What is the IMPS Reference Number

Online payment methods such as Immediate Payment Service (IMPS), Real-Time Gross Settlement (RTGS), and National Electronic Funds Transfer (NEFT) have significantly enhanced India’s economy by enabling fast and secure transactions. These services facilitate quick fund transfers, with funds credited to beneficiary accounts within minutes or hours, and have helped reduce banking frauds while increasing transaction efficiency. Among these methods, IMPS is particularly suited for instant transactions, regardless of the amount. This article will explain what IMPS is and how to decode IMPS reference numbers.

Immediate Payment Service or IMPS is an electronic funds transfer service facilitated by the National Payments Corporation of India (NPCI). It is a real-time, instant payment service available 24*7 throughout the year, including holidays. IMPS enables users to conduct inter and intra-bank fund transfers. You may conduct these transfers via Internet, mobile, and phone (SMS) banking. You may also initiate an IMPS transaction via ATMs as well.

With IMPS, your beneficiaries can receive funds in their accounts within minutes. You only need to provide the beneficiary's bank details—such as their bank name, branch, account number, and IFSC code. After entering these details, you can initiate the transfer within 30 minutes. Once set up, you can send money to the same beneficiary instantly without re-entering their banking information. 

Each time you initiate an IMPS transaction, the sending bank creates an IMPS Reference number once the transaction is successfully processed. Now, let us talk about this unique IMPS reference number for tracking.

The IMPS reference number is a unique code assigned to each IMPS transaction, allowing banks to track and identify the transaction within the IMPS system. This number is generated when you initiate an IMPS transaction and helps monitor its status or resolve any related issues.

The initiating bank provides the reference number to you, confirming receipt of your transaction request and proceeding with the money transfer to the beneficiary’s account. Keeping this reference number safe is important, as you or the beneficiary may need it to track or resolve any transaction disputes.

To find the IMPS sender details, you can do the following things. 

Check Transaction History

If you have internet banking or mobile banking access, log in to your account and navigate to the transaction history section. Look for the specific IMPS transaction in question and locate the associated sender details. The transaction details will display the sender's name and/or account number.

Refer to Transaction Receipt or Acknowledgment

Suppose you received a physical or electronic receipt/acknowledgement (SMS or email alert) for the IMPS transaction. In that case, you can verify whether the sender's details are mentioned on it. The receipt contains the sender's name, account number or phone number. In case of a physical transaction at an ATM, you can get a receipt from the ATM, which will comprise the sender's details and the transaction number.

Contact Your Bank

If you cannot find the sender's details through any of the above methods, you can also contact your bank's customer support network or visit your branch and provide them with any available transaction or reference numbers to help them locate the sender's details in their records.

Whether you need to pay someone for money owed to them or transfer money as a gift, whether you need to pay your Credit Card or utility bills; you can manage all kinds of payments via HDFC Bank'sBank's PayZapp app. 

PayZapp operates similarly to IMPS by transferring funds to the beneficiary's account almost instantly. Unlike IMPS, PayZapp doesn't charge transfer fees or require the beneficiary's bank account details. You can pay as long as you have the recipient's mobile number linked to their account.

You simply need to download PayZapp on your smartphone, register on it with your HDFC Bank-linked Registered Mobile Number (RMN) and sign in on the app. Once you sign in, you can link your HDFC Bank Account and linked-Debit Card, your HDFC Bank Credit Card (for non-account holders) or the in-built PayZapp cash wallet within the app to conduct transactions. Know more about PayZapp.

Click here for UPI payment through PayZapp on your IOS phone. Click here for online UPI payment through PayZapp on your Android phone.

*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.