Instant Money Transfer (IMT) is a domestic fund transfer service that allows you to instantly send money to anyone in India. You just need to share the bank account details and mobile number of the beneficiary to enable the fund transfer. With DBS Bank, you can initiate instant money transfers through methods such as IMPS, NEFT, and RTGS, available on the digibank app and internet banking portals. Your sums are credited into beneficiary accounts in 30 minutes or less and your beneficiary can withdraw the money received using a debit card from any ATM.
Your payment will be processed, and funds with be transferred into the beneficiary account within minutes.
Download DBS Bank app to initiate Instant Money Transfers in seconds.
Open Instant DBS Bank Savings Account in just a few minutes.
Yes, there is a basic service charge associated with Instant Money Transfer. The sender will be charged INR 25 on every money transfer they initiate.
Yes, the sender can send up to INR 10,000 per transaction, while the receiver can receive up to INR 25,000 per month.
Yes, there is a set expiry date for every instant money transfer. The receiver cannot withdraw money once the money transfer request expires. In such a case, the sender will have to initiate a fresh transfer.
You can opt for instant money transfer when you prefer cash payments over online payments or when you need cash urgently. You can also utilise this fast money transfer facility if you do not have the bank account details of the receiver.
Both you and your beneficiary will get an SMS notification stating the fund transfer is completed. Your bank also sends you a notification informing you of your account balance post the fund transfer.