPS is available in IMPS website www.npci.org.in.

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