IMPS introduction fund transfer daily limits and dispute

management

IMPS (IMMEDIATE PAYMENT SERVICE) IMPS has emerged as the most preferred option for interbank fund transfers. IMPS is available 24 x 7 (free of charge, at present).

After clicking on IMPS tab, following Services will be available: 1. Transfer to Account (Mobile to Account using IFSC and Account No) 2. Transfer to Mobile (Mobile to Mobile using mobile number and MMID (Mobile Money

Identifier) 3. Transfer to Aadhar (Mobile to Aadhaar using Aadhaar number) 4. View /Generate MMID

Two types of payment options are available under IMPS- a. ‘Quick Payment’ b. ‘Registered Beneficiary Payment’

Quick payment may be used for one time transfer, however for frequent fund transfers; it is advised that the beneficiary is registered.

Also, the limit of transfer is lower in case of quick transfer.

1. PERSON TO ACCOUNT (P2A) QUICK PAYMENT Simplest mode of IMPS for one-time payment. No need to register beneficiary. Customer needs to enter beneficiary account number and IFSC Code to initiate immediate fund

transfer. Funds will be transferred upon successful entry of Tpin on the next screen.

2. PERSON TO ACCOUNT (P2A) BENEFICIARY PAYMENT For periodic fund transfers, customer can add beneficiary for once and then initiate regular

fund transfer without entering account/IFSC details each time. For adding beneficiary, customer can go to settings and add the beneficiary by entering desired

details.

Customer has to activate the added beneficiary (after 4 hours) in order to be able to initiate IMPS fund transfer to the newly added beneficiary.

3. Similarly, customer can initiate Quick/Beneficiary IMPS Transfer using Beneficiary’s Mobile and Aadhaar Number.

FUND TRANSFER LIMITS

Type of Payments Application based/WAP based

Fund Transfer/Third Party Tranfer/NEFT/RTGS/IMPS/Bill Payment/Other services

Daily Limit (INR)

Quick Payment (without beneficiary registration)

50,000 *

Beneficiary Payment 2,00,000 *

Self-linked account of the customer

5,00,000 *

*For Application/WAP based channel , overall daily limit for third party transfer/NEFT/RTGS/IMPS/Bill Payment/Other Services will be Rs 2,00,000 /-.

IMPS DISPUTE MANAGEMENT Quick resolution of grievances is the key to a happy customer. Branches should make maximum use of DMS tool to ensure all disputes related to IMPS are

resolved in minimum possible time. Step 1. In order to resolve customer disputes/grievances regarding IMPS Fund Transfer transactions, branches should login to Dispute Management System available in IRPS. Step 2. In IRPS, click on Dispute Management System (DMS).

Step 3. After successful login in DMS, click on Quick Search.

Step 4. Inside Quick Search , a) if transaction is outward select Remitter IMPS Search b) If transaction is inward select Beneficiary IMPS Search

Step 5. Remitter IMPS , a) To search, the transaction account number and date is sufficient b) In Sequence Number CBS RRN / NPCI RRN number can be entered to get specific

transaction

Step 6. Transaction Details will be available

Step 7. To raise IMPS dispute case (Dispute can be lodged from T+1 and onwards), a. Select Dispute/Chargeback b. Chargeback Entry

This will raise the dispute to CBO, ATBD, Mumbai. Reversal to remitter’s account in case of failed transfer, if any, usually takes 2-5 working days. For any dispute related to IMPS transactions, Branches can contact CBO, ATBD, Mumbai(1735) at: 022-66547329/7326/7325/7322.

For detailed guidelines and information regarding UCO Mobile Banking, you may please refer to

Circular No. CHO/BPR&BTD/07/2015-16 dated 30/12/2015 available in UCO Online.

In case of any clarification, please write to us at:- uco.mbanking@ucobank.co.in uco.custcare@ucobank.co.in Toll Free no. 18002740123 033-44559059/9084/9459