Corporation Bank is a public sector banking company headquartered in Mangalore, India. The bank was established on 12 March 1906. Its Headquarter is located in Mangalore, Karnataka, India.

IMPS

IMPS Funds Transfer offers an instant, 24X7, interbank/ intrabank electronic fund transfer service from one account to another account through mobile phones.

The key features of IMPS Funds Transfer are as follows:

Instant Funds Transfer
Simple & Easy to use
24*7*365 availability
Credit and debit confirmations to sender and receiver
Fast, inexpensive, safe & secure, accessible

Mobile Application Channel:

In the Corp Bank Application menu, a transaction type ‘IMPS funds transfer – to Mobile number’ will be available.

Following fields need to be entered:

a. Beneficiary mobile number
b. Beneficiary MMID Number
c. Amount
d. Remarks(optional).

Now IMPS can be classified as follows

1. IMPS funds transfer – Person to Person(P2P) Using Mobile Number and MMID
2. IMPS funds transfer – Person to Person(P2P) Using IFSC and Account Number.
3. IMPS Merchant payment– Person to Merchant(P2M).

Customer has to register his mobile number for SMS/Mobile Banking and he has to get the MMID (7 Digit Code issued by the Bank) and can initiate the transaction from his mobile by knowing the beneficiary mobile number, beneficiary MMID.

Customer can also make the transaction using beneficiary IFSC and Beneficiary Account Number.

Currently their Bank is supporting these channels for doing IMPS funds transfer i.e. SMS, Mobile Application, USSD, Internet Banking.