ONLINE FUNDS TRANSFER

Online Funds Transfer.

Online Funds Transfer.

Transfer funds online, anytime, anywhere!

Citibank allows you to electronically transfer funds online, at your convenience, to a person with an account with any bank in the country.

Online Funds Transfer

Top reasons to use Online Funds Transfer

  • It's free
  • It's quick and hassle-free
  • It can be done at the convenience of your home/workplace

Citibank Offers 3 Modes of Online Funds Transfer

NEFT RTGS IMPS

Recommended when fund transfer is scheduled and planned.

When you want your transaction to be processed before 5.30 pm on weekdays (and 11.30 am on weekends and NEFT/RTGS holidays).

When there is no minimum or maximum amount you want to transfer.

When you want to transfer funds with minimum delay.

When you want your transaction to be processed before 3.30 pm on weekdays (and 12.30 pm on weekends and NEFT/RTGS holidays).

When the minimum amount is Rs2,00,000.

When you want to transfer funds immediately from your mobile phone or online.

When you want to transfer funds outside bank working hours. IMPS is available 24x7.

When the maximum amount to be transferred is Rs50,000 or lesser.

Benefits & Features

NEFT:

National Electronic Funds Transfer (NEFT) is a payment utility that allows Citi customers to transfer funds from their Citibank accounts to their own or any other individual having an account with any other bank in the country which is a part of the NEFT network.

  • NEFT can be done online without visiting your bank branch.
  • It is a cost effective way of electronically transferring funds.
  • There is no minimum or maximum limit on the amount of funds that can be transferred.
  • It is not restricted to any particular geographical area within India, given that a bank branch should be NEFT enabled. (All Citibank branches are NEFT enabled).
  • Outward NEFT transfers initiated online before 5.30 pm on weekdays (and 11.30 am on weekends) will be processed by Citibank on the same day. Remaining transfers will be processed on the next NEFT working day.

RTGS:

Real Time Gross Settlement (RTGS) is a funds transfer utility that allows Citibank customers to transfer funds to their own or other bank accounts promptly. The minimum amount for an RTGS funds transfer in Rs2,00,000.

  • Funds transfer via RTGS happens in real time.1
  • RTGS is generally used for transfer of large amounts. The minimum amount to carry out RTGS transfer is Rs2,00,000.
  • Outward RTGS transfers initiated online before 3.30 pm on weekdays (and 12.30 am on weekends) will be processed by Citibank on the same day. Remaining transfers will be processed on the next RTGS working day.

IMPS:

Immediate Payment Service (IMPS) fund transfer service allows customers to instantly transfer money online or from mobile phones using their registered mobile number 24x7, including bank holidays.

  • IMPS can be used to receive or transfer funds using beneficiary registered mobile number and Money Mobile Identifier (MMID) or account number and branch IFSC code.
  • This service is available 24x7 with immediate confirmation of transaction.
  • MMID can be generated immediately through Citibank online banking platform.
  • The maximum limit for IMPS is Rs50,000 per day.
  • IMPS is available only for IMPS live member banks.

1Confirmation of account credit depends on processing time. Funds transfer happens only during RTGS working hours.

Getting Started

NEFT / RTGS

  • If you are making a fund transfer for the first time, you will be required to register the beneficiary / payee.
  • Login to Citibank Online.
  • Provide details of the destination account number, city and the amount to transfer. For NEFT / RTGS transfers provide details of the beneficiary bank, branch and location or alternatively provide the IFSC code, to identify the destination branch.
  • Citibank will send you a one-time use six digit OAC (Online Authorisation Code) to the mobile number as updated on your account with us.
  • Use this OAC to authorise your payee registration.

IMPS

If you are making an IMPS fund transfer for the first time, you will be required to register the beneficiary / payee.

Login to Citibank Online and provide the details of the beneficiary's account number and IFSC code. To transfer funds using the beneficiary's mobile number, provide the beneficiary's Mobile number and the seven-digit Mobile Money Identifier (MMID) number.

Citibank will send you a one-time use six digit OAC (Online Authorisation Code) to the mobile number as updated on your account with us.

Use this OAC to authorise your payee registration.

Using the Citi Mobile App, you can also do a one-time transfer* using IMPS to a payee not registered on Citibank online.

