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Can I use IMPS to transfer money to a person who is not registered with IMPS?

Curious about Immediate Payment Service

Can I use IMPS to transfer money to a person who is not registered with IMPS?

No, you cannot use IMPS (Immediate Payment Service) to directly transfer money to a person who is not registered with IMPS in India. IMPS transactions require both the sender and the recipient to have active IMPSenabled accounts with participating banks.

To transfer money using IMPS, you need to know the recipient's bank account number, the bank's Indian Financial System Code (IFSC), or other identifiers specific to IMPSenabled accounts. These details are essential to initiate the transfer and ensure that the funds reach the intended recipient's account securely.

If the person you want to send money to is not registered with IMPS, they will need to have an account with a participating bank and activate IMPS services to receive funds through this channel. They can contact their bank to inquire about IMPS registration and activation processes.

However, there are alternative methods available for transferring money to individuals who are not registered with IMPS. These options include:

1. Other Electronic Funds Transfer (EFT) Services: You can explore other electronic funds transfer services, such as NEFT (National Electronic Funds Transfer) or RTGS (RealTime Gross Settlement), which allow you to transfer funds to accounts in participating banks. These services often have different processing times and transaction limits compared to IMPS.

2. Mobile Wallets: Mobile wallet services like Paytm, PhonePe, or Google Pay offer persontoperson (P2P) transfer functionality, allowing you to send money to individuals who have registered accounts with those specific mobile wallet platforms. Both the sender and the recipient need to have accounts with the same mobile wallet service.

3. Cheques or Demand Drafts: Traditional methods like issuing a cheque or a demand draft can be used to transfer money to individuals who are not registered with IMPS or other electronic transfer services. The recipient can deposit the cheque or demand draft into their bank account.

Before initiating any money transfer, it's important to verify the accuracy of the recipient's account details, such as bank account number and IFSC code, to ensure the funds reach the intended recipient without any issues.

It's recommended to consult your bank for specific options available to transfer money to someone who is not registered with IMPS and to understand the alternative services provided by your bank for such transfers.

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