Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service that works with both internet banking and mobile banking.
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Currency: |
INR |
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Fees / Commission: |
No commission |
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Processing time: |
24 hours |
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Minimum amount per transaction: |
₹5,000 |
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Maximum amount per transaction: |
₹100,000 |
A flat $3 commission will be charged for any deposit or withdrawal below $30 or equivalent. However, deposits or withdrawals equal to or exceeding $30 will not be subject to this fee. More information here: Low transaction fee: 3$ commission on transactions below 30$
Steps to deposit with IMPS
- Log in to your MyFXTM dashboard and navigate to 'My Money' > 'Deposit Funds' > 'Netbanking IMPS India'.
- Select the trading account or wallet you wish to deposit funds into and enter the amount.
- Click 'Confirm', and you will be redirected to the payment provider's page.
- Make a transfer to the generated account details within 45 minutes.
- Transfer exactly the same amount you entered on your dashboard.
- Attach the payment confirmation screenshot.
Important:
- It's strictly forbidden to write in-app messages when sending money. Payment execution won't be guaranteed.
- The transfer amount should be exactly the same as on the application form (MyFXTM dashboard) with all decimal places. No crediting of underpaid or overpaid funds will be made.
- Funds are sent by intrabank transfer or according to the rules of the selected payment system. For bank transfers, the funds must be sent from the bank selected in the order.
- Never use previously generated account details again. Each transfer requires new account details.
- We don't accept payments from third parties. The bank account needs to be in your name.
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