IMPS Transfer Complete Guide: Limits, Charges, and Timings 2026
Blog by Aliceblue News Desk
10 April 2026
11 minutes
Picture this. It is Saturday night. A stock you have been watching for weeks drops to your target price. You open your Alice Blue trading account and realise your funds are short. The bank branch is closed. NEFT will not process until Monday morning.
This situation is where IMPS transfer becomes your only practical option.
IMPS stands for Immediate Payment Service. It is India’s real-time interbank transfer system that works every single day of the year, including Sundays, Diwali, and every bank holiday. Money moves in seconds, with no batch queues and no waiting periods. This guide covers everything you need to know about IMPS in 2026, including how it works, transfer limits, verified bank-wise charges, timings, and what to do when a transfer fails.
What Is IMPS?
IMPS is an instant electronic fund transfer system launched in 2010 and operated by the National Payments Corporation of India (NPCI) under the regulation of the Reserve Bank of India (RBI).
The system moves money between any two bank accounts in real time, at any hour, on any day. No dependency on banking hours. No settlement cycles.
You can initiate an IMPS transfer through:
- Mobile banking apps
- Internet banking portals
- ATMs
- SMS banking
- Bank branches (restricted to branch working hours)
What Is MMID?
MMID stands for Mobile Money Identifier. It is a 7-digit number that your bank assigns to your account when you register for mobile banking. You use it when transferring money via mobile number instead of account number and IFSC code. Each bank account gets a unique MMID.
Most people today transfer using an account number plus IFSC. The MMID route is useful when you want to receive money without sharing your full bank account details.
How IMPS Works
Here is what happens from the moment you tap Send, the moment the money lands in the recipient’s account:
- You initiate the transfer. Log in to your mobile or internet banking; select IMPS, and enter the beneficiary’s account number and IFSC code or mobile number and MMID.
- You authenticate. Confirm using your MPIN or the OTP sent to your registered mobile number.
- Your bank sends the request to NPCI. The transaction travels through the IMPS switch, a secure NPCI-managed network.
- NPCI routes the payment. It checks your balance, identifies the destination bank, and forwards the transaction instantly.
- The recipient’s bank credits the account. Funds are credited to the beneficiary within seconds.
- Both parties receive confirmation. An SMS or push notification arrives with a UTR number, which is your transaction reference. Keep this number always.
The full process completes in under 10 seconds under normal conditions.
IMPS Transfer Limits in 2026
The RBI raised the per-transaction IMPS limit to ₹5 lakh in 2021, and that cap remains unchanged in 2026. Limits can vary based on the transfer channel you use.
Transfer Channel | Minimum | Maximum Per Transaction |
Online via Mobile or Net Banking | ₹1 | ₹500,000 |
ATM-Based IMPS | ₹1 | Varies by bank |
SMS-Based IMPS | ₹1 | Varies by bank |
New Beneficiary (first 24 hours) | ₹1 | ₹25,000 to ₹50,000 (bank-specific) |
Important for traders: Most banks restrict transfers to newly added beneficiaries for the first 24 hours as a fraud prevention measure. If you add Alice Blue’s account as a new beneficiary today, you may only be able to transfer up to ₹25,000 to ₹50,000 until the cooling period ends. Add your beneficiary at least one full day before you plan to fund your account.
IMPS Charges: Verified Bank-Wise Breakdown for 2026
SBI IMPS Charges (Verified, Updated 2026)
SBI’s charges depend entirely on whether you transfer online or at a branch.
Online IMPS (YONO App, YONO Lite, Net Banking): Completely free for all amounts up to ₹5 lakh.
