Using Axis Bank Instant Money Transfer service you can send cash to your relatives or friends instantly, anywhere in India at a very low cost. The receiver need not be an account holder with any bank, but you need to have an account with Axis Bank to use this service. Receiver will be sent a SMS on his or her mobile number containing the detail of the Instant Money Transfer. Once receiver receives details of the transactions SMS he or she needs to go to the nearest Axis Bank ATM and withdraw the money (The service can be availed using mobile, netbanking and ATMs)

Features

You can use the service for any of these cases:-

The receiver prefers cash
The receiver needs money instantly / needs emergency cash
The receiver doesn’t have a bank account
When you don’t know the receiver’s bank account details
The receiver is not within easy distance (to deliver cash or send a cheque by hand)

How it works

1. Log into your account Axis Bank account ( mobile banking, net banking or an ATM) and initiate an IMT
2. Enter amount to be sent
3. Enter the receiver’s mobile number
4. Enter pre-decided personal identification number (PIN) that both you and your receiver know
5. Finish the transaction
6. Now, bank sends these 3 information (IMT, receiver’s cellphone number and the common PIN) to the receiver phone as SMS along with a new PIN
7. Once receiver receives these information as SMS he or she needs to go to the nearest Axis Bank ATM and withdraw the money (The service can be availed using mobile, netbanking and ATMs)

Information required to initiate Axis IMT

You need to provide the following details

• Mobile number of the Receiver
• The transaction amount
• While issuing the transaction, you set a Sender’s Code(common PIN)

Information required to receive Axis IMT

Receiver will get an SMS on his or her mobile number containing the detail of the IMT. The details present in the SMS are:

• The IMT amount
• SMS Code
• IMT ID (a unique code which can be used to refer to your IMT transaction)
• IMT Expiry date

The Receiver can withdraw the IMT using the above details at any Axis Bank ATMs. Receiver can also perform a card-less IMT withdrawal at any Axis Bank ATM

Fee

There is a flat fee of Rs.25 per transaction for the sender ( inclusive of taxes )

How much can I send using Axis Instant Money Transfer ?

The maximum the sender can transfer upto,

• Rs. 5,000 per transaction
• Rs. 25,000 per month

The maximum the receiver can receive (checked on the mobile number) upto,

• Rs. 5,000 per transaction
• Rs. 1,00,000 in a calendar year