Do you know what is the MMID Full Form? MMID, or Mobile Money Identifier, is a unique 7-digit number that is used in conjunction with a registered mobile number to facilitate funds transfer through the Immediate Payment Service (IMPS) offered by various banks in India. This service allows for instant funds transfer between two bank accounts, without the need for account numbers or IFSC codes.
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Introduction of MMID
MMID is a unique identification number that is linked to a registered mobile number and is used to make funds transfer through the Immediate Payment Service (IMPS) offered by various banks in India. It is a 7-digit number that acts as a virtual identification number for the mobile number, allowing for easy and secure funds transfer. The Immediate Payment Service (IMPS) is a real-time inter-bank electronic fund transfer service that enables customers to transfer money instantly between any two bank accounts in India. This service is available 24/7 and is particularly useful for urgent or emergency funds transfers.
Getting An MMID Number
Getting an MMID number is a simple process and can be done through various channels. The most common way to get an MMID is by visiting your bank’s website or mobile app and following the instructions for generating an MMID. You will need to provide your personal details and the registered mobile number that you want to link to your MMID. Once the MMID is generated, it will be sent to your registered mobile number via SMS. In addition to this, some banks also provide the option to generate an MMID through SMS or through their customer care service.
Is MMID Required
MMID is required for easy and secure funds transfer through the Immediate Payment Service (IMPS). It eliminates the need for account numbers and IFSC codes, making the process of transferring funds quick and simple. It can be used for transactions 24/7 and is particularly useful for urgent or emergency funds transfers. The MMID number is a unique identification number that is linked to the mobile number, making it more secure than traditional methods of funds transfer.
Generating An MMID
Generating an MMID is easy and can be done through the following steps-
1. MMID through Internet Banking- You can generate an MMID internet banking facility of the bank in which you hold an account. In order to generate an MMID, you need to log in to the internet banking portal and navigate to the ‘IMPS’ and select the option to generate MMID. Once you provide the required details, an MMID will be generated and sent to your registered mobile number via SMS.
2. MMID through Mobile Banking– You can also generate an MMID through the mobile banking app. In order to generate an MMID, you need to log in to the mobile banking app and navigate the MMID generate option and fill up your credentials in this section. Once you complete this procedure you will get an MMID number via SMS on your registered mobile number.
3. MMID through Phone Banking– You need to call your bank’s customer support team and ask him to generate your MMID number. They will give you some instructions to complete and generate your MMID number. And then your bank will send your MMID number to your registered mobile number in 24 hours.
Using MMID for Funds Transfer
Using an MMID for funds transfer is simple and can be done through the internet banking facility of the bank in which you hold an account or through the mobile banking app. In order to transfer funds using an MMID, you will need to have the recipient’s mobile number and their MMID. You can then log in to your internet banking portal or mobile banking app and navigate to the ‘IMPS’ or ‘Mobile banking’ section. Select the option to transfer funds using MMID, and enter the recipient’s mobile number, MMID, and the amount you wish to transfer. Confirm the details and the funds will be transferred instantly.
Other MMID Full Forms List
| Term | Full Form | Category |
| MMID | Mobile Money Identification Number | Banking |
| MMID | Market Maker Identification | Stock Exchange |
FAQs- What is the full form of MMID?
Q.1. What is the MMID Full Form?
Ans. The full form of MMID stands for Mobile Money Identifier.
Q.2. What is the MMID Full Form in Banking?
Ans. In the banking sector, MMID stands for Mobile Money Identification Number.
Q.3. How many digits are there in the MMID number?
Ans. The MMID number consists of 7 number unique digits.
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