Remittances & Fund Transfers - India Post Payments Bank
Remittances & Fund Transfers
India Post Payments Bank (IPPB) customers can choose from a variety of payment options to transfer money to their family and relatives.
Customers can enjoy IPPB’s economic and hassle-free services for sending money anywhere, anytime, across India.
Immediate Payment Service or IMPS
IMPS is an electronic fund transfer service for transferring money to any receiver having an account in any other bank. IMPS facility is available 24x7 and the money is credited immediately. Hence, customers can use this facility to receive or send money any time, even during holidays.
IMPS services can be availed through IPPB’s mobile banking application or by visiting the respective access point (Post Office) counters or by using our Doorstep banking services.
National Electronic Fund Transfer or NEFT
National Electronic Funds Transfer (NEFT) is a nation-wide payment system that facilitates funds transfer. Under this facility, IPPB account holders can electronically send money to any individual, firm or corporate that has an account with any other bank branch in the country, participating with NEFT using account number + IFSC .
NEFT services can be availed through IPPB’s mobile banking application, or by visiting the respective access point (Post Office) counters, or by using our Doorstep banking services.
Real Time Gross Settlement or RTGS
IPPB also offers RTGS facility for high-value transactions; above Rs. 2 lakhs. Customers can transfer and receive money via RTGS, using their account number and IFSC code. RTGS services can be availed using IPPB’s Mobile banking app. These services are also available at selected access points (post offices).
Assisted UPI at Doorstep and Counters
IPPB has introduced the facility to all its customers to be able to send and receive payments through the Unified Payments Interface (UPI). To enable this facility, the capability of making UPI payments in an assisted model has been provided through our Micro ATM and CBS applications, which is a first of its kind in India.
IPPB’s Assisted UPI enables the customers to transact using UPI without the need to download any UPI app or register through a debit card. Each customer would be issued a default Virtual Payment Address (VPA) id to enable them to send payments through the assisted UPI platform. The VPA would be generated for each customer through a batch generation process along with the account opening and will be communicated through SMS on the same day
Aadhaar Enabled Payment System or AePS
Aadhaar Enabled Payment System (AEPS) is a payment service that allows a bank customer to use Aadhaar as his/her identity to access his/her Aadhaar enabled bank account and perform basic banking transactions like balance enquiry, cash withdrawal, remittances through a Business Correspondent.
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