Can I access IMPS services if I do not have a savings account with a bank?

No, to access IMPS (Immediate Payment Service) services, it is generally required to have a savings account with a bank. IMPS is a service provided by banks in India that allows their customers to make instant and secure funds transfers between bank accounts.

To use IMPS, you need to have an active savings account with a bank that offers IMPS services. During the registration process for a savings account, you will typically be provided with access to mobile banking, internet banking, or other banking channels through which you can initiate IMPS transactions.

If you do not have a savings account with a bank, you may not be able to directly access IMPS services. However, there are alternative options you can consider:

1. Open a Savings Account: If you do not have a savings account, you can approach a bank of your choice and inquire about opening a savings account. The bank will guide you through the account opening process, and upon successful account activation, you will be able to access IMPS services.

2. ThirdParty Wallets or Payment Apps: There are various thirdparty mobile wallets and payment apps available in India that allow you to transfer funds and make payments digitally. While these platforms may not provide the exact IMPS functionality, they offer similar instant money transfer services within their network. Examples of such platforms include Paytm, PhonePe, Google Pay, and other popular digital payment providers.

It's important to note that the specific procedures, features, and services offered by these thirdparty platforms may vary, and they may have their own registration and usage requirements. Therefore, it's advisable to review the terms and conditions and understand the services offered by these platforms before using them for fund transfers.

Remember, having a savings account with a bank is the primary and most direct way to access IMPS services in India. If you are interested in using IMPS, it's recommended to approach a bank and inquire about opening a savings account with them. They will provide you with the necessary guidance and account opening procedures.