Money Transfer Help Documentation Introduction Money transfer allows you to send money to any bank account in India. Three modes of transactions are available as below 1. IMPS 2. NEFT 3. Auto IMPS money transfer allows you to send money instantly 24 x 7 x 365 to any IMPS supported banks in India. Receiver will get the money credited into their account within 5 to 10 seconds. The limit of IMPS is Rs 5000/- per transaction and monthly limit is Rs 10000/- without KYC NEFT you can send money to any NEFT supported banks but you cannot send money instantly as it follows RBI schedules. So if a transaction is made it would take 2 to 24 hours for the money to be received at the receivers end. Also it takes into account bank holidays. AUTO system decides the mode to be transferred based on the limits. This can be either IMPS or NEFT. These are based on the customers eligibility limit etc.

If you are new to the "Money Transfer" platform we request you to please go through the below details carefully.

Transaction Limits As per the RBI rule transaction limit per mobile number/per sender per transaction is Rs 5,000 and per month limit is Rs 10,000 without KYC for IMPS. Even then you can transfer more than Rs 5,000 up to Rs 10,000 in a single process, the amount will be split up and two transactions will happen. This is known as bundled transactions. For NEFT the transaction limit per mobile number/per sender per transaction is Rs 25,000 and per month limit is Rs 50,000 without KYC

Limit Per Sender Per Transaction limit Per Month limit without KYC Per Month limit with KYC

IMPS

NEFT

Rs 5,000 Rs 10,000 Rs 25,000*

Rs 25,000 Rs 50,000 Rs 50,000

*If customer provides the KYC then monthly limit for IMPS can be enhanced to Rs 25,000. Currently we are not having KYC based transactions and the same will be integrated very soon.

Terminology Let's understand about different terms used in the Domestic Money Transfer Term Sender Receiver Maker Enabler Suppliers

Details The walk in person who wants to send money(Remitter) The person who receives money in their bank account (Beneficiary) The person who collects money from the Sender and facilitate the transaction(Generally Retailers) The company who owns the technology platform The company who provide the IMPS platform like ICICI,YES Bank etc

Wallet

Trading balance Maker(Retailer)keeps with Enabler(Company)

Modes

Type of payment transfer IMPS/ NEFT or Auto The Indian Financial System Code (IFSC Code) is an alphanumeric code that uniquely identifies a bank-branch of Receiver.

IFSC NEFT MMID

IMPS NPCI OTP

MPIN

National Electronic Fund Transfer under RBI which settles NEFT transactions in India Mobile Money Identification Number (MMID) is a seven digit number of which the first four digits are the unique identification number of the bank offering IMPS. MMID is used for sending money from Mobile to Mobile (P2P) Immediate Payment Service is an interbank electronic instant money transfer service which allows to send and receive money 24x7x 365. The platform is powered by NPCI National Payment Corporation of India who settles the IMPS transactions in India on real time basis 24x7x 365 One Time Password sends as SMS to verify the Sender & Transaction. Sender need to give the OTP to the Maker to complete the transaction MPIN is similar to a ATM PIN, its numeric and associated with the “Sender” mobile number, Sender can complete the transaction by sharing his MPIN with Enabler instead of OTP

NEFT Timings Day

NEFT Timings

Monday Tuesday Wednesday Thursday Friday Saturday (2nd and 4th Saturdays are Holiday) Sunday

8:00 8:00 8:00 8:00 8:00 8:00

AM AM AM AM AM AM

Holiday

to to to to to to

6:30 6:30 6:30 6:30 6:30 6:30

PM PM PM PM PM PM

NEFT Settlement Time Currently, NEFT operates in hourly batches - there are twelve settlements from 8:00 AM to 7:00 PM on week days except Second and Fourth Saturday. Any transaction initiated after a designated settlement time would have to wait till the next designated settlement time. All transactions initiated before 5 PM will be settled on same day. No transactions are settled on weekly holidays and public holidays. We close 30 minutes prior to the scheduled closing timings of NEFT in order to send the transaction in the last batch.