Branch-Based IMPS at SBI:
Transaction Amount | Charge |
Up to ₹1,000 | Free |
₹1,001 to ₹10,000 | ₹2 + GST |
₹10,001 to ₹100,000 | ₹4 + GST |
₹100,001 to ₹200,000 | ₹12 + GST |
₹2,00,001 to ₹5,00,000 | ₹20 + GST |
Other Bank IMPS Charges (Online Transfers)
Bank | Minimum Charge | Maximum Charge |
HDFC Bank | ₹3.50 + GST | ₹15 + GST |
ICICI Bank | ₹2.50 + GST | ₹15 + GST |
Axis Bank | ₹2.50 + GST | ₹10 + GST |
Kotak Mahindra Bank | Free | Free |
PNB | Free | ₹10 + GST |
Canara Bank | Free | ₹20 + GST |
Bank of Baroda | ₹1 + GST | ₹5.50 + GST |
IDFC First Bank | Free | Free |
IDBI Bank | Free | ₹15 + GST |
Yes Bank | Free (app) | ₹5 + GST (net banking) |
Bank of India | Free | ₹5 + GST |
GST note: 18% GST applies on top of the base charge wherever GST is mentioned. So a ₹20 fee becomes ₹23.60 after GST.
Practical advice for Alice Blue users: If you are on SBI and transfer online, your IMPS transfers to your trading account are completely free, regardless of the amount. If you are on HDFC or ICICI, transfers under ₹1,000 attract a nominal fee. Plan your transfer amounts accordingly.
IMPS Timings
Online IMPS runs 24 hours a day, 7 days a week, 365 days a year, with no exceptions for holidays or weekends.
Here is an important distinction that most guides skip:
- Online IMPS via mobile or net banking: Available at all hours, every day.
- Branch-based IMPS: Available only during the branch’s working hours, typically 9 AM to 5 PM on working days.
- ATM-based IMPS: Available when the ATM is operational.
For equity traders using Alice Blue, online IMPS is the relevant route. You can top up your account at any time, including Sunday at midnight before Monday’s 9:15 AM market open.
A Real Example
Arjun is a beginner investor in Pune. He has been tracking a mid-cap stock that has fallen for three straight weeks. On Sunday evening, the stock hit ₹340, which is his target entry price.
His Alice Blue account has ₹8,000. He wants to invest ₹30,000. He opens his bank app, selects IMPS, enters Alice Blue’s bank account number and IFSC code, types ₹22,000, and confirms with his MPIN. The money reflects in his Alice Blue account in under 30 seconds. He places a buy order for 88 shares at ₹340 to execute at Monday’s market open.
Had he waited to fund via NEFT on Monday morning, the stock had already moved up 4% before he could act.
Advantages of IMPS
Speed that actually matters for traders
IMPS is the only interbank transfer method that combines real-time processing with round-the-clock availability. NEFT operates in batches and can take up to 30 minutes even today. RTGS is real-time but requires a minimum of ₹2 lakh. IMPS has no minimum floor and no timing restrictions.
Low cost for most transfers
SBI’s online IMPS is free for all amounts. At HDFC and ICICI, charges are nominal, rarely exceeding ₹15 for amounts up to ₹5 lakh. Kotak and IDFC First charge nothing at all.
Two ways to transfer
You can send money using the account number plus IFSC code or using just a mobile number plus MMID. The second option lets you receive money without exposing your full banking details.
Supported by over 700 banks
IMPS works across virtually all major public sector banks, private banks, regional rural banks, cooperative banks, and payment banks in India.
Limitations of IMPS
₹5 lakh cap per transaction
If you need to move more than ₹5 lakh in a single transfer, IMPS cannot do it. You would need to split it into multiple transactions or switch to RTGS.
New beneficiary cooling period
Most banks restrict how much you can transfer to a newly added beneficiary in the first 24 hours. This catches many traders off guard when they try to fund a new account urgently.
Branch IMPS is not truly round-the-clock
The 24×7 availability applies only to online IMPS. Branch-based transfers are restricted to working hours.
No name verification before processing
IMPS does not verify the beneficiary’s name before processing the transaction. If you enter the wrong account number but the correct IFSC, the money may reach the wrong person. Recovery is possible but slow.
Rare but possible technical failures
During NPCI maintenance or unexpected system issues, transfers can fail or time out. The reversal may take up to 5 working days in such cases.
What to Do When an IMPS Transfer Fails
This is one of the most searched questions about IMPS, and most guides give it one line. Here is what actually happens and what you should do:
When a transfer fails, either the amount was debited but not credited to the recipient, the transaction is stuck in pending status, or the failure happened before your account was debited.
