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Snapshot of Axis Bank NEFT RTGS IMPS Services

Axis Bank Neft Rtgs Imps
Type of TransferNEFTIMPSRTGS

Speed of settlement

Half hourly

Real-Time

Real-Time

Maximum Transfer Value

No Limit

Rs. 2,00,000

No Limit

Minimum Transfer Value

No Limit

No Limit

Rs. 2,00,000

Charges

  • Up to Rs.10,000 - Rs.2.50
  • Above Rs.10,000 to Rs.1 lakh - Rs.5
  • Above Rs.1 lakh to Rs.2 lakhs - Rs.15
  • Above Rs.2 lakhs - Rs.25
  • Up to Rs. 1,000 – Rs. 2.50
  • Rs. 1,000 to Rs. 1 lakh – Rs. 5 
  • Rs. 1 lakh to Rs. 2 lakhs – Rs. 15

No Charges

Timing

24x7, 365 Days

24x7, 365 Days

7 am IST - 6 pm IST (On weekdays and working Saturdays)

IMPS Through Axis Bank

Axis Bank IMPS or Immediate payment service is the inter-banking fund transfer facility that allows real-time fund transfer from Axis Bank to other banks. Here are the details of these services:

Axis Bank IMPS Transfer Modes

Offline- ATM
Online- Mobile/ Net Banking

Axis Bank Fund Transfer Limit

Rs. 2 Lakhs

Axis Bank Fund Transfer Charges

Mobile and Internet Banking:

Up to Rs. 1,000 – Rs. 2.50

Rs. 1,000 to Rs. 1 lakh – Rs. 5 

Rs. 1 lakh to Rs. 2 lakhs – Rs. 15

Axis Bank Fund Transfer Timings

24*7

What is Axis Bank’s Immediate Payment Service?

Axis Bank’s Immediate Payment Service or IMPS is a real-time fund transfer mechanism that allows funds to be transferred from Axis Bank to another bank. This service was initially started for mobile phones and has now been extended to net banking as well as ATM. Customers who want to transfer money through Axis Bank IMPS need to provide the recipient's account number and IFSC or Aadhaar number. Customers can also make payments through IMPS using a Mobile Money Identification Number (MMID) and mobile number.

What are Axis Bank’s IMPS Charges?

If you are making payments through Axis Bank IMPS, the beneficiary does not have to pay any transfer charges to receive money through IMPS; however, you will have to bear the charges as mentioned below:

Transaction TypeIMPS Charges

Mobile and Internet Banking

Up to Rs. 1,000 – Rs. 2.50

Rs. 1,000 to Rs. 1 lakh – Rs. 5 

Rs. 1 lakh to Rs. 2 lakhs – Rs. 15

Bank Branch

-

How to Register for Axis Bank IMPS?

Customers who want to make payments receive payments, transfer funds from one account to another through Axis Bank IMPS must have a mobile banking/net banking account. Here is the registration process for the same:

  • Customers can apply for the registration at the time of opening a new Axis Bank account and they can receive the 7-digit MMID after completing registration.
  • Customers can also generate MMID through the mobile application, SMS or by calling Axis Bank customer care.
  • After successful registration for mobile banking and getting an MMID, customers can download the mobile application or log in to their net banking account.

How to Get MMID for Axis Bank IMPS?

MMID or Mobile Money Identification Number is a 7-digit number required for transferring funds using the IMPS mode from one bank account to another. This can be done through mobile banking or net banking. Here are the steps to get MMID from Axis Bank:

  • At the time of opening an Axis Bank account, customers can request mobile banking registration and receive an MMID number for initiating or receiving payments.
  • MMID can also be generated using Axis Bank mobile banking account at the time of logging in to the account.
  • An MMID number can also be generated by requesting Axis Bank customer care or by sending a request through SMS.
  • MMID can also be availed through an ATM. For generating MMID, customers need to swipe their Axis Bank credit/debit card, choose mobile registration and follow the steps to complete the process.

How to Transfer Money Using Axis Bank IMPS via ISFC?

For transferring money using Axis Bank IMPS, here are the steps to be followed:

  • A customer must first log in to his/her account on the Axis Bank portal
  • The next step is to click on Payments Transfer and 'Fund Transfer' to proceed to 'IMPS Funds Transfer'.
  • Select the 'Person to Account' option and click Proceed.
  • Add beneficiary details like name, account number, IFSC code, etc
  • Enter the amount required to be transferred and click on the Submit button.
  • Verify all the details and click Confirm.
  • Finally, the mobile-based OTP authentication has to be used for approving the transaction.

How to Transfer Funds Using Axis Bank IMPS through MMID?