*You can transfer funds up to Rs.1,000 per day to a non-registered payee through IMPS.

How to Transfer

NEFT / RTGS

  • If you are making a fund transfer for the first time, you will be required to register the beneficiary/payee.
  • Login to Citibank Online
  • Provide details of the destination account number, city and the amount to transfer. For NEFT / RTGS transfers provide details of the beneficiary bank, branch and location or alternatively provide the IFSC code, to identify the destination branch
  • Citibank will send you a one-time use six digit OAC (Online Authorisation Code) to the mobile number as updated on your account with us
  • Use this OAC to authorise your payee registration and complete the transaction
  • For transfers within Citibank you can also register a Standing instruction for making the transfers at regular intervals automatically. Also set up a Standing instruction if you would want this payment to be executed automatically at regular intervals.

IMPS

Transfer Funds

Step 1

Add a Payee on Citibank Online

Login to Citibank Online and add a payee for IMPS Fund Transfers using your Account number and IFSC or beneficiary's Mobile number and MMID.

Please note that your existing Fund Transfer payees whose banks are participating in IMPS via Account number and IFSC code will automatically be eligible for IMPS transactions.

Step 2

Transfer Funds to the Payee

Using Citi Mobile - Select a payee => Choose either "IMPS via Account number and IFSC" or "IMPS via Mobile number and MMID".

Select a payee, enter an amount and confirm the transaction.

Using Citibank Online - Login to Citibank Online => Click on Make Fund Transfers => Click on Instant Fund Transfer (IMPS).

  1. Select a payee, enter an amount and confirm the transaction.
  2. Using SMS to 52484.*

IMPS via Mobile number and MMID.

IMPS <10-digit payee mobile number> <7-digit payee MMID> <amount> <XXXX>

IMPS via Account number and IFSC code.

IMPS <Payee Account number> <Payee IFSC code> <amount> <XXXX>

Note: XXXX denotes last 4-digit of your Debit Card number. The daily limit for IMPS transfers on SMS is Rs.1,000.

Remitters Before Proceeding to Transfer Funds via IMPS

  1. Beneficiary's Mobile number as registered with his bank.
  2. Beneficiary's Mobile Money Identifier (MMID).

Note: Please ask the beneficiaries to contact their respective banks to get their MMID.

Or

  1. Beneficiary's Account number.
  2. Beneficiary's Bank's IFSC code.

Receive Funds

Step 1

Generate MMID for your Account

Simply send an SMS: MMID XXXX to 52484 and generate your MMID.

XXXX denotes last 4-digit of your Debit Card number.

Or
Note your Account number and IFSC code of your bank to which you want the funds remitted.

Step 2

Share the MMID and your Registered Mobile Number or Account Number and IFSC Code with the Remitter

The remitter will use these details provided by you as beneficiary's details for IMPS and transfer funds to you.

What is MMID?

If you wish to send money using IMPS, you should have the Mobile number and MMID of the beneficiary's (person whom you wish to send money to).

If you wish to receive funds using IMPS, you should generate an MMID for your account and share this with the remitter (person whom you wish to receive money from).

You can generate one MMID per account.

Faqs

The RTGS system is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is Rs.2 Lakh. There is no upper ceiling for RTGS transactions.

Under normal circumstances the beneficiary branches are expected to receive the funds in real time as soon as funds are transferred by the remitting bank. The beneficiary bank has to credit the beneficiary's account within two hours of receiving the Funds Transfer message.

Immediate Payment Service (IMPS) is an instant, interbank (similar to NEFT) electronic fund transfer service that can be initiated only through mobile phones or Citibank online or SMS.

All Citibank domestic bank account holders who have registered mobile numbers can send and receive money using IMPS. Money can be sent via SMS channels or Citi Mobile or Citibank Online.

The beneficiary details required are:

  1. Beneficiary’s mobile number as registered with his/her bank
  2. Beneficiary’s Mobile Money Identifier (MMID).

or

  1. Beneficiary’s Account number
  2. Beneficiary’s IFSC code

Mobile Money Identifier (MMID) is a random seven digit number issued by banks to their customers. If you wish to send money using IMPS, you should have the mobile number and MMID of the beneficiary (person whom you wish to send money to). If you wish to receive funds using IMPS, you should generate an MMID for your account and share this with the remitter (person whom you wish to receive money from). You can generate only one MMID per account. This can be done on Citibank Online or Citi Mobile.