Step 1: Note your UTR number. Every IMPS transaction generates a Unique Transaction Reference number. This is your proof of transfer. Find it in your transaction history or confirmation SMS.
Step 2: Wait 30 minutes. Many apparent failures resolve on their own. Bank systems can show a lag between processing and display.
Step 3: Contact your bank with the UTR number. If the amount was debited and not credited after 30 minutes, call or message your bank and quote the UTR number.
Step 4: Know the RBI timeline. If the transaction failed after debiting your account, the RBI requires your bank to reverse the amount within 5 working days. If they do not, please consider escalating the matter to the RBI Banking Ombudsman.
For Alice Blue account funding, always save your UTR number so you can trace any delays with your bank.
IMPS vs NEFT vs RTGS vs UPI
Feature | IMPS | NEFT | RTGS | UPI |
Full Form | Immediate Payment Service | National Electronic Funds Transfer | Real-time gross settlement | Unified Payments Interface |
Speed | Instant | Up to 30 minutes | Instant | Instant |
Minimum Amount | ₹1 | ₹1 | ₹200,000 | ₹1 |
Maximum Amount | ₹500,000 | No limit | No limit | ₹1 to ₹5 lakh (app-specific) |
Availability | 24×7, 365 days | 24×7 | 24×7 | 24×7 |
Charges | Free to ₹20 + GST | Free to ₹25 + GST | ₹20 to ₹50 + GST | Free |
Identifier | Account no. + IFSC or MMID | Account no. + IFSC | Account no. + IFSC | UPI ID or QR code |
Best For | Urgent transfers under ₹5 lakh | Scheduled, larger payments | High-value corporate transfers | Small daily payments |
Use IMPS when you need to fund your trading account urgently, and the amount is under ₹5 lakh. Use UPI for everyday small payments and bill splitting. Use NEFT for scheduled or recurring payments where timing is not critical. Use RTGS when transferring above ₹2 lakh in one shot, and you need instant settlement with no upper cap.
Common Mistakes Beginners Make with IMPS
Typing account details too fast
IMPS processes transfers based on the account number and IFSC you enter, not the account holder’s name. One wrong digit and the money goes to the wrong account. Verify twice before confirming.
Not planning for the beneficiary cooling period
Many beginners add a new account and try to transfer a large amount on the same day. Most banks block or cap these transfers for the first 24 hours. Add your beneficiary one day before you plan to fund your account.
Transferring the exact balance without accounting for charges
If your account holds ₹50,000 and you try to send ₹50,000 via IMPS at a bank that charges fees, the transaction may fail due to insufficient balance after the fee is deducted. Leave a small buffer or use SBI or Kotak, where online IMPS is free.
Panicking over a failed transfer
Money does not disappear in IMPS. If a transaction fails after your account is debited, the amount returns within 5 working days. Save the UTR number and contact your bank calmly.
Splitting large transfers to bypass the ₹5 lakh cap
Some beginners initiate multiple IMPS transactions to get around the limit. This means paying multiple transaction fees unnecessarily. For amounts above ₹5 lakh, use RTGS instead.
Who Should Use IMPS
IMPS works best for:
- Equity traders who fund their accounts before the market opens, especially on mornings after weekends or holidays
- Beginner investors making their first deposit to a Demat account
- Anyone who needs to send money on a bank holiday or after business hours
- Small business owners settling same-day payments
- SIP investors who need to fund accounts before a cutoff time
IMPS is not the right choice for:
- Transfers above ₹5 lakh per transaction (use RTGS)
- Situations where timing is not critical, and the amount is large (NEFT has no upper cap)
- Anyone without internet access or a registered mobile number linked to their bank account
IMPS is the most practical tool for anyone who needs to move money in India without waiting for banking hours or holiday restrictions. The ₹5 lakh per transaction limit, instant settlement, and 24×7 availability cover the needs of most individual investors and traders completely.
For Alice Blue users specifically, knowing how IMPS works means you never miss a market opportunity because your account is short on funds. Add your beneficiary in advance, understand your bank’s cooling period, and always save your UTR number when you transfer.
Ready to start investing? Open your Alice Blue account and fund it instantly via IMPS, any time, any day.
Frequently Asked Questions
Blog by Aliceblue News Desk
