What is IMPS?
Immediate payment service (IMPS) which was founded in 2010 is managed by the NPCI (National Payments Corporation of India). It is a mobile payment solution linked with all major banks in India (hundreds of commercial banks).
You can make different types of payments with IMPS. This includes donations, over counter payments, utilities, and payments on sites. IMPS through a fast and secure process helps you to make payments directly from your bank account to online casinos.
However, it could be a hassle to make payments with IMPS on some online casinos. This is because both the sender and receiver need to have an Indian bank account. Hence, a better option for online casinos located outside India is UPI.
How to Deposit Money on Casinos with IMPS?
Making deposits with IMPS may be a little tricky, especially if it’s for the first time. However, it is just as easy as the other casino payment methods. Firstly, make sure you sign up on IMPS and you can take the following steps:
- Locate a casino that offers IMPS as a payment option and sign up there.
- Go to the cashier section of the casino and select the deposit option.
- Choose the IMPS option of the list of payment methods displayed.
- Link your IMPS account with your casino account. Instructions on how to do this will be given by your casino.
- Enter the amount you want to deposit.
- Type in the 7 digits MMID (mobile money identification) number to confirm the transaction.
How to Withdraw With IMPS
If your casino allows deposits through IMPS, it will most likely allow withdrawals too. You must have successfully connected your IMPs account to your casino account before you can do this. Once you have the minimum deposit required by the casino, take the following steps:
- Go to the cashier of your casino site and select the withdrawal option.
- Choose IMPS among the list of withdrawal methods.
- Enter the amount you want to withdraw.
Fees with IMPS
All transactions with IMPS usually attract extra charges. The amount varies depending on the bank you are transacting with. I have listed the fees for some of the popular Indian Banks below. Check your bank for specific information, especially if it isn’t listed here.
Axis Bank
- Up to Rs. 1,000 – Rs. 2.5 fee + GST (Good and Services Tax)
- Rs. 1,000 to Rs. 1,00,000 – Rs. 5 fee + GST
- Rs. 1,00,000 to Rs. 2,00,000 – Rs. 15 fee + GST
ICICI Bank
- Up to Rs. 1,00,000 – Rs. 5 fee + GST
- Rs. 1,00,000 to Rs. 2,00,000 – Rs. 15 + GST
SBI
- Transactions up to Rs. 1,000 – No charges
- Rs. 1,001 to Rs. 10,000 – Rs. 1 fee + GST
- Rs 10,001 to Rs. 1,00,000 – Rs. 2 + GST
HDFC
- Up to Rs. 1,00,000 – Rs. 5 fee + GST
- Rs. 1,00,000 to Rs. 2,00,000 – Rs. 15 + GST
You can visit your bank website for more details
How to Sign Up with IMPS
It is very easy to sign up for IMPS. All you need is a smartphone that supports mobile banking apps. Here are the steps to take:
- Sign up for mobile banking at your bank. You will have to register using your mobile number.
- Request for your MPIN and MMID number.
- You can either download your bank’s mobile app to your device or make use of the IMPS SMS service.
FAQ
Is it Safe to Use IMPS in casinos?
Yes, IMPS is a legal banking service and is managed by the NPCI.
How Long Does it Take to Withdraw Money from Casinos With IMPS?
Withdrawals can be up to 24 hours using IMPS.
How Long Does it Take to Deposit Money With IMPS?
Deposits using IMPS is usually instant.
Is it Legal to use IMPS for Online Casinos in India?
Yes, it is legal as IMPS works on only trustworthy and regulated casinos.