What is Instant Money Transfer?

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Instant

Money

Transfer

• Instant Money Transfer or IMT is an innovative card-less cash withdrawal service.

• It is a domestic money remittance service that allows you to send money to

anybody with a mobile phone.

• The receiver can withdraw money from an Axis Bank/Bank of India ATM without

using a debit card.

• All the details required for withdrawal of the cash are received on the

beneficiary’s mobile phone.

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When

To Use

Instant Money

Transfer

Instant Money Transfer services are beneficial in the following cases:-

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The receiver needs instant money

The receiver needs the transfer to be made in

cash

In case the beneficiary does not have a bank

account

When you are not aware of the

beneficiary’s account number

The receiver is not in a vicinity where cash can

be delivered

How does Instant

Money

Transfer

Work

• Using the IMT service, instant cash can be transferred to any mobile number in

India by providing the beneficiary’s mobile number

• To initiate a funds transfer the remitter or the sender must login to his Internet

Banking and initiate IMT

• The beneficiary can be registered instantly as a one-time process by entering

his/her name, mobile number and the address details

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Initiating

Instant

Money

Transfer

• Once the receiver has been registered, IMT can be initiated using the receiver’s

mobile number, the IMT amount.

• As soon as the transfer is initiated the beneficiary will receive an SMS text on his

mobile phone with all the details regarding the transaction mentioned

• The details mentioned in the SMS are:-

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The IMT amount

SMS code (bank generated code

sent to the receiver to authorize withdrawal)

IMT ID (unique IMT code to refer to the transaction)

IMT expiry date

Withdrawal

via

Instant

Money

Transfer

• Once the amount has been transferred and the IMT details received by the

beneficiary, he/she can access any Axis Bank/Bank of India network ATM and choose

to Withdraw via IMT

• The ATM shall require certain details such as:-

• As the details mentioned are verified, the cash will be dispensed from the ATM

machine. The SMS code will automatically expire after its usage. (C) Axis Bank Ltd.

The mobile number on which the IMT

details were received

The sender’s code The SMS code The IMT amount

THANK YOU

Visit www.itsallaboutmoney.com to know more.

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