About Mobile Money Identifier
Mobile Money Identifier or MMID is a unique 7- digit number consisting of bank account number and mobile number altogether. Using the MMID digit helps in interbank transfers during mobile banking. Every account holder has an MMID, which helps in the identification of a particular bank account.
Mobile number and code is to be linked together for successful banking transactions, mainly concerning funds transfer. For a successful fund transfer, the sender and the beneficiary should have a Mobile Money Identifier. The whole process works efficiently with the IMPS (Immediate Payment System) Interface. Through the MMID facility, money can be sent or received using a handset via SMS.
MMID is a suitable process of banking. Any account holder, who doesn’t have access to net banking, can use this platform to send and receive money quickly.
Generating the Mobile Money Identifier
In order to generate an MMID, one can opt from a variety of choices mentioned below:
- Call on the phone number of your bank.
- Select the language in which you want to continue.
- Select the ‘Banking’ option.
- A customer care executive will be provided to you for the further process.
- Ask the customer care executive for the service of generation of an MMID.
- After the successful conversion, an MMID will be sent to the account holder’s registered mobile within 24 hours.
- Log in to your’s bank mobile banking application.
- Visit the ‘Account’ option.
- Click on the ‘Generate MMID’ tab to proceed ahead.
- An MMID will be generated in few minutes.
- Visit the internet banking portal of your bank.
- Log in to your account by filling in your credentials.
- Visit the home page and proceed to click on ‘Generate MMID’.
- Fill in the required details and wait for the verification.
- After verification, MMID will be generated for your account.
Steps for Registration for Mobile Banking
- Download the mobile app and begin the registration process.
- Visit an ATM and register for mobile banking.
- Call the customer care executive and activate the mobile banking feature.
- Visit the bank and request for activation of mobile banking service.
Using MMID for Fund Transfer
- Log in to the mobile banking app.
- Select the ‘Funds Transfer’ option.
- Choose IMPS (Immediate Payment Service).
- Fill beneficiary/payee mobile number (MMID) and the amount that is to be transferred.
- Verify all the details that are filled in.
- Proceed to transfer fund.
Mobile Money Identifier – FAQs
✅ Does every bank account have the same MMID number?
No, Your accounts in the bank will have different MMID numbers. However, all the MMID numbers can be linked to one mobile phone number.
✅ What is the use of an MMID number?
MMID is a 7-digit unique number given by the banks to its customers who wish to use mobile banking. Any person having an account in the bank who doesn’t have access to net banking can use the MMID feature for funds transfer. Through the IMPS method of payment, a person can use this number (MMID) to send or receive funds.
✅ Where can you get an MMID number?
Mobile Money Identifier can be allotted from the bank where you hold an account under your name. It is the 7-digit number given to each account holder for receiving and sending funds through IMPS. An MMID is provided by the bank when you register your phone number and email ID to your savings account.
Table of Contents
- 1 About Mobile Money Identifier
- 2 Generating the Mobile Money Identifier
- 3 Steps for Registration for Mobile Banking
- 4 Using MMID for Fund Transfer
- 5 Mobile Money Identifier – FAQs