There was a time when we had to visit our home branch to transfer money from our bank account. But the time has changed now and so the banking sector of India has. These days we can use internet banking or mobile banking to do the transfer. In this guide, I will tell you how you can add new beneficiary in IDBI Bank.
In most banks in India, we also get the option of quick transfer. We can use that to transfer money without adding the beneficiary. But the problem is the maximum amount that can be transferred will be limited in such a case. So to avoid such limits you will have to add the account as a beneficiary.
There are mainly two types of beneficiary accounts. The first one is the interbank in which the account of the receiver will be with other banks. And the second one is intrabank in which the account of the receiver will be with the IDBI Bank itself.
If you are want to add an interbank beneficiary account. Then you will need the IFSC code along with the name and account number. But in the case of the intrabank, you need not enter the IFSC code. You just have to enter the correct name and the account number.
The Process of Adding New Beneficiary in IDBI Bank for Money Transfer
Follow the instructions given below.
- Visit the official website of IDBI Bank.
- Login to your account by entering your account details.
- Click on “Transfers” in the internet banking dashboard.
- If you want to add an account within IDBI Bank then click on “Third Pary Transfer”.
- If you want to add another bank account then click on “National Electronic Funds Transfer”.
- Click on “Add Beneficiary”.
- Enter the account holder’s name and account number.
- Enter the IFSC code. (if another bank account)
- Now enter your Customer ID, Transaction password, and click on the “Add” button.
Conclusion
The bank will not charge you to add a beneficiary account. Also keep in mind that you should never share your username, password, and OTP, etc. with anyone. For more information call the customer care of IDBI Bank on 1800 209 4324. (toll-free)