HDFC: How to transfer money from HDFC to Other bank – Using Mobile Banking [2023]

Mr.Varma recently took a Corporate HDFC Savings account as he recently joined as a fresher. His family is in need of money and he wants to transfer it through HDFC mobile banking app to his father’s ICICI bank account.

In this article, we will discuss on how to easily transfer money from an HDFC Bank account to any other bank.

To transfer money from HDFC bank, you should have the following Pre-requirements

1. Android /IOS mobile
2. HDFC Mobile banking app
3. HDFC Login Credentials
4. Beneficiary Bank account details like Beneficiary name, Beneficiary account number, Beneficiary bank, and Beneficiary IFSC code.

Ensure all the above-mentioned details are readily available to you.

Let’s begin with Process..!!

Step 1:

Firstly, open the “HDFC Mobile banking app” on your Mobile.

Step 2:

Now, Login into the app using the User name, Password (or) using your Fingerprint (or) using HDFC PIN number.

Step 3:

After logging in, your HDFC Dashboard will look like this. Now, Tap on the “Menu” section which appears on the top left.

Step 4:

Now, to transfer money from one bank to another, Tap on the “Money Transfer” option.

Here, you can see your Savings Bank Account number and also the Available balance in your account. It is the account from which the amount will be transferred to the beneficiary.

Step 5:

Now, you need to select the beneficiary to whom you want to transfer money from your added list. If no beneficiary is added, you need to add your beneficiary by tapping on “Add / Manage Payee”

Tap on “Enter Payee Name” to Select the beneficiary to whom you want to transfer money. The transfer can be made from one HDFC bank to another HDFC account I.e Intra Bank or from One bank to another like HDFC to ICICI bank i.e. Inter – Bank transfers.

Step 6:

Now, in the “Amount” column enter the Amount of money you want to transfer.

Using National Electronic Fund Transfer (NEFT), you can transfer a maximum of Rs.2,00,000/- per transaction. Whereas, as per the customer’s TPT limit, the maximum amount of funds that can be transferred per day is a maximum of up to Rs.50,00,000/-

Using IMPS, you can transfer a maximum of Rs.5,00,000/- per transaction.

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Step 7:

Later on, you need to select the money “Transfer mode”. It may be either through NEFT or IMPS.

If you choose the NEFT option, it takes less than 1 hour to transfer money to the beneficiary account. Whereas, If you choose IMPS, then, the amount will be transferred immediately to the beneficiary account on an instant basis.

Step 8:

Now, select your Purpose of the transaction in the “Remarks” column like Shopping, Rent, etc.,

Later on, you can see “Notify (optional)”. Here, you can enter the Beneficiary’s Mobile number to get notified when the amount gets credited to his/her account.

Step 9:

Now tap on the “Continue” button.

Step 10:

Now check whether all the details entered are correct only. If all details are ok, then, tick on “I Accept the Terms and Conditions” and tap on the “Confirm” button.

Finally, you will get a confirmation message that “You have Successfully completed the Transfer” along with the Reference number.

I hope you understood the “How to transfer money from HDFC to Other bank” concept.
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Sravan

Author is a Qualified CMA with rich industry experience for more than 6 years. He is an All India Ranker (AIR-101) in CMA and also a Semi-Qualified Chartered Accountant having a quite good experience in teaching the subjects of Accounting and Costing to the commerce aspirants.