MMID Full Form | Full Form of MMID
MMID Full Form - Mobile Money Identifier
- MMID stands for Mobile Money Identifier.
- It's a seven-digit number provided by banks to their customers to enable them send money through Immediate Payment Service (IMPS).
- It allows real-time inter-bank electronic fund transfer using mobile phones.
Mobile Money Identifier
- MMID number is required when someone wants to send or receive money through IMPS.
- Each bank account has a unique MMID number, for ex , if you've two bank accounts in two different banks or an equivalent bank, you'll have two different MMID numbers. Furthermore, one mobile number are often linked to different MMIDs.
- MMID isn't provided when you open a bank account. You're required to use for the MMID number if you need it.
- Different banks have alternative ways to supply this number like some banks allow you to get this number by sending an SMS, some allow through net banking or mobile banking, and a few provide within the mobile banking kit.
- If you've got an MMID number and telephone number of a person you'll send money even if you do not have his account number and ifsc code.
How to transfer money using MMID ?
- Open the mobile banking app of your bank or log in to internet banking.
- Select the fund transfer section and click on on IMPS.
- Feed the MMID code and other details required for fund transfer.
- Verify the transaction by MPIN or OTP.
- The amount are going to be instantly transferred to the beneficiary's account.