For transferring money using Axis Bank IMPS through MMID, here are the steps to be followed:

  • Login to the Axis Bank portal with the appropriate user name and password.
  • Click on Payments Transfer and 'Fund Transfer'. Next click on 'IMPS Funds Transfer'.
  • Select the 'Person to Person' option and click Proceed.
  • Enter the MMID and mobile number.
  • Provide the amount that needs to be transferred and click on the Submit button.
  • Verify all the details and click on Confirm.
  • OTP authentication must be used to approve the transaction.

How to Add Payee for Axis Bank IMPS?

For adding a beneficiary/payee for Axis Bank IMPS fund transfer customers can follow the below-mentioned steps:

  • Log in to the Axis Bank portal.
  • Under the profile tab, go to 'Manage Beneficiary' and click on 'IMPS Beneficiary'.
  • Enter the payee’s name, MMID number, country, mobile number and select the 'Submit' option.
  • As the last step, one can approve the details of the payee by using mobile-based OTP verification.

What are the Benefits of Axis Bank IMPS?

Some of the key benefits to be availed from Axis Bank’s IMPS fund transfer facility are:

  • Instant service: Unlike other modes of fund transfer, Axis Bank IMPS transactions are not settled batch-wise and the transferred funds can reach the payee instantly.
  • 24*7: Customers can use Axis Bank IMPS transactions on a 24/7 basis, including bank holidays. It allows convenience to initiate fund transfers from anywhere and at any time.
  • Multiple channels: Axis Bank IMPS transactions can be initiated through various channels such as internet banking, mobile banking and ATM facility.
  • SMS-based verification: Transactions made through Axis Bank IMPS are safe and secure. All transactions made through IMPS receive mobile-based confirmation.

What are Axis Bank IMPS Timings?

Customers can transfer funds 24*7 through the Axis Bank IMPS facility at any time unlike other modes of fund transfers. This facility is available for both IMPS Inward and Outward transactions.

NEFT Through Axis Bank

Axis bank has a wide range of fund transfer options for its customers. One of them is the National Electronic Fund Transfer, commonly known as NEFT. This facility is available for all Axis bank customers. NEFT services can be availed by requesting an internet banking username and password from the bank. To process NEFT transactions, customers need to have the correct IFSC code. ISFC code is the Indian Financial System Code.

How to Transfer Funds Through Axis Bank NEFT Services?

  • Login to Axis Bank internet banking by entering the correct username and password
  • Visit the ‘Transfer Funds’ option and choose ‘Other Bank Account’ 
  • Provide all relevant details including the name of the payee, account details and IFSC code
  • Verify details before clicking on save
  • A confirmation message will be sent via SMS to the registered mobile number

How to Register a Beneficiary in Axis Bank

  • Login to Axis Bank internet banking by providing the correct username and password
  • Enter beneficiary details under the ‘Other Bank Account’ option
  • Within the beneficiary, details enter the beneficiary name, account number, IFSC code, branch name
  • Users must choose the ‘accept conditions’ options and hit the ‘Submit’ button
  • The next step is to verify beneficiary details by entering login id, transaction password, and then click the ‘Submit’ button
  • Click the option ‘Activate Beneficiary’ to complete the process

How to Pay Credit Card Bill Through Axis Bank NEFT

  • Login to Axis Bank internet banking by entering the correct username and password.
  • Add the beneficiary.
  • Go to the ‘Transfer Funds’ option and choose the ‘Other Bank Account’ option.
  • Fill in details as mentioned in the table below
Payee nameName as on credit card

Payee bank name

Name of credit card issuing bank

Branch name

Branch of credit card issuing bank

Account number

The 16-digit credit card number

IFSC code

UTIB0000400 (example)

  • Verify details
  • A confirmation message is sent via SMS

What Details are Required for Initiating NEFT Transaction

  • The 16-digit beneficiary account number
  • Payee name
  • IFSC code

What are Axis Bank NEFT Charges?

Transaction amountTransaction fee

Up to Rs.10,000

Rs.2.50

Above Rs.10,000 to Rs.1 lakh

Rs.5

Above Rs.1 lakh to Rs.2 lakhs

Rs.15

Above Rs.2 lakhs

Rs.25

What are the Timings For Axis Bank NEFT?

Axis Bank NEFT transactions are processed during the working hours of the bank from Monday to Saturday. NEFT services are not available on Sundays and bank holidays.

What are the Benefits of Axis Bank NEFT

  • The services are easy to use and reliable
  • NEFT transactions can be conducted in a hassle-free manner
  • Transactions are backed by RBI
  • Minimal transaction charges make for an economical option as compared to other types of fund transfer systems
  • Comparatively risk-free process. In case funds do not get transferred, these are credited back to the account holder as per the bank’s procedure

What are the Limitations of Axis Bank NEFT?

  • NEFT transfer is available for processing only during the working hours of the bank
  • NEFT facilities cannot be availed during bank holidays and weekends
  • NEFT is slower as compared to Immediate Payment Service (IMPS), in which funds get transferred immediately

RTGS Through Axis Bank

Axis Bank RTGS or Real Time Gross Basis is the inter-banking fund transfer facility that allows customers to transfer funds instantly on a one-to-one basis.

