IMPS (Immediate Payment Service) is the NPCI system that made instant, 24×7 bank transfers possible in India, years before UPI. It settles in seconds and supports amounts up to ₹5 lakh.
Two ways to send with IMPS
- Account number + IFSC: the usual method, same details as NEFT and RTGS.
- Mobile number + MMID: an older, app-free method using a 7-digit code.
What is MMID?
MMID (Mobile Money Identifier) is a 7-digit code issued by your bank that, combined with your registered mobile number, identifies your account for IMPS. It let people send money using just a phone number and MMID — an early version of what UPI later made effortless. You can generate your MMID from your bank app or by SMS.
Limits and charges
- Maximum: up to ₹5 lakh, set by your bank.
- Charges: typically ₹2.50 to ₹15 depending on the amount — small, but unlike NEFT and RTGS, IMPS is not always free.
- Availability: instant, 24×7.
IMPS vs UPI
Both are instant and run by NPCI. UPI is simpler for small everyday payments (just a UPI ID, no IFSC), while IMPS handles larger amounts up to ₹5 lakh. See NEFT vs IMPS and the full comparison.
Frequently asked questions
What is the full form of IMPS?
IMPS stands for Immediate Payment Service, run by NPCI for instant 24x7 transfers.
What is MMID in IMPS?
MMID (Mobile Money Identifier) is a 7-digit code that, with your registered mobile number, identifies your account for IMPS transfers.
What is the IMPS limit?
Up to Rs 5 lakh per transaction, with the exact cap set by your bank.
Does IMPS charge a fee?
Often yes, a small fee of about Rs 2.50 to Rs 15 depending on the amount and bank.
Limits, charges and procedures are set by the RBI, NPCI and individual banks and can change. Always confirm current details in your own bank’s app before a transfer. Last updated June 2026.