Bank transfers India


#1

I am thinking of opening an indian bank account for bisq transfers. In general to do a bank transfer within india but to a different bank, do I have to register the payee in advance or can I send the money by entering a payee’s bank account details and send them the money in one action?


#2

I don’t know how the bank system works in India, but in general you don’t have to register the payee in advance.

(As for easy money transfer, I find that paypal is an interesting and easy solution.)


#3

Thankyou for your reply. As this is a specific question pertaining to India bank transfers only, perhaps someone from India who transfers money could kindly answer the above question.


#4

It seems that you have to register The payee first: https://www.icicibank.com/Personal-Banking/onlineservice/online-services/FundsTransfer/fund-transfer.page
But the process seems instant: https://www.icicibank.com/managed-assets/docs/online-demo/internet-banking/Add-payee-ICICI-Bank.pdf


#5

Payee need not be pre registered. You could use UPI via GooglePay/paytm/ other UPI providers for instant transfers with a ceiling of 100,000 INR per day.