Is there any limit on the value of transactions in IMPS? Please give some examples.


Mr. Richard a user of internet banking with transaction rights wishes to transfer money to Mr. Junior using IMPS


DateActivityAmount Limitation
Sep 1Richard added and activated Junior as IMPS beneficiaryRs. 1,00,000 can be transferred to Junior on the day of activation of the beneficiary.
Sep 2 - 4Junior in cooling periodA total sum of Rs.1,00,000 can be transferred to Junior during the period from Sep 1 to Sep 4.
Sep 6Junior out of cooling periodEvery day of Rs. 2,00,000/- can be transferred to Junior, provided the total amount transferred on any given day by Richard through IMPS does not exceed Rs.2,00,000/-

How I can remit money using IMPS through OnlineSBI?
What beneficiary details the customer requires to effect an IMPS remittance from Person to Person?
What beneficiary details the customer requires to effect an IMPS remittance from Person to Account?
What are the restrictions for activation of a beneficiary added by a user?
Is there any limit on the value of transactions in IMPS? Please give some examples.
How can a user remit money by using IMPS?
What happens in case the remitter enters wrong beneficiary details for remittance?
What are the timings for initiating and receiving IMPS remittances?
If the transaction is not completed, will the customer get his / her money back? When?
What are the charges for the customer for sending and receiving remittances using IMPS?
Are there any subscription charges for the customers to avail this facility?
How long does it take for the remittance to be credited into the beneficiary account number?
Is it necessary to have sufficient account balance to initiate a remittance?
How does the remitter come to know that his account is debited and funds have been credited to the beneficiary's account
How does a beneficiary come to know of funds being credited to his / her bank's account?
Can a customer receive remittance using the mobile number other than the one registered with the bank?
When can the beneficiary use the funds received through IMPS?
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