{"id":1278340,"date":"2024-01-30T11:52:26","date_gmt":"2024-01-30T06:22:26","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1278340"},"modified":"2024-01-30T11:52:47","modified_gmt":"2024-01-30T06:22:47","slug":"no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/","title":{"rendered":"No IFSC Code, Account No. Needed For Online Money Transfer Under Rs 5 Lakh: Only Mobile Number, Bank Name Needed"},"content":{"rendered":"\n

The National Payments Corporation of India (NPCI) has announced a useful upgrade to the popular IMPS money transfer platform from February 1st. Customers will no longer need beneficiary account details like bank a\/c number, IFSC code to send or receive funds via IMPS channels, under Rs 5 lakh<\/a>.<\/p>\n\n\n\n

\"No<\/figure>\n\n\n\n

Simply entering the receiver’s mobile number appended with their bank name will now enable successful P2P transactions on IMPS via mobile apps, SMS, IVRS platforms and more. NPCI has directed member banks to ensure compliance by January 31st.<\/p>\n\n\n\n

Addresses Multiple Account Scenario<\/strong><\/p>\n\n\n\n

For situations where multiple accounts are linked to the beneficiary mobile number provided, their bank will by default credit the primary account on file based on previous user consent. If no consent designating a main account is available, banks will decline the IMPS transaction attempt.<\/p>\n\n\n\n

This new process effectively tackles the common scenario of recipients having savings as well as current accounts that use the same registered phone number for banking. The simplified input also quickens the funds transfer process through reduced fields.<\/p>\n\n\n\n

Step-by-Step Guide for Sending Money<\/strong><\/p>\n\n\n\n

Here is how to send funds via IMPS using just mobile number and bank name:<\/p>\n\n\n\n

