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BW Businessworld

Transfer Funds Through E-Mail

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Transferring funds through email and without recipient’s bank details is easier now
The digital revolution is very much on and moving at top speed. Banking has always been ahead in the curve when it comes to meeting customer’s needs in the financial services space. IndusInd Bank has recently launched QuickPay, wherein the bank’s customers can send money instantly through SMS, E-mail and social media platforms. What’s interesting is that you do not need the beneficiary Bank Account details. All that is required is just an E-mail ID or Mobile Number.
Here are the steps:
1. Sender visits bank website 
2. Sender fill the E-mail Id or Mobile Number of the receiver. 
3. A link is sent to the receiver.
Recipient enters Account Number, Bank Name, IFSC code and receive funds. Only the banks which are supported for IMPS transactions can be used to transfer funds.
4. Instacode is a One Time Password generated by the system and sent to the remitter via SMS. Instacode has to be shared with the recipient for them to receive funds into their account.  
And all of this is instant transfer of funds!
 At the launch, Mr. Ritesh Raj Saxena, Head – Savings, Digital & Payments Business, IndusInd Bank  said “IndusInd Bank’s QuickPay service is aimed at delighting the customers in the digital age. Today’s young & digitally savvy customers expect payments to happen instantly & seamlessly. This service empowers IndusInd Bank consumers to send money to anybody, anywhere on a real time basis via social platforms. Bank will also soon launch its Wallet based payment App.”

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funds transfer emails