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Instant Money Payment System (IMPS) is one of the fastest and most reliable ways to transfer funds instantly across banks in India. If you’re using Bank of Baroda Mobile Banking (bob World), transferring money via IMPS is quick and straightforward. Follow this step-by-step guide to successfully complete an IMPS transaction.

Before initiating an IMPS transaction, ensure that the recipient’s bank account is added as a beneficiary in your bob World mobile app. For a detailed guide, click here.

What is IMPS, its Timing, and the Money Credit Process?

Instant Money Payment System (IMPS) is a real-time interbank fund transfer service that enables users to send money instantly, 24/7, including weekends and bank holidays. IMPS ensures that the beneficiary receives the credited amount within seconds, making it ideal for urgent transactions. This seamless service is not just fast but also highly secure, utilizing multi-layered authentication to safeguard your funds during transfer.

You can transfer up to 5 lakh to any bank account using IMPS money transfer. Some bank offers IMPS service free of charge while some take nominal charges.

IMPS Money Transfer on Bank of Baroda Mobile Banking

(1) Tap on the “Transfer” option on the main home screen.
This option is prominently displayed once you log in to the bob World app.

(2) Select the added beneficiary.
On the next screen, tap on the beneficiary account where you want to send money via IMPS.

(3) Tap on “Start New Transfer.”
This option allows you to initiate a fresh transfer to the selected beneficiary.

(4) Choose IMPS as the payment method.
Select IMPS as your preferred payment method to ensure an instant transfer.

(5) Enter transfer details.
On the next screen:

• Input the transfer amount.
• Select a reason for transfer in the remarks field.
• Tap on the Transfer button to proceed.

(6) Confirm the transaction.
Review the transaction details on the confirmation screen and tap on Confirm Transfer.

(7) Authenticate the transfer.
Enter your transaction PIN to authorize and complete the payment.

(8) Transaction Complete!
You will receive a confirmation message once the transfer is successful.

Why Choose IMPS for Money Transfers?

• Instant Transfers: Funds are credited to the recipient’s account instantly, even on holidays.
• Secure and Reliable: Ensures safe transactions with robust authentication methods.
• Available 24/7: IMPS works round the clock, unlike traditional banking methods.

FAQs

1. What is the maximum amount I can transfer using IMPS on Bank of Baroda Mobile Banking?
The daily IMPS transaction limit may vary depending on your account type. Check with Bank of Baroda for the latest limit.

2. Is there any fee for IMPS transactions?
Yes, IMPS transactions might incur a nominal fee. Refer to Bank of Baroda’s fee structure for details.

With this guide, you can easily perform IMPS transactions on the bob World mobile app.

Adding a beneficiary account in the Bank of Baroda mobile banking app (bob World) is essential to initiate money transfers securely and efficiently. Whether transferring funds to another Bank of Baroda account or an account in a different bank, registering the beneficiary ensures a smooth and error-free process. This step is mandatory to prevent unauthorized transactions and to enable seamless transfers via IMPS, NEFT, or RTGS once the beneficiary is verified and activated.

How to Add a Beneficiary Account on Bank of Baroda Mobile Banking

Managing your finances with the Bank of Baroda (bob World) app is convenient and straightforward. One critical step to transferring funds is adding a beneficiary account. This guide walks you through the process step by step.

Steps to Add a Beneficiary in Bank of Baroda Mobile Banking

Step 1: Login and Navigate to Transfers

1. Open the Bank of Baroda Mobile Banking (bob World) app.
2. Enter your login credentials and tap on the Transfer option.
   

Step 2: Access Beneficiary Addition

• If no beneficiaries are added yet, you’ll see an Add Now option. Tap on it.
• If beneficiaries already exist, tap View All and select Add a New Beneficiary.
  

Step 3: Add a Beneficiary (Within Bank of Baroda)

1. If the beneficiary has a Bank of Baroda account, choose the Within Bank option.
2. Enter the beneficiary’s account number and name, then submit. You don’t need to enter the IFSC code for Bank of Baroda accounts.
   

Step 4: Add a Beneficiary (Other Banks)

1. If the beneficiary has an account in another bank, select the Other Bank option.
2. Enter the following details:
   • Account number
   • Name
   • IFSC code
   • Nickname (optional)
3. Select Authenticate Beneficiary and tap Verify Beneficiary.
   

Step 5: Verify the Beneficiary

1. After verifying the beneficiary details, tap the Next button.
   

Step 6: Confirm Beneficiary Details

1. Review the beneficiary’s account details one last time and tap Submit.
   

Step 7: Enter OTP

1. An OTP will be sent to your registered mobile number. Enter the OTP to proceed.
   

Step 8: Enter Transaction PIN

1. Provide your transaction PIN and tap Submit.
   

Step 9: Beneficiary Successfully Added

• The beneficiary account is now added successfully. The beneficiary will be activated after 4 hours.
  

Transfer Limits After Adding a Beneficiary

1. After 4 hours, you can transfer up to:
   • ₹50,000 via IMPS
   • ₹50,000 via NEFT
2. After 24 hours, transfer limits increase to:
   • ₹5 lakh via IMPS
   • ₹20 lakh via NEFT

Adding a beneficiary is a one-time step to enjoy smooth, hassle-free fund transfers through the Bank of Baroda mobile banking app. Follow this guide to set up your beneficiary account today!