How to Add a New Beneficiary in Indian Bank Account?

If you hold an account with Indian Bank and want to transfer money from your account to another. Then you should add a new beneficiary account.

With the help of this guide, you can learn how you can add a new beneficiary account in Indian Bank using internet banking services.

If you are transferring a considerably big amount of money from your Indian Bank account to another account. Then it is recommended that you add the receiver’s account as a beneficiary.

This will help you to make sure that the money you transfer is reaching the right account. There is no need to visit the branch of the bank to add a beneficiary.

You just need to have access to your internet banking account and your registered mobile number. In case you have not yet registered for internet banking services.

Then you can register yourself on the official website of Indian Bank. But make sure you don’t share your account details with anyone.

And never ever enter your account details on any third-party websites unnecessarily. If you do it then you are putting your account in danger.

The Process to Add a New Beneficiary in Indian Bank Internet Banking

Add a New Beneficiary in Indian Bank

Follow the instructions given below.

Steps to Add a New Beneficairy in Indian Bank Online:
  1. Visit the official website of Indian Bank.
  2. Log in to your internet banking account.
  3. Click on the “Funds Transfer” option that you can find in the top menu.
  4. Click on “Manage Beneficiaries” → “Add Beneficiary” from the left side menu.
  5. Now select the type of account you wish to add as a beneficiary. (Indian Bank Account, Other Bank Account, Credit Card Account, MMID)
  6. Enter the beneficiary name, account number, IFSC Code (in the case of other banks), and beneficiary mobile number.
  7. Confirm the details you have entered.
  8. Indian Bank will send you an OTP on your registered mobile number.
  9. Enter the OTP correctly and click on the “Submit” button.

Conclusion

Once you have added the beneficiary account you can not straight away transfer funds from your account. Indian Bank will verify the details you have entered. And then it will activate the beneficiary account within 24 hours after which you can transfer the money. But it is completely your responsibility to enter the correct details of the beneficiary.