    \n
  1. Open your banking app and select Funds Transfer<\/li>\n\n\n\n
  2. Choose IMPS option<\/li>\n\n\n\n
  3. Input receiver’s mobile number and bank name<\/li>\n\n\n\n
  4. Enter transfer amount and MPIN<\/li>\n\n\n\n
  5. Confirm details and submit<\/li>\n\n\n\n
  6. Enter the OTP received to complete transaction<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    The National Payments Corporation of India (NPCI) has announced a useful upgrade to the popular IMPS money transfer platform from February 1st. Customers will no longer need beneficiary account details like bank a\/c number, IFSC code to send or receive funds via IMPS channels, under Rs 5 lakh. Simply entering the receiver’s mobile number appended […]<\/p>\n","protected":false},"author":30,"featured_media":1278348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[4547,4548,4546],"class_list":["post-1278340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-imps-new-rukes","tag-imps-new-rules","tag-online-transfer"],"acf":[],"yoast_head":"\nNo IFSC Code, Account No. Needed For Online Money Transfer Under Rs 5 Lakh: Only Mobile Number, Bank Name Needed - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"No IFSC Code, Account No. Needed For Online Money Transfer Under Rs 5 Lakh: Only Mobile Number, Bank Name Needed - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"The National Payments Corporation of India (NPCI) has announced a useful upgrade to the popular IMPS money transfer platform from February 1st. Customers will no longer need beneficiary account details like bank a\/c number, IFSC code to send or receive funds via IMPS channels, under Rs 5 lakh. Simply entering the receiver’s mobile number appended […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/\" \/>\n<meta property=\"og:site_name\" content=\"Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-30T06:22:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-30T06:22:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/01\/Rs2000-Notes-Opt-1280x720-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mohul Ghosh\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mohul Ghosh\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/\",\"url\":\"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/\",\"name\":\"No IFSC Code, Account No. Needed For Online Money Transfer Under Rs 5 Lakh: Only Mobile Number, Bank Name Needed - Trak.in - Indian Business of Tech, Mobile & Startups\",\"isPartOf\":{\"@id\":\"https:\/\/trak.in\/stories\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/01\/Rs2000-Notes-Opt-1280x720-1.jpg\",\"datePublished\":\"2024-01-30T06:22:26+00:00\",\"dateModified\":\"2024-01-30T06:22:47+00:00\",\"author\":{\"@id\":\"https:\/\/trak.in\/stories\/#\/schema\/person\/5092a7d2906e3f3c819643435477c2a7\"},\"breadcrumb\":{\"@id\":\"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/#primaryimage\",\"url\":\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/01\/Rs2000-Notes-Opt-1280x720-1.jpg\",\"contentUrl\":\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/01\/Rs2000-Notes-Opt-1280x720-1.jpg\",\"width\":1280,\"height\":720},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/trak.in\/stories\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"No IFSC Code, Account No. Needed For Online Money Transfer Under Rs 5 Lakh: Only Mobile Number, Bank Name Needed\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/trak.in\/stories\/#website\",\"url\":\"https:\/\/trak.in\/stories\/\",\"name\":\"Trak.in - Indian Business of Tech, Mobile & Startups\",\"description\":\"Trak.in is a popular Indian Business, Technology, Mobile & Startup blog featuring trending News, views and analytical take on Technology, Business, Finance, Telecom, Mobile, startups & Social Media Space\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/trak.in\/stories\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/trak.in\/stories\/#\/schema\/person\/5092a7d2906e3f3c819643435477c2a7\",\"name\":\"Mohul Ghosh\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/trak.in\/stories\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/66c129d83dd3f325a3b550eb1aa16891173ddfc4686361424206cd9a01311c89?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/66c129d83dd3f325a3b550eb1aa16891173ddfc4686361424206cd9a01311c89?s=96&d=mm&r=g\",\"caption\":\"Mohul Ghosh\"},\"url\":\"https:\/\/trak.in\/stories\/author\/mohul-ghosh\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"No IFSC Code, Account No. Needed For Online Money Transfer Under Rs 5 Lakh: Only Mobile Number, Bank Name Needed - Trak.in - Indian Business of Tech, Mobile & Startups","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/","og_locale":"en_US","og_type":"article","og_title":"No IFSC Code, Account No. Needed For Online Money Transfer Under Rs 5 Lakh: Only Mobile Number, Bank Name Needed - Trak.in - Indian Business of Tech, Mobile & Startups","og_description":"The National Payments Corporation of India (NPCI) has announced a useful upgrade to the popular IMPS money transfer platform from February 1st. Customers will no longer need beneficiary account details like bank a\/c number, IFSC code to send or receive funds via IMPS channels, under Rs 5 lakh. Simply entering the receiver’s mobile number appended […]","og_url":"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/","og_site_name":"Trak.in - Indian Business of Tech, Mobile & Startups","article_published_time":"2024-01-30T06:22:26+00:00","article_modified_time":"2024-01-30T06:22:47+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/01\/Rs2000-Notes-Opt-1280x720-1.jpg","type":"image\/jpeg"}],"author":"Mohul Ghosh","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Mohul Ghosh","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/","url":"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/","name":"No IFSC Code, Account No. Needed For Online Money Transfer Under Rs 5 Lakh: Only Mobile Number, Bank Name Needed - Trak.in - Indian Business of Tech, Mobile & Startups","isPartOf":{"@id":"https:\/\/trak.in\/stories\/#website"},"primaryImageOfPage":{"@id":"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/#primaryimage"},"image":{"@id":"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/#primaryimage"},"thumbnailUrl":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/01\/Rs2000-Notes-Opt-1280x720-1.jpg","datePublished":"2024-01-30T06:22:26+00:00","dateModified":"2024-01-30T06:22:47+00:00","author":{"@id":"https:\/\/trak.in\/stories\/#\/schema\/person\/5092a7d2906e3f3c819643435477c2a7"},"breadcrumb":{"@id":"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/#primaryimage","url":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/01\/Rs2000-Notes-Opt-1280x720-1.jpg","contentUrl":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/01\/Rs2000-Notes-Opt-1280x720-1.jpg","width":1280,"height":720},{"@type":"BreadcrumbList","@id":"https:\/\/trak.in\/stories\/no-ifsc-code-account-no-needed-for-online-money-transfer-under-rs-5-lakh-only-mobile-number-bank-name-needed\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/trak.in\/stories\/"},{"@type":"ListItem","position":2,"name":"No IFSC Code, Account No. Needed For Online Money Transfer Under Rs 5 Lakh: Only Mobile Number, Bank Name Needed"}]},{"@type":"WebSite","@id":"https:\/\/trak.in\/stories\/#website","url":"https:\/\/trak.in\/stories\/","name":"Trak.in - Indian Business of Tech, Mobile & Startups","description":"Trak.in is a popular Indian Business, Technology, Mobile & Startup blog featuring trending News, views and analytical take on Technology, Business, Finance, Telecom, Mobile, startups & Social Media Space","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/trak.in\/stories\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/trak.in\/stories\/#\/schema\/person\/5092a7d2906e3f3c819643435477c2a7","name":"Mohul Ghosh","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/trak.in\/stories\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/66c129d83dd3f325a3b550eb1aa16891173ddfc4686361424206cd9a01311c89?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/66c129d83dd3f325a3b550eb1aa16891173ddfc4686361424206cd9a01311c89?s=96&d=mm&r=g","caption":"Mohul Ghosh"},"url":"https:\/\/trak.in\/stories\/author\/mohul-ghosh\/"}]}},"jetpack_featured_media_url":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/01\/Rs2000-Notes-Opt-1280x720-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/posts\/1278340","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/comments?post=1278340"}],"version-history":[{"count":1,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/posts\/1278340\/revisions"}],"predecessor-version":[{"id":1278349,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/posts\/1278340\/revisions\/1278349"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/media\/1278348"}],"wp:attachment":[{"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/media?parent=1278340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/categories?post=1278340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/tags?post=1278340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}