What is MMID in banking

What is MMID in banking

What is MMID in banking: MMID stands for Mobile Money Identifier. MMID is nothing but a 7 digit unique code in which first four digits are for banks identification and which is use for interbank transfer. Each and every person who has bank accounts will have this Mobile Money Identifier number that is MMID. With the help of this MMID it is easy to identify the bank and particular bank account. This MMID number or code is linked with your mobile number. So that your transaction can be done and it is necessary for all fund transfer. What is MMID in banking For successfully transaction or for successfully fund transfer it is essential to have MMID at both the sides that are at sender and at receiver side. The MMID system works through IMPS interface that is Immediate Payment System interface. Here we have provided some information from this you can get little idea about what is MMID in banking. As in today’s era most of the peoples prefer online banking so it is necessary that you must have knowledge about all the process that includes in online banking. What is MMID in banking in sbi We will also provide information about why to use MMID, how to create MMID and how to use MMID for fund transfer.

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Why to use MMID

MMID is one of the best way of banking. It is very easy and convenient for banking. We can easily do transaction with the help of MMID. It is very safe method for funds transfer. So this is all about why to use MMID. How to create MMID

Three ways for creating MMID

how to create mmid

1. Mobile Banking
2. Net Banking
3. Phone Banking

Mobile Banking

Steps for how to create MMID using mobile banking
Step 1 – Firstly open your bank’s mobile banking app.
Step 2 – Do login with user id and password.
Step 3 – Then open the Account option.
Step 4 – Then tap on Generate MMID tab.
These are the steps for how to create MMID using mobile banking.

Net Banking

Steps for how to create MMID using net banking
Step 1 – Open your bank’s net banking portal.
Step 2 – Do login with user id and password.
Step 3 – Then go to the home page and then select Generate MMID option.
Step 4 – Fill in the details and then tap on verify.
Step 5 – Your MMID will be generated for your particular bank account.
These are the steps for how to create MMID using net banking.

Phone Banking

Steps for how to create MMID using phone banking
Step 1 – Call on your bank’s banking number.
Step 2 – They will ask to choose the language
Step 3 – Then select the banking option.
Step 4 – Now talk to the customer care representative and then tell them to generate MMID.
Step 5 – Within 24 hours MMID will be sent to the account holder’s registered or linked number.
These are the steps for how to create MMID using phone banking.

Now always remember that when you are using mobile banking you need to do registration after downloading your bank’s mobile banking app. Here we are also providing the steps to do registration for mobile banking.

Steps to do registration for mobile banking

what is mmid

Step 1 – Install the mobile banking app from google play store or apple play store. Complete the registration process by filling the details that is been asked for.
Step 2 – Then go to ATM and then register for mobile banking.
Step 3 – Then call customer care and then activate mobile banking.
Step 4 – Then visit the bank and request them for activation of mobile banking services.
Follow the above mention steps properly to do registration for mobile banking.

How to use MMID for fund transfer

Here we will provide the steps for how to use MMID for fund transfer.
Steps for how to use MMID for fund transfer
Step 1 – Open your bank’s mobile banking app.
Step 2 – Do login with user id and password.
Step 3 – Select the Fund Transfer option.
Step 4 – Select the IMPS.
Steps 5 – Fill the details that are asked and then verify the same.

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Important note:

Always keep in mind that each and every account will have a different MMID. It is a unique number for every account.
So in this article, we have provided complete information regarding MMID. we know What is MMID in banking

Conclusion:

In this article, you get the information about
1. What is MMID in banking
2. Why to use MMID
3. How to create MMID
4. How to use MMID for fund transfer

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