Transfer Modes

Offline- Visiting Axis Bank branch
Online- Mobile/ Net Banking

Transfer Limit

Net Banking- Nil
Bank Branch - No limit

Transfer Charges

Net Banking- Nil
Bank Branch - Nil

Transfer Timings

7 AM to 6 PM on weekdays

What is Axis Bank RTGS?

Axis Bank RTGS or Real Time Gross Settlement is the fund transfer facility offered by Axis Bank. It allows fund transfer from Axis bank to another bank on a real-time or gross basis. The term 'Real-time' indicates that payment is done instantly without delay. The gross settlement indicates that money is transferred on a one-to-one basis. To transfer money through Axis Bank RTGS, customers need to provide the following details of the recipients:

  • Amount to be transferred
  • Account number
  • Recipient name and bank name
  • Recipient’s IFSC code

How to fill Axis Bank RTGS Form & Transfer Money through Axis Bank RTGS Offline?

Mentioned below are the steps to be followed for online transfer of money through Axis bank RTGS facility:

  • Customers must visit the nearest Axis Bank branch and request the RTGS form
  • Customers have to fill in all the required details including date, the amount for fund transfer, etc in the form
  • Adding account details, details of the cheque, IFSC code of the beneficiary, etc are some important steps to be followed
  • Sign the form to authorize the payment. The payment will then be processed according to the details provided by the customer

How to Transfer Funds Through Axis Bank RTGS Net Banking Online?

For transferring money through Axis Bank RTGS Net Banking online, customers must follow the below-mentioned steps:

  • Log in to Axis bank Net Banking Portal by using the relevant User Name and Password.
  • Under the "Payments/Transfer" tab, select the appropriate fund transfer option – RTGS.
  • The next step is to choose the type of transaction and click on "Proceed".
  • Select the account from which the funds have to be transferred.
  • Enter the correct amount, the purpose of the fund transfer and select beneficiary account for processing the fund transfer.
  • After carefully verifying all the details, select the terms and conditions box and click on "Submit".
  • Verify all the details and click on "Confirm".
  • Enter the password or OTP sent to the registered mobile number and click on "Confirm".
  • The customer will receive the confirmation message on the screen and an SMS to confirm transaction completion.

What are Axis Bank RTGS Charges?

Axis Bank does not levy any charges for fund transfer through its RTGS facility.

What are Axis Bank RTGS Timings?

To ensure that the fund transfer transactions are processed immediately through Axis Bank RTGS, it is important to ensure that the transaction is executed within the time frame as mentioned below:

Mobile & Internet Banking

7 AM to 6 PM on weekdays

What is Axis Bank RTGS Limit?

Axis Bank RTGS transactions are mainly high-value transactions. The limit for Axis Bank RTGS fund transfer is as provided in the table below:

Minimum Amount

Rs. 2 Lakhs

Maximum Amount

Nil

FAQs

1. Can we do RTGS online Axis Bank?

Axis Bank allows an RTGS service window for online channels between 07.00 hours to 17:45 hours on weekdays and working Saturdays. RTGS transactions can be initiated 24x7 through the bank’s Retail Internet Banking and Corporate Internet Banking.

2. How can I pay through RTGS in Axis Bank Online?

For using the RTGS facility of Axis bank, here are the steps to be followed while using it online:

  • Go to the Axis Bank web portal and use the correct username and password
  • Click on the ' Transfer Funds' option.
  • Navigate to the 'Other Bank Account' tab and choose 'Make Payment' under the transfer funds option.
  • Select RTGS and enter details such as beneficiary name, amount, IFSC code, etc.
  • Process the fund transfer after entering the One Time Password and Transaction password.

3. What is the difference between imps NEFT and RTGS?

NEFT is available for fund transfer 24x7, while RTGS can only be executed during the bank’s working hours. The amount of money that can be transferred through NEFT is different from RTGS because RTGS is mainly meant for large scale transactions and NEFT transfer does not require a minimum amount.

4. Are there any charges for NEFT transaction in Axis Bank?

Here are the charges applicable for NEFT services of Axis Bank:

  • Up to Rs.10,000 - Rs.2.50
  • Above Rs.10,000 to Rs.1 lakh - Rs.5
  • Above Rs.1 lakh to Rs.2 lakhs - Rs.15
  • Above Rs.2 lakhs - Rs.25

5. Which is better NEFT or IMPS at Axis Bank?

IMPS transfer funds instantly into the beneficiary's account. The beneficiary's bank gets half an hour to credit and reflects the transferred funds to the payee. NEFT, on the other hand, has a net and batch fund transfer process. NEFT transfer system makes payments in batches and may therefore have a longer waiting time as compared to IMPS.

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