What is MMID?

In the digital age of banking, the ability to transfer funds swiftly and securely between accounts is important. Immediate Payment Service (IMPS) stands out as an important part of offering a platform for instant fund transfer across various banks in India.

There are various methods using which funds can be transferred like NEFT, IMPS, and RTGS. IMPS is the instance option available and among the various methods available within IMPS, one notable option is the Mobile Money Identifier (MMID).

In this article, we’ll discuss what is MMID, How to Generate MMID, How to Use MMID for Interbank Funds Transfer, How to Receive Funds Using MMID, and much more.

What is MMID

What is MMID?

MMID or Mobile Money Identifier, is a unique seven-digit code assigned to individuals by their respective banks.

It serves as a key identifier in the Immediate Payment Service (IMPS) platform for facilitating instant fund transfers between different bank accounts.

The MMID enables users to initiate IMPS transactions securely through mobile banking applications or other digital channels without the need for detailed bank account information.

Importance of MMID

The following are the importance of the MMID-

  • MMID simplifies the process of transferring funds between bank accounts, allowing users to initiate transactions swiftly using just a seven-digit code, without the need for providing other account details like Bank IFSC Code, account number, etc.
  • IMPS transactions are processed in real time, enabling the immediate transfer of funds even outside traditional banking hours. This speed and efficiency are enabled thanks to MMID
  • MMID facilitates seamless fund transfers across different banks and financial institutions
  • MMID transactions are highly secure, with robust encryption and authentication measures safeguarding sensitive financial information and preventing unauthorized access
  • MMID can be used for a variety of transactions, including person-to-person transfers, bill payments, online purchases, and more

How to Generate MMID?

The following are the steps that you’ll follow to generate the MMID-

Mobile Banking:

  • Log in to your mobile banking application using your login credentials
  • Now, navigate to the account summary section and you’ll find your MMID displayed on your screen

Net Banking:

  • Login to your net banking portal using your login credentials
  • After logging in, navigate to the account summary section and there you’ll find the MMID displayed there

How to Use MMID for Interbank Funds Transfer?

The following are the steps that you can follow to use the MMID for fund transfer-

  •  The fund transfers can only be done by adding the MMID into the beneficiary section. You’ll have to add the beneficiary using the MMID
  • Login to your account using your login credentials
  • After logging in, navigate to the fund transfer section followed by clicking on the Add Beneficiary
  • After clicking on the added beneficiary, you’ll have to provide MMID as an option for locating the account followed by providing name, phone number, etc.
  • Now, click on the Add Beneficiary button and it will take a few hours to one working day to get the beneficiary added
  • Now, navigate to the fund transfer section followed by selecting the fund transfer then select the beneficiary from the list
  • After that, you’ll have to enter the amount and click on the proceed button
  • Now, you are required to enter your M-PIN for authentication followed by authenticating the transaction using OTP (One-Time Password) sent to your registered mobile number

How to Receive Funds Using MMID?

You can follow these steps to receive funds using MMID-

  • To receive the fund, you’ll have to Provide your MMID to the sender and your mobile number linked to your bank account
  • The sender has to add your details to their beneficiary list followed by initiating the fund transfer

Cost For MMID-Enabled IMPS Transactions

The IMPS charges are as follows-

Transaction Amount (in Rs.)Charges
0 – 1000Rs. 3.50 + GST
1001 – 100000Rs. 5 + GST
10001 and moreRs. 15 + GST


What is MMID?

MMID stands for Mobile Money Identifier, a unique seven-digit code assigned to individuals by their banks to facilitate instant fund transfers through IMPS (Immediate Payment Service).

Is MMID required for all fund transfers?

No, MMID is a type of IMPS transaction option available for users enabling users to transfer funds instantly between different bank accounts.

Can I use someone else’s MMID to transfer funds?

No, MMID is linked to a specific individual’s bank account and should only be used for transactions related to that account.

Are there any transaction limits for MMID-based transfers?

Transaction limits for MMID-based transfers may vary depending on the bank to bank. It’s advisable to check with your bank for specific transaction limits applicable to your account.

Is MMID secure for fund transfers?

Yes, MMID-based fund transfers are secure, as they are processed through the IMPS platform, which employs robust encryption and authentication measures to ensure the security of transactions.

Can I use MMID for international fund transfers?

MMID is primarily designed for domestic fund transfers within India. For international fund transfers, other methods such as SWIFT (Society for Worldwide Interbank Financial Telecommunication) are typically used.