NEFT Holidays 2016 The declared holidays besides Sundays, 2nd and 4th Saturday of every month in the NEFT System for the calendar year 2016 are as under :

Sl 1 2 3 4 5 6

Date 26-01-2016 25-03-2016 01-04-2016 15-08-2016 11-10-2016 12-10-2016

Holiday Republic Day Good Friday Annual Closing of banks Independence Day Dussehra / Vijaya Dasami Moharram

For updated information please refer RBI website. (https://rbi.org.in/scripts/HolidayMatrixDisplay.aspx)

Money Transfer Process Flow Sending Money-(If Sender is New) Consider that the Sender is new Step 1: If the walk in customer is new then we have to enroll them in to our platform as a "Sender", after filling the required details Sender will get an OTP as SMS and the same should be given to "Maker" to complete the Sender Registration. Step 2: Now the “Maker” need to add “Receiver” by filling the required details which includes account number and IFSC code Step 3: Enter the amount to be transferred and an optional message if required. Step 4: Select the mode of payment. There are three modes of payment a. IMPS: If this option is selected then money transfer happens through IMPS service. b. NEFT: If this option is selected then money transfer happens through NEFT service. c.

Auto: If Auto is selected system decides the mode to be transferred based on the limits. This can be either IMPS or NEFT.

Step 5: Click “Make Payment” button. An OTP will be send to the sender's mobile number which should be given to “Maker”. Step 6: The “Maker” will enter the OTP at the corresponding field. Step 7: Click Confirm to complete the transaction

Sending Money-(If Sender exists) Consider that the Sender is already registered Step 1: Select the sender from the list. Step 2: Then select the receiver to whom money has to be transferred. If the receiver is new then add the receiver after filling the required details which includes account number and IFSC code and select the receiver, else select from the list of receivers available. Step 3: Enter the amount to be transferred and an optional message if required. Step 4: Select the mode of payment. There are three modes of payment a. IMPS: If this option is selected then money transfer happens through IMPS service. b. NEFT: If this option is selected then money transfer happens through NEFT service. c.

Auto: If Auto is selected system decides the mode to be transferred based on the limits. This can be either IMPS or NEFT.

Step 5: Click “Make Payment” button. An OTP will be send to the sender's mobile number which should be given to “Maker”. Step 6: The “Maker” will enter the OTP at the corresponding field. Step 7: Click Confirm to complete the transaction

Verify receiver In the course of processing NEFT and IMPS money transfer transactions, the money will be credited to the Receiver account solely based on IFSC code and Account number provided by Sender. “Verify Receiver” option can be used by Sender to avoid wrong credit. Step 1: Select the sender from the list. Step 2: Now the “Maker” need to add “Receiver” by filling the required details which includes Receiver Name, Mobile no:, IFSC code and Account number. Step 3: Select the “Verify Receiver” option. “Verify Receiver” option is currently disabled for few banks. Step 4: Click “Register” Step 5: Verification charges will be displayed as Rs 1 + money transfer service charge of ‘ Manager Sender

Adding Receiver Receiver can be added and mapped against each Sender in the platform from the "Manage Sender" menu, you can also edit or delete a "Receiver" from the platform. Money Transfer -> Manager Sender -> Manage (Button) -> Add Receiver (Tab)

Transaction History You can view the complete details of the transaction from the "Transaction History" Money Transfer -> Transaction History ●

Expired and Rejected Transactions will be reprocessed as a new transaction with new transaction id, and marked as ‘RP’.

●

The transaction ID of transactions for receiver verification will be shown in blue colour.

Generating Receipt For every successful transaction “Maker” could immediately download/email/SMS the transaction receipt to the "Sender", all receipts having the Bank reference number given by the NPCI/Bank. Money Transfer ->Transaction History ->Download Receipt (Button)

Dispute & Refund In case of receiving any dispute that is "Maker" wallet got debited and "Receiver" not gets the transferred money then "Maker" can raise a Dispute from his "Transaction History" we will review the same and provide the solutions within 24 working hours from the time of dispute raised. Disputes can be raised for 7 days from the date of transaction. If the transaction is later failed then the amount should be strictly refunded to the "Sender" along with the transaction charges collected by the "Maker" For IMPS based transactions disputes can be raised after 15 minutes and for NEFT based transactions disputes can be raised after 24 hours from the time of transaction. Money Transfer -> Transaction History ->Dispute (Button)

Charges Transactions charges depends on the slab and the same is mentioned in the "Charges" Money Transfer ->Charges

Credit Sheet You can see all the transactions that you have marked as Credit Money Transfer ->Credit Sheet

Document Created: 14 February 2015 Last Updated: 02 March 2016