All IMPS transactions executed through Citi Mobile or Citibank Online or SMS using Mobile number and MMID or Account number and IFSC code have a combined daily limit of Rs.50,000/-. One-time fund transfers through IMPS via SMS or Citi Mobile have a daily limit of Rs.1000/- and there is no limit in the number of transactions that can be done using the “One-time Fund Transfer”.

You will get a confirmation SMS on your registered mobile number which informs you of the debit in your account.

You will get a confirmation SMS on your registered mobile number which informs you of the credit in your account.

Immediate Payment Service (IMPS) is an instant, interbank (similar to NEFT) electronic Fund transfer service that can be initiated through mobile phones or online or SMS. The beneficiary details required for sending money are mobile number and MMID or Account number and IFSC code. The transaction will get declined in case any one of these two numbers is erroneous and the transaction will get reversed instantly. If funds are credited to Incorrect/unintended beneficiary, then the customer is requested to coordinate with the beneficiary bank for refund.

IMPS is a 24x7 service. IMPS transactions can be sent and received at any time and any day. There are no timing or holiday restrictions on IMPS remittances.

The funds will be returned immediately for unsuccessful transactions. There might be cases where status of the transaction cannot be determined immediately. In case of timeout transaction the beneficiary’s bank will give the credit to beneficiary on T+1 working day.

In cases where the beneficiary bank is not able to credit the account, they would return the funds to the remitter bank for refund to the customer account which usually takes 5 working days. If you have not received the funds within 5 working days, please contact us to raise a complaint.

The funds received through IMPS can be used immediately upon credit.

Click here to access an updated list of all banks offering this facility using Mobile number and MMID / Account number and IFSC code.

No. Deposit and withdrawal of money cannot be done using IMPS.

There are no charges for sending or receiving funds using IMPS.

There are no subscription charges. IMPS can be availed free of charge. SMS and GPRS charges for using the service via the mobile phone apply.

Customers can do this in two ways:

SMS: Customers need to send MMID XXXX to 52484 to generate MMIDs for their accounts. XXXX denotes the last 4 digits of your Debit Card Number.

Please note:

  • For Aircel / Airtel / Vodafone / Idea customers SMS to short code service is available 52484.
  • Customers on the other service providers should try the long code +919880752484.

If MMID is already generated then this will retrieve the existing MMID.

Citibank Online: : Customers can login to Citibank Online -> Select “Transfer Funds” -> “IMPS Fund Transfer” and generate an MMID for their accounts.

If MMID is already generated customers will be able to view this MMID.

Citi Mobile: Customers can login to Citi Mobile -> Select “Make Requests” -> Select “Show MMID” and generate an MMID for their accounts.

If MMID is already generated, customers will be able to view the MMID.

Customer can do this in 2 ways:

SMS: Send MMIDCANCEL <7-digit MMID> to 52484 to delete the MMID

Citibank Online: Customers can login to Citibank Online -> Select “Transfer Funds” -> “IMPS Fund Transfer” and delete MMID for their accounts.

Customers need to share the new mobile number and the existing MMID with remitters in order to receive funds. Customers can also alternately use the account number and IFSC code combination of the beneficiary to transfer funds using IMPS.

IMPS being a real-time fund transfer mechanism, there are could be network issues sometimes. We would request you to try again.

This means that the IMPS transaction was successful. You can check with your beneficiary, if he or she has received the funds. If the beneficiary has not received the funds and if your account is debited, then please wait for 24 hours for the funds to be reversed. If the funds are not reversed within 24 hours then raise a complaint with the bank.

If there were multiple debits, then your telecom operator would have tried re-sending the SMS request multiple times to us and hence it got processed. You can check with your operator or ask your beneficiary to transfer funds back.

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Disclaimers

You can transfer funds up to Rs.50,000 per day across Citibank Online / Citi Mobile and SMS channels using IMPS.

*If you are NOT on Aircel / Airtel / Vodafone / Idea, send the SMS to +919880752484.

Click here to view Mobile Banking Terms